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Shell and BP make new inroads in Iran

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Saeed Kamali Dehghan and Terry Macalister

Friday 2 October 2015 20.30 BST

The possibility of a major British oil company regaining access to one of the world’s great hydrocarbon markets rose on Friday with officials in Tehran saying Shell would be allowed to build 100 petrol stations in Iran.

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TEHRAN, Oct. 3 (MNA) – A number of senior executives of the Anglo-Dutch Shell Oil Company have travelled to Iran to meet and talk with the officials at the National Iranian Oil Company (NIOC).

Accordingly, the senior managers of Royal Dutch Shell Company, commonly known as Shell, are scheduled to stay in Tehran for four days to meet and talk with authorities of NIOC, Oil Ministry’s officials as well as some investors in the private sector.

Director General of the British-Iranian Chamber of Commerce Martin Johnson last week had reported on the upcoming trip of 15 large English companies’ representatives to Tehran stating that, “some managers of these companies will meet Iranian officials at different sectors including Chamber of Commerce, the stock market and banks, Ministry of Industry and Mines as well as the Ministry of Petroleum.”

Currently, four years after the Iran’s crude oil sales to Shell Oil Company has stopped, the company has not paid its 2.3-billion-dollar debt to Iran to remain atop the list of giant debtors to Iran.

In time with nuclear negotiations between Iran and the 5+1, a new round of talks began with Shell to collect the 2.3-billion-dollar debt while Oil Ministry officials have announced that Shell Company is ready to pay back the money but transfer was not possible due to banking sanctions.

Meanwhile, during a joint meeting with Iran’s Oil Minister, British Secretary of State for Foreign and Commonwealth Affairs Philip Hammond guaranteed the payment of the debt to Iran during the post-sanction era.

SOURCE

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