Royal Dutch Shell has said it has signed a preliminary memorandum of understanding with a Tehran oil company. The move ushers its return to the Islamic republic after it had to leave because of Western sanctions.
Energy giant Shell confirmed Monday it had signed an initial deal with Iran’s National Petrochemical Company (NPC), paving the way for the Anglo-Dutch group’s return to the oil-rich country.
“We can confirm that we have expressed our interest to further explore potential areas of cooperation with NPC,” Shell told the AFP news agency.
The company’s vice president, Hans Nijkamp, said during the signing ceremony that Shell was seeking “a long-term presence in Iran,” adding that the firm would first have to look at possible commercial structures to use and corresponding technical solutions to eventually arrive at “a sort of joint venture again.”
Source: http://www.dw.com/en/shell-to-return-to-iran/a-36009139
