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Sanctions buster Shell restarts selling gasoline to Iran

From the front page… Shell restarts selling gasoline to Iran: Monday 7 June 2010

TEHRAN – The British-Dutch owned oil company Royal Dutch Shell has ignored proponents of austere sanctions against Iran by resuming business with Tehran after a six-month interval.

Shell delivered 30,000 tons of gasoline to the Iranian port of Bandar Abbas last month, the International Oil Daily reported.

Shell was among the group of international oil companies, which stopped selling gasoline to Iran in March following the U.S.-led campaign to impose tougher sanction on Tehran.

The company’s last delivery to Iran was in October 2009.

The Iran Refined Petroleum Sanctions Act of 2009 is a bill in the United States Congress that would extend U.S. economic sanctions placed on Iran and punish companies and individuals who aid Iran’s petroleum sector.

Shell teamed up with Spain’s Repsol and signed a deal with the National Iranian Oil Company in January 2002 to invest in South Pars’ phase 13.

Ever since the deal was signed, Shell has been delaying decisions on multi-billion dollar investments in phase 13 plans, reportedly due to political pressure.

Iran set a deadline for Shell and Repsol in April 2009, giving them until the following month to clarify their involvement in the project.

After nine years of negotiations Iran’s oil minister eventually ordered related officials to stop talks with these firms and turn to Iranian contractor.

SOURCE ARTICLE

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