Royal Dutch Shell Group .com Rotating Header Image Shell Plans on Track in Iran

LONDON (Reuters) – 02/02/2006
Oil giant Royal Dutch Shell Plc said on Thursday its investment plans in Iran remained on track despite an international standoff over the Islamic state's nuclear ambitions that could result in UN sanctions.
Exploration and Production boss Malcolm Brinded, seen as the firm's second-most senior executive, said discussions on a planned multi-billion dollar natural gas project continued as earlier envisaged.
“It stays on track and progress (continues) towards an FID (final investment decision) which will be next year,” he told a press conference and conference call.
Shell also has other operations in Iran, apart from the natural gas project.
The Anglo-Dutch firm's position contrasts with London-based rival BP Plc. which refuses to invest in Iran for fear of irritating the U.S. government, a staunch critic of Iran.

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