Posted on 10/17/2005 2:15:17 PM PDT by F14 Pilot
Chairman of the Shell companies in Iran, Yves Merer, said here Sunday the Anglo-Dutch oil giant would make an investment worth billions of dollars in the Islamic Republic's industry.
Merer, who talked to Fars News Agency, added the demand for energy, including oil, would soar in the future but oil prices would keep fluctuating.
He reiterated, The Shell will inject billions of dollars into Iran's industry if the country pays more heed to investment.
The Shell Companies Group has allotted some 15 billion dollars for development of complicated oilfields across the world. The task is faced with two main problems demand for skilled workforce and experts and huge investment.
Big spending is now a serious problem facing oil giants and governments, which are to boost production or reactivate fields, he added.
Oil extraction is not an easy and low-cost process any longer. Huge money and advanced technology are now needed to bring oil from the deep to the surface,? he said in conclusion.
OMG, if Shell is going to invest millions on the Iraqi oil industry, then it might MAKE millions on the Iraqi oil industry. We can't allow THAT!!! The sky is falling!!!!
</demo-think>
Hopefully with more American influence in the region, Iran will have to split their reserves between Euros and the USD.
Why would they have to split their reserves? Oil companies are international, and will deal with whatever currency they need to. Don't put too much faith in companies, whose only interest is the bottom line, to be putting themselves out to be patriotic!
Article says IRAN, not Iraq.... I don't want to see any investment going into Iran so long as the Mad Mullahs remain in power, so maybe this is a bad thing..... but I wouldn't say the sky is falling.
IIRC, most of RDS's revenue stream is in Euros anyhow
another evidence that Europeans support despots and dictators!
lousy report. Well, it's Tehran Times so who knows what the real story is?
I hope you're right about that, otherwise I'm considering a boycott of Shell.
I already boycott Shell, especially my local one. It's run by some rude Pakis.
The one near me usually has higher prices than the competition anyway, so I'm not in there too often anyway. Some of those Paki's or Indians, I'm never sure which they are, can be tough merchants. I've also had the experience of finding one who was not so gracious. OTOH, my son's best friend is an east Indian, from a very nice family.
I dont like the way their gas smells...so your boycott is probably smart.
Seems like a suicidal move.
But heaven help them if they make an "obscene" profit -- according to the Liberals.
Don't tell socialist Bill O-Riley that he will just say they are gouging and recommend a cap on their profits. The guy is such an idiot at times.
I am no longer buying gasoline from Shell.
So, um, why was Comment #3 removed? Did Alan Greenspan complain or something? Can't have mention of the EEEEEEEEEEEEEEVIL euro on this forum, I guess...
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