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How Shell could be hit by Iran deal pull-out

By John Donovan 

Trump’s withdrawal from the nuclear deal with Iran, which has pushed up the price of oil, thus benefiting Shell and other oil companies, threatens to put billions of dollars worth of trade in jeopardy.

Shell has a record of treacherous conduct involving the Iranian regime, including using subterfuge to disguise shipping movements.

How will Shell react this time in an even more complex situation?

Below are extracts from articles published in the last 24 hours.

Sky News: 

How about the oil and gas sector? Potentially the biggest two companies affected are Royal Dutch Shell and Total. Shell has been licensing its petrochemical technology to local Iranian partners and in December 2016 signed a provisional deal with the Iranian government to explore three gasfields in the country.

The Guardian: How Trump’s Iran deal exit could hit aviation, oil and car industries 

In December 2016, Royal Dutch Shell signed a provisional agreement to develop the Iranian oil and gas fields in South Azadegan, Yadavaran and Kish. While drilling is still a long way off, sanctions are likely to put any preparations already being made on ice. The French oil firm Total is in a similar boat, having agreed to help Iran develop the world’s largest gas field, South Pars. Shell and Total were issued licences to build petrol stations in Iran, too.

BBC News: Iran sanctions threaten North Sea deal

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