24th Aug 2015 12:00
LONDON (Alliance News) - An executive at oil major Royal Dutch Shell PLC has said the company will repay a USD2 billion debt to Iran's state oil company and will consider investing in the company once sanctions are lifted, Reuters reported.
Edward Daniels, executive vice-president for commercial and new business development at Shell, said much of its decision would depend on the terms offered by Iran once sanctions on the country are lifted.
"Clearly Iran remains under sanctions with time before sanctions will be unwound and clearly we will be absolutely adhering to all sanctions," said Daniels, speaking as part of a UK delegation to the country to open the UK's embassy in Tehran. "Having said that, when sanctions are removed we will look to examine possible options to work in Iran."
http://uk.reuters.com/article/2015/08/24/uk-iran-nuclear-britain-shell-idUKKCN0QT0O920150824
By Sam Unsted; [email protected]; @SamUAtAlliance
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