BP, Shell, Total, Siemens awaiting Iran’s entire sanctions removal

BP, Shell, Total, Siemens awaiting Iran’s entire sanctions removal

Baku, Azerbaijan, July 27

By Dalga Khatinoglu - Trend:

British Petroleum and Royal Dutch Shell are waiting for removal of sanctions on Iran to estimate whether to become involved in the country's oil and gas projects.

"We are engaging with relevant governments to understand the immediate and long term impact of the latest agreement on the sanction regime regarding Iran, Nureddin Wefati, the head of Media Relations for Middle East & North Africa of Shell told Trend July 27.

"It's clear that further steps are needed before sanctions are lifted or suspended.

Shell continues to comply with all relevant international sanctions. At the same time within the boundaries of the law, we are interested in exploring the role Shell can play in developing Iran's energy potential," he added.

Robert Wine, a spokesman at BP also said, " We are watching the situation and in the meantime we continue to comply with sanctions. We will look at opportunities once able to do so."

Responding to Trend's questions, Quentin Vivant, the spokesman of TOTAL also, quoted CEO Patrick Pouyanne as saying, "we still need to review the details especially regarding sanctions removal. As we said before, Total has a long history in Iran and is willing to go back when the sanctions are lifted and if the conditions are interesting."

Yashar N. Azad a spokesman for Siemens also told Trend that "we welcome the agreement between the P5+1 group and Iran. The agreement needs to be ratified by all parties now. All parties have to fulfill their obligations. It's still too early to speak of any concrete plans. However, as long as the sanctions remain in place, we'll continue to maintain full compliance with the specific sanctions imposed by the countries in which we conduct business, particularly in the area of export controls".

Iran and P5+1 reached a comprehensive nuclear deal on July 14, which paves the way for lifting sanctions on Iran's energy sector. However, the implementation of sanctions removal depends on the International Atomic Energy Agency's confirmation of the country's commitment to answer the UN body's questions and cooperate with that.

Iranian government hopes the sanctions will be removed in November.

Responding to a question about whether Shell has discussed any upstream/downstream project in general with Iran or which sphere is more interesting, Wefati said that "currently, we are interested in exploring with the government of Iran what role Shell can play in developing its energy potential and also understand Iran's new fiscal terms".

Shell was one of Iran's crude oil clients that has $2.3 billion debts to Iran (based on what Iranian government has announced) remaining since the pre-sanctions era.

Wefati said, "Shell remains unable to settle the outstanding payment to the NIOC that emerged as a result of applicable sanctions. We are now closely following developments in light of the latest agreement, in particular to establish what impact, if any, it could have on our ability to settle our liability in a speedy and compliant manner."

Speaking of resuming crude oil purchase, he said, "Shell has a long history in Iran; we were lifting crude through NIOC pre-sanctions. If the proposed sanctions relief allows for a resumption of our lifting we would be engaging in discussions with relevant stakeholders in Iran on the matter."

Iran's Deputy Oil Minister Amir Hossein Zamaninia said during the Iran-EU conference held July 23 in Vienna that Iran has $185 billion worth of upstream oil and gas projects to be offered to foreign companies by 2020.

During this conference Mohammad Khazaei, Deputy Minister of Economy, said that Iran held negotiations with European companies and approved projects for more than $2 billion in the past couple of weeks. He didn't explain whether these projects are oil and gas-related or not.

Edited by CN

Weekly actual topics in Azerbaijan (April 16-20)
Weekly actual topics in Azerbaijan (April 16-20)
Weekly tenders in the region (April 16-20)
Weekly tenders in the region (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Loading Bars
Hamas launches 100 more missiles in direction of Ashkelon
More than 745,000 COVID-19 infections detected worldwide over past 24 hours - WHO
UN Security Council to hold open session on Israel and Gaza Strip on May 16
Oil prices drop as U.S. pipeline resumes operations
Latvia eases entry rules for vaccinated travelers
Three rockets launched toward Israel from Lebanon, no damage -Israeli military
Africa's COVID-19 cases surpass 4.66 mln
Over 500 residential buildings razed by Israeli airstrikes in Gaza Strip
Azerbaijani Foreign Ministry issues statement on tension on Armenian-Azerbaijani border
China's Qinghai donates anti-pandemic supplies to Kyrgyzstan
Azerbaijani FM talks tension on Azerbaijani-Armenian border with OSCE Chairman-in-Office
Georgian's commercial banks see increase in number of total loans
Azerbaijani, Russian FMs exchange views on tensions on Azerbaijani-Armenian border
Overseas election headquarters established at Iran’s foreign ministry
Sputnik V approved for use in Republic of Maldives
Azerbaijan shares data on number of vaccinated citizens for May 13
Azerbaijan confirms 509 more COVID-19 cases, 1,427 recoveries
COVID-19 cases decrease in 80 Turkish provinces in a week
Tajikistan delegation to visit Uzbekistan on May 14
Gaza death toll jumps to 84 as Israeli air raids intensify
Musk decries bitcoin's 'insane' energy use after Tesla payment U-turn
Azerbaijani president got touched by National leader Heydar Aliyev's words about Shusha (VIDEO)
Azerbaijani president once again says at Jidir Plain in Shusha - Karabakh is Azerbaijan! (VIDEO)
EU countries urged to halt non-essential travel from India
U.S. weekly jobless claims fall
Gaza flare-up further weakens shekel
Georgia increases aviation fuel imports
Iran ready to have closer ties with Saudi Arabia, FM says
Azerbaijan’s import of goods from Italy down
Iran talks insurance data in its mining sector
Turkish ministry discloses volume of cargo handled through Mersin port
Georgia adopts new rule on forest use
Kazakh Senate adopts document on economic relations with Kyrgyzstan, within EAEU
Volume of chemical products exported by Turkey to Azerbaijan disclosed
KazTransOil completes connecting newly constructed sections to Uzen-Atyrau-Samara pipeline
Trade ministry discloses volume of cereals imported by Kazakhstan from Turkey
Russian Bright Way Group to set up pharmaceutical plant in North Kazakhstan
Georgia sees decrease in amount of local small companies
Turkmenistan's Turkmennebit opens tender to purchase of chemical products
Kazakhstan's exports to Latvia decrease
Kazakhstan boosts agriculture goods output
A year ago, different music was played in Shusha, other actions were taking place here - President Aliyev
President Ilham Aliyev meets with journalists in Shusha
Georgia establishes its first avocado farm
Tender for park construction opens in Turkmenistan's Dashoguz region
Trade ministry discloses volume of cereals imported by Georgia from Turkey
Turkey’s export of steel to US soars
UNIDO talks current global projects in Kazakhstan
First VP Mehriban Aliyeva shares footage from gala concert of “Kharibulbul” music festival on her Instagram page (VIDEO)
Power transmission line of Turkmenistan's Mary State Power Plant ready for commissioning
Кazakh Electricity Grid Operating Company opens tender to buy construction materials
Turkmenistan intends to increase pace of oil production
SOCAR to operate exports of Rosneft’s oil products to Ukraine - sources
Trade ministry discloses volume of electrical goods exported by Turkey to Germany
Volume of electrical goods exported by Turkey to Russia disclosed
India Fastest In World To Administer 17 Crore Vaccine Doses In 114 Days: Centre
Azerbaijan’s import of goods from Germany down
Forex reserves surge by $32.29 bn in six months: RBI
How IAF, Navy have pressed transport planes, ships to bring Covid relief to India
India received $83 billion in remittances in 2020: World Bank report
American India Foundation raises $25 million for Covid-19 assistance to India
Vietnam Buddhist Sangha presents medical equipment to India
Lemonade tanks as Texas freeze hits Q1 results
Russia reports over 8,300 COVID-19 cases in the past day
Kazakh, Azerbaijani presidents hold phone talks
AZAL to Trial IATA Travel Pass in Azerbaijan
Azerbaijani president, first lady watch performance of Kharibulbul festival participants (PHOTO/VIDEO)
Georgia sees decrease in revenues from foreign tourism
Azerbaijani president visits Yukhari Govharagha mosque in Shusha (PHOTO)
External merchandise trade of Georgia up
UNIDO, Gov't of Uzbekistan consulting to explore potential project ideas
Italy fines Google $123 mln for abuse of dominant position
Georgia reports 776 new cases of coronavirus for May 13
Armenians destroyed many mosques during occupation of Azerbaijani lands
Turkey’s export of steel to Uzbekistan up
Georgia takes steps to increase availability of agricultural land for farmers
Turkey’s export of ready-made clothes to Iran up
Iran ready to return to its JCPOA obligations, MFA official hints
Azerbaijani ferry delivers modern equipment to Turkmenistan
Turkey’s export of cement to Kazakhstan up
Azerbaijan discloses composition of national gymnastics team for competitions in Bulgaria
Caucasian Muslims Office chairman talks about new mosque in Azerbaijan’s Shusha
Kazakhstan needs to ensure environmental sustainability of extractive industries - UNIDO
Rolls-Royce sticks to guidance for 2021
Kazakhstan unveils value of payments of compulsory vehicle insurance
Azerbaijani people won Second Karabakh War thanks to unity - Caucasian Muslims Office
Turkmenistan takes part in adoption of documents within "Central Asia-China" meeting
Very happy to participate in Khary Bulbul festival in Shusha – Azerbaijani people's artist
Azerbaijan’s import of pharmaceutical products increases
Kazakhstan, France agree on roadmap for economic co-op until 2030
Latest prices for Azerbaijani oil disclosed
RCEP An Unbalanced Trade Agreement: Piyush Goyal
Indian Union Cabinet approves MoU between ICAI, Qatar finance body to develop accounting and entrepreneurship
IEA expects Azerbaijan to raise oil output in Q2
India's Merchandise Exports Can Hit $400 This Year Says Piyush Goyal
Azerbaijan’s average compliance with OPEC+ deal up - IEA
Festive prayer performed at Teze Pir mosque in Azerbaijan’s Baku (PHOTO)
Kazakhstan’s freight transportation operator opens tender for equipment maintenance
Global biofuel production to recover to 2019 level in 2021
More than 4,000 Indians die of COVID-19 for second straight day
All news