Tag Archives | Shell

Int’l Oil Firms pitch for Iran Projects

Iran has received the first wave of proposals by major international companies to develop oil and gas projects within the new format of oil contracts recently approved by the administration of President Hassan Rouhani. Ten companies including big European firms such as Total, Lukoil, Shell, Eni, OMV and Asian giants like CNPC, Sinopec and Pertamina […]

OMV Resumes Purchasing Iranian Crude

By John Lee. Austria’s OMV is reported to have received the first consignment of crude oil from Iran in several years after sanctions were imposed on the country. OMV received 1 million barrels of crude oil from Iran in a spot delivery at the Italian port of Trieste.  The cargo will be further send to […]

Why Iran shouldn’t get too Excited about Brexit

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Since Britain’s vote to exit the European Union (EU), Iranian media has barely been able to contain its excitement about this historic development. Indeed, many pundits believe the result of the June 23 referendum could […]

Shell Resumes Buying Iranian Crude

Royal Dutch Shell will import 130,000 tons Iranian crude oil in July, becoming the second major oil firm after Total to restart trade with Tehran after a lasting nuclear deal between Iran and world powers, a report said. According to shipping data, Shell fixed Suezmax tanker Delta Hellas to bring 130,000 tons of Iranian crude […]

Petropars, Shell Discuss Oil Investments

The Iranian energy company Petropars Ltd. is holding negotiations with oil and gas major Royal Dutch Shell on carrying out feasibility studies for investment in oil and gas projects, Petropars managing director Mohammad Javad Shams told Shana. Referring to negotiations between Iranian companies and their foreign partners based on new models of oil contracts, he […]

Iran Begins LNG Exports to Kenya, Tanzania, S Africa

Iran has started exports of liquefied natural gas (LNG) to Kenya, Tanzania and South Africa, an official announced. Esmaeel Hasham Firouz, the export-import director of the National Iranian Oil Products Distribution Company (NIOPDC), said the Islamic Republic has begun to ship excess natural gas supplies as LNG to the three African countries. He said the […]

Petroleum Minister Receives Dutch Ambassador

Iranian Minister of Petroleum Bijan Zangeneh hosted a meeting with the ambassador of Netherlands and representative of Shell in his Tehran. The meeting was aimed at exploring avenues for energy cooperation between the two countries and energy giant Shell. Earlier in December 2015, Zangeneh hosted a meeting with Dutch Economy Minister Hank Kamp in Tehran […]

Tehran, Shell Discuss Future Enrergy Ties

Iranian Minister of Petroluem Bijan Zangeneh hosted a meeting with representative of Shell in his office in Tehran. The two sides discussed future energy ties. The Dutch ambassador to Tehran was also present in the meeting and was involved in the talks. (Source: Shana)

UKEF Ready to Offer Insurance Coverage to Iran

UK’s trade envoy to Iran, Lord Lamont, has voiced the United Kingdom Export Finance (UKEF)‘s readiness to cooperate with Iran and offer insurance coverage to the OPEC member Asian country. Following a meeting with the British envoy in Tehran, Amir Hossein Zamaninia, deputy petroleum minister in international affairs and trading, said he discussed Iran’s future […]

Shell Pays Iran $2bn

By John Lee. Oil giant Shell has reportedly paid off its historical debts to the National Iranian Oil Company (NIOC). A Shell spokesman is quoted as saying: “Following the lifting of applicable EU and US sanctions, we can confirm that payment of the outstanding Shell debt to NIOC has now been made. “The firm paid […]

Iran Expects Oil Dues to be Settled Soon

By John Lee. An official from Iran’s Ministry of Petroleum has confirmed that international oil companies (IOCs) have started paying the amounts owed to Iran for pre-sanction oil purchases. Ali-Asqar Hendi added that the country expects to receive all the oil dues from foreign companies by April, with the exception for the amounts owed by […]

Iran Debtors Ready to Settle Oil Debts

Iran says foreign oil firms are ready to settle their debts to Iran, probably in euros. Iranian Minister of Petroleum Bijan Zangeneh told a press conference on Tuesday that Greece’s Hellenic Petroleum, Italy’s Saras and Royal Dutch Shell owe Iran about $4 billion, which will be paid back to Iran in euros. Shell has said […]

Oil Majors head to Tehran ahead of Sanctions Relief

By John Lee. Reuters reports that oil majors Total and Shell have sent executives to Tehran ahead of the expected the lifting of international sanctions on Saturday. According to Iran’s Mehr news agency, they will meet officials from the National Iranian Oil Company (NIOC) and National Iranian Tanker Company (NITC) on Sunday. (Source: Reuters)

IOEC, Int’l Firms in Negotiations

The Managing director of the Iranian Offshore Engineering and Construction Company (IOEC) hsa said the Iranian firm is in negotiations with foreign counterparts to launch offshore projects based on the newly introduced petroleum contract models (IPC). “IOEC will cooperate as partner or contractor with the international companies,” Gholamreza Manuochehri told Shana. “Some 30 offshore projects […]

New Iran Petroleum Contracts to Bring More Revenue

The Managing Director of the Iranian Offshore Oil Company (IOOC), Saeid Hafezi (pictured), said Iran’s new contract models for investment in development of oil and gas fields can generate higher revenues compared to buy-back contracts. “The Iran Petroleum Contract (IPC) Conference was successful in achieving the objectives of introduction of contracts, potentials, and investment opportunities […]

NPC, Mitsubishi Discuss Petchem Ventures

Iran’s Deputy Petroleum Minister for Petrochemical Industry Abbas Shari-Moqaddam [Abbas Shari Moghadam], and the Senior Executive Vice President of Mitsubishi Corporation’s Chemical Group, Takahisa Miyauchi, exchanged views on the possibility of the Japanese firm’s participation in Iran’s projects. The CEO of the National Petrochemical Company (NPC) welcomed Mitsubishi’s interest in presence in Iran and said […]

OMV Seeks Technical Cooperation in Iran

A senior official with Austrian oil giant OMV says his company is hunting out technical cooperation in Iran for developing the country’s oil and gas fields. “Stronger technical cooperation in potential field developments in Iran by using new or existing technology” are the company’s future agenda in cooperating with its Iranian counterparts, said Stephan Hannke, […]

Shell Delegation in Iran for Oil Talks

A delegation from global energy giant Royal Dutch Shell is visiting Iran for talks with the country’s oil officials. The delegation, which arrived in capital Tehran on Friday , 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 […]

Shell to Pay Iran Debt, Considers Investment

By John Lee. A top executive at Shell has said that the company is to repay a $2 billion (1.3 billion pounds) debt to the National Iranian Oil Company (NIOC) when sanctions on Iran are lifted, and will consider investing in the country’s vast energy sector. The debt is a result of Iranian oil deliveries […]