INTERVIEW-Shell eyes Iran, to pay debt when sanctions end
TEHRAN | BY GUY FAULCONBRIDGE: Mon Aug, 2015
Aug 24 Royal Dutch Shell will repay a $2 billion debt to the National Iranian Oil Company (NIOC) when sanctions on Iran are lifted and will consider investing in the country’s vast energy sector, Shell’s boss for new business said.
Much would depend on the terms offered by the Islamic Republic once sanctions were lifted, said Edward Daniels, Shell’s executive vice-president for commercial and new business development. He was speaking to Reuters while on a British government visit to reopen the country’s embassy in Tehran.
In the case of Royal Dutch Shell PLC’s agreement to buy BG Group PLC, the year’s largest announced deal, the spread widened to 13.7% Friday from 11.4% a week earlier. That is the widest since the deal was announced in April, as investors fret over the possibility that plummeting oil prices could cause Shell to walk away.
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