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Shell back in Iranian energy sector?

Published: June 7, 2010 at 11:11 AM

TEHRAN, June 7 (UPI) — Energy giant Royal Dutch Shell moved back into the Iranian energy sector as new sanctions develop against the resource-rich country, a report says.

The International Oil Daily reported that Shell sent three shipments containing around 30,000 tons of gasoline each to the Iranian port of Bandar Abbas in May.

Shell, Swiss oil trading giant Vitol, BP and Reliance of India announced in March that they would stop dealing with Iran, presumably from U.S. pressure over Iran’s controversial nuclear activity.

Shell had expressed interest in developing the giant South Pars gas field in the Persian Gulf.

Iran in May, however, replaced Shell and Spanish energy company Repsol with the Revolutionary Guard-owned Khatam al-Anbiya at two South Par development projects.

Shell last delivered gasoline to Iran in October.

U.S. lawmakers, meanwhile, are lingering over tighter sanctions against Iran as the White House pushes for new measures at the U.N. Security Council.

Companies doing more than $20 million worth of business in the Iranian energy sector are subject to a ban from U.S. federal contracts under the Iran Sanctions Act.

UPI SOURCE ARTICLE
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