Royal Dutch Shell -AND- Total (NYSE:RDS-A and TOT)
Posted on 03/01/2006 8:46:43 AM PST by Esther Ruth
IRAN AWARDS ENERGY BIDS TO WESTERN MAJORS
NICOSIA [MENL] -- Iran has decided to award energy development contracts to Western majors.
An Iranian state oil firm said the Oil Ministry would grant Total, Royal Dutch Shell and Repsol upstream development contracts in the South Pars gas field in the Gulf. The Pars Oil and Gas Co. said the three Western contractors would develop phases 11 and 13 of South Pars.
France's Total was expected to be awarded the contract to develop Phase 11 of South Pars, regarded as the largest reservoir of natural gas in the world. Iran wants Total and the other two companies to help produce and export liquefied natural gas in 2009.
Shell and Spain's Repsol were expected to receive contracts to develop Phase 13. Akbar Torkan, managing director of the Pars Oil and Gas, said the Phase 11 award was worth up to $1.4 billion and Phase 13, $1.5 billion. He said the company also issued a tender to develop phases 19-21 of South Pars.
NOTE: The above is not the full item.
(Excerpt) Read more at menewsline.com ...
Shell is Dutch isn't it? If yes, I guess the EU has been bought off by the Mullahs.
When all else fails bribe 'em.
Yep, the frogs and the Dutch.
And Spain.
And the quid pro quo will be for the Europeans to stall action against their nuclear program before it's too late, I assume.
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