Shell Delegation in Iran for Oil Talks

Source: www.gulfoilandgas.com 10/4/2015, Location: Asia

A delegation from global energy giant Royal Dutch Shell is visiting Iran for talks with the country’s oil officials.

The delegation – that arrived in capital Tehran – will stay in Iran for four days, the local media reported.

They are also scheduled to have separate meetings with Iran’s key banks, the Iran-UK Chamber of Commerce, the Tehran Stock Market, the Ministry of Industries, Mines, and Trade.

Shell has not been involved in any major oil and gas project in Iran over the past decade – mostly as a result of the US-engineered sanctions that barred international corporations from the country’s energy projects.

Nevertheless, it was involved in the development of the Persian Gulf oil fields of Soroush and Norouz and was tipped to develop Persian LNG in South Pars – a project that was eventually scrapped mainly because of the sanctions.

The media had earlier reported that Shell – together with Total – have received the license to establish 100 gas stations each across Iran thus becoming the first foreign companies ever to win access to Iran’s retail energy market.

These follow a recent thaw in relations between Iran and Britain following the July nuclear breakthrough in Vienna between Iran and the P5+1. Relations between the two countries specifically surged after the re-opening of the British Embassy in Tehran in August during a rare visit by Foreign Secretary Phillip Hammond.


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