Exclusive: Shell Scrambles To Pay Huge Bill For Iran Oil

Shell

LONDON (Reuters) - Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because European Union and U.S. financial sanctions now make it almost impossible to process payments, industry sources said.

Senh: Um. Isn't that good news for them? They don't pay Iran $1B! The headline should be "Iran Struggles to Get $1B Payment from Shell."

Sections:  news   world   business   
Topics:  crude oil   energy   eu   european union   iran sanctions   oil   shell   
RELATED ARTICLES
  • Keystone XL pipeline to be delayedKeystone XL pipeline to be delayed
    TransCanada Corp. says the long-delayed Keystone XL pipeline will be in service months later than expected and cost more than its current $5.3 billion price-tag as it continues to await U.S. government approval. TransCanada had been sticking to its late 2014 or early 2015 start-up target, but the regulatory process has dragged on. More
  • Drivers benefit as oil prices drop sharply
    A sharp decline in the price of oil this month is making gasoline cheaper at a time of year when it typically gets more expensive. It's a relief to motorists and business owners and a positive development for the economy. More
  • Iran moves to speed up nuclear program despite sanctions
    Iran is increasing the number of advanced uranium enrichment centrifuges installed at its Natanz underground plant, despite tightening international sanctions aimed at stopping Tehran's nuclear progress, diplomats said on Wednesday. More
  • Nigeria tycoon 'plans $8bn refinery'
    Africa's wealthiest man, Aliko Dangote, says he aims to invest up to $8bn in a major new oil refinery that would double Nigeria's current oil output. More
  • Exxon CEO's Compensation Rises to $40.2 Million
    Exxon Mobil said CEO Rex Tillerson's total compensation rose 15% last year to $40.2 million. More
BING NEWS:
  • Exclusive: Shell scrambles to pay huge bill for Iran oil
    Four sources said the oil major owes a large sum to the National Iranian Oil Co (NIOC) for deliveries of crude, with one putting the figure at close to $1 billion. A debt of that size would equate to roughly four large tanker loads of Iranian crude or ...
    03/25/2012 - 7:48 am | View Link
  • Exclusive: Shell scrambles to pay huge bill for Iran oil
    Four sources said the oil major owes a large sum to the National Iranian Oil Co (NIOC) for deliveries of crude, with one putting the figure at close to $1 billion. A debt of that size would equate to roughly four large tanker loads of Iranian crude or ...
    03/24/2012 - 11:18 pm | View Link
  • EXCLUSIVE-Shell scrambles to pay huge bill for Iran oil
    Four sources said the oil major owes a large sum to the National Iranian Oil Co (NIOC) for deliveries of crude, with one putting the figure at close to $1 billion. A debt of that size would equate to roughly four large tanker loads of Iranian crude or ...
    03/24/2012 - 11:07 pm | View Link
  • More
BING SEARCH:
  • Breitbart News: Big Peace
    5 Ways Hamas is Like ISIS On Wednesday, Israeli Prime Minister Benjamin Netanyahu compared ISIS (Islamic State) and Hamas, calling them "branches of the same tree."
    08/22/2014 - 6:04 pm | View Website
  • Politics News and U.S. Elections Coverage
    Get the latest breaking politics news and political coverage of U.S. elections. Get updates on President Obama's White House, Congress and more at ABC News.
    08/22/2014 - 5:28 pm | View Website
  • Login
    Login. Enter your details below to login. If you are an existing member of The Times and The Sunday Times enjoying the full benefits of thetimes.co.uk, then simply ...
    08/22/2014 - 4:09 pm | View Website
  • International News | World News
    Get the latest international news and events from Asia, Europe, the Middle East, and more. See world news photos and videos at ABCNews
    08/22/2014 - 2:00 pm | View Website
  • Military Daily News | Military.com
    Daily updates of everything that you need know about what is going on in the military community and abroad including military gear and equipment, breaking news ...
    08/22/2014 - 11:23 am | View Website
  • More

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More News