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
    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.
    06/30/2014 - 6:21 pm | View Link
  • Exclusive: RBS halts India tanker payment due to Iran sanctions
    India's Great Eastern Shipping Co Ltd (GESC.NS) has not been able to pay Greek firm Eurotankers ... "Financial institutions are very careful about dealing with Iran related stuff," said Robin Mills of Dubai-based Manaar Energy Consulting.
    03/26/2012 - 12:33 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 ...
    03/25/2012 - 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:
  • 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
    08/1/2014 - 10:53 pm | View Website
  • Topic Galleries
    News, Photos and Information about chicagotribune.com ... Dan McNeil has been on the radio host sidelines since the end of June and might remain there for a long time.
    08/1/2014 - 8:37 pm | View Website
  • CNN Video
    Man meets hero nurse who saved his life. Man saves falling baby in dramatic catch. Man jumps on tracks as train approaches
    08/1/2014 - 3:08 pm | View Website
  • Variety
    Entertainment news, film reviews, awards, film festivals, box office, entertainment industry conferences
    08/1/2014 - 11:48 am | View Website
  • Politics and Elections News – Latest Breaking Political ...
    About Townhall.com. Townhall.com is the leading source for conservative news and political commentary and analysis. Townhall is packed with breaking news ...
    08/1/2014 - 8:34 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