Iran tells Shell and Repsol to hurry up
Source: Agencies |
May 11, 2010, Tuesday
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Print Edition
Print Edition
EUROPEAN oil giants Shell and Repsol have been given two weeks to decide on their investments in an Iranian gas project or be replaced by domestic companies, an Iranian oil official said yesterday.
"The oil ministry has already given Shell and Repsol a deadline," said Reza Kasaeizadeh, the head of the National Gas Exporting Company.
Kasaeizadeh said the Spanish and Anglo-Dutch companies have been in negotiations with Iran on their role in developing phases of the South Pars gas project for "a long time," but they "have not entered into the final decision-making phase."
Western oil companies have been wary of following through on energy projects in Iran, worried they could face punitive measures for dealing with a nation under sanction over its nuclear program.
"The oil ministry has already given Shell and Repsol a deadline," said Reza Kasaeizadeh, the head of the National Gas Exporting Company.
Kasaeizadeh said the Spanish and Anglo-Dutch companies have been in negotiations with Iran on their role in developing phases of the South Pars gas project for "a long time," but they "have not entered into the final decision-making phase."
Western oil companies have been wary of following through on energy projects in Iran, worried they could face punitive measures for dealing with a nation under sanction over its nuclear program.
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