Nicosia, April 11 - - In the face of interminable problems that have beset Iranian efforts to develop the South Pars gas field, the National Iranian Oil Company (NIOC) has warned Royal Dutch Shell and Spanish oil firm Repsol to submit their plans of action for the South Pars gas field and the Persian LNG projects within 45 days, otherwise they will be replaced by other qualified companies.
South Pars
Iranian Ultimatum to Shell and Repsol
Oil Majors Say U.S. Restrictions Delay Iran Projects
Despite an urgent need to replenish reserves, Anglo-Dutch oil giant Royal Dutch Shell PLC and Spanish-Argentine Repsol YPF said they wouldn't sign a $10 billion contract to enter South Pars, the Iranian side of a giant natural-gas field shared with Qatar. Instead, the two oil giants are considering entering later phases of the project.
Iran Pars gas likely for home use, not LNG – Shell
Gas to be produced from an Iranian field which Royal Dutch Shell Plc (RDSa.L: Quote,Profile, Research) planned to develop before pulling out under U.S. pressure will likely be retained for domestic use, the oil major said on Tuesday. "It makes gas available which probably Iran may use for domestic use," Chief Executive Jeroen van der Veer told the Shell annual general meeting on Tuesday.
Royal Dutch Shell pulled out of one of Iran’s biggest gas projects, dealing a blow to Tehran
Financial Times: The Week
By Stanley Pignal
Published: May 17 2008 03:00 | Last updated: May 17 2008 03:00 & Gas
Royal Dutch Shell pulled out of one of Iran’s biggest gas projects, dealing a blow to Tehran’s attempts to expand its energy exports in the face of US and international sanctions. The Anglo-Dutch group, which paired with Spain’s Repsol for the project, will withdraw from the $10bn-plus development of phase 13 of South Pars, the world’s largest gas field.
Copyright The Financial Times Limited 2008
Shell Exits Iran, For Now
The U.S. has passed legislation which makes it illegal for non-U.S. companies to invest more than $20 million a year in any projects in Iran. Any companies that break this rule face fines on their U.S. earnings.
Iran says South Pars phase to come on stream soon
Mohammad-Javad Shams, board member of the Pars Oil and Gas Company, was speaking a day after Royal Dutch Shell RDSa.l said it had pulled out of developing another phase of South Pars, after pressure not to participate from U.S. lawmakers.
Iran supply problems add to fears of oil hitting $200 a barrel
To maintain its present capacity of about four million barrels of crude oil per day representing about 5 per cent of daily global output Iran is pinning its hopes on the development of huge new fields and is in talks with big Western oil companies, including Shell and Total. However, those companies are under mounting political pressure from the United States to withdraw from those negotiations.