Royal Dutch Shell
"Royal Dutch Shell has bought only three cargoes of Iranian oil since sanctions were eased a year ago, a small fraction of what it used to buy and an indication of the legal difficulties and high prices that still hamper the trade. The Anglo-Dutch firm did not give a reason for the drop in purchases, which were disclosed in its annual report, and the company declined to comment further. But oil trading sources say Iranian oil is often too expensive and in any case remaining sanctions make dealing with the Islamic Republic a legal minefield. As an example of sanctions-related difficulties, Shell's filings showed it had to disclose payments of only a few hundred dollars when its employees bought tickets with Iranian airlines. After an accord was reached over Iran's nuclear program, the European Union eased sanctions on Iran in January 2016 and the United States lifted some restrictions on dollar trade, moves that have allowed Iran to raise its oil exports sharply." (Reuters, "Despite Sanctions Relief, Shell Still Cool On Iranian Oil Buys," 3/10/2017).
"The National Iranian Oil Company has signed new spot oil export contracts with BP and the Anglo-Dutch Royal Dutch Shell to provide them with oil and gas condensates, director for international affairs at NIOC said on Wednesday... A spot contract is a deal for buying or selling a commodity for settlement (payment and delivery) on the spot date, which is normally two business days after the trade date. A spot contract is in contrast with a forward contract where terms are agreed now but delivery and payment will occur at a future date." (Financial Tribune, "Iran Signs Spot Contracts with Shell, BP," 12/29/2016).
"Royal Dutch Shell PLC on Wednesday said it had signed an agreement with Iran’s state oil company to explore future projects, signaling that giant energy companies are unlikely to be deterred by President-elect Donald Trump’s pledge to undo the Iran nuclear deal. Shell is the largest company to wade back into Iran since the U.S. and other world powers lifted sanctions in January in exchange for Tehran putting strict limits on its nuclear program. The British-Dutch firm follows France’s Total SA, which last month signed a $4.8 billion deal to develop a large natural-gas field in Iran and now is negotiating an oil deal... The scope of Shell’s deal remains unclear. A Shell spokesman said the firm and the National Iranian Oil Co. signed a memorandum of understanding to “further explore areas of potential cooperation.” The agreement is nonbinding and doesn’t come with an investment commitment, unlike Total’s deal. Earlier on Wednesday, the Iranian oil ministry said it and Shell were examining agreements to develop two large oil fields that could give a big boost to the country’s output. Shell didn’t confirm those talks. Shell has said it would proceed with caution as it mulls re-entering Iran... Iran’s oil ministry said Shell was interested in developing the South Azadegan and Yadavaran oil fields and the Kish gas field." (The Wall Street Journal, "Shell Signs Preliminary Iran Oil Deal Despite Uncertainty Over Trump," 12/7/2016).
"Royal Dutch Shell confirmed Monday that it had signed an initial deal with Iran's National Petrochemical Company, paving the way for its return to the Islamic republic. "We can confirm that we have expressed our interest to further explore potential areas of cooperation with the National Petrochemical Company through a letter of intent," a spokesman for the Anglo-Dutch energy giant told AFP. Iran's Shana news agency, which is linked to its oil ministry, said the deal had been signed in Tehran on Sunday. Hans Nijkamp, Shell's vice president, attended the signing ceremony and told Shana that the company was seeking "a long-term presence in Iran". "We first need to see what are the areas where we think we can work together and then work out what commercial structures we use, what technical solutions, and ultimately you will indeed end up with a sort of a joint venture agreement," he said. "But it is too early today to put any timeline on that. We are very pleased that Iran is coming back to be a part of the global community. But it is still a fragile situation," he added, according to Shana." (AFP, "Royal Dutch Shell signs initial deal to return to Iran," 10/10/2016).
"Iran has sold its first cargoes of natural gas condensate and crude oil to British companies...So far NIOC has sold two cargos of crude oil and gas condensate to two British companies," Ghamsari said, without naming the second company... Ghamsari said negotiations are underway for NIOC to sign long-term contracts with BP and Royal Dutch Shell, Mehr reported." (Reuters, "Iran sells first cargoes of oil, condensate to British companies - Mehr news," 10/3/2016).