Monday, March 26, 2012

Shell Unable to Pay for Iranian Oil

Reuters reported today that Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because EU and US sanctions now make it impossible to process payments.

“Shell is working hard to figure out a way to pay NIOC (National Iranian Oil Company). It is very sensitive and very difficult. They want to stay in good terms with Iran while abiding sanctions,” said an informed source to Reuters.

With daily contract volumes of 100,000 barrels, Shell was Iran’s second biggest corporate client behind Turkey’s Tupras. The EU has given European companies like Shell until July 1 to wind down their existing businesses with Iran.

Source: Reuters, 26 March 2012


Anonymous said...

Long live Iran.Death to the Islamic republic.

Anonymous said...

Anon 9:53 PM

Long live Iran AND the Islamic republic. Death to the traitors (and you as well) who chant death to them.

Anonymous said...

Anon 8:22 PM
"and you as well"

The death of the Islamic republic is 100% certain,just as the death of all dictatorships is certain.
Fortunately the time of death of an individual is not up to a minion of the regime to decide,but the almighty.So I should take care in what you wish for.

Anonymous said...

@Anon 8:22 PM.....No my friend you cannot say long live the Islamic republic and expect Iran to live but the opposite of it should be the case.Islamic republic must die for Iran to live.
And another thing please don't curse people that disagree with your limited point of view regarding our country.It shows a lack of intelligence and a bad upbringing.