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Royal Dutch Shell News: Shell in Iran, and LNG Vessels

Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has recently made the news for a supposed connection with Iran. Although the nature and deepness of the relationship between the Iranian and the firm’s management has not been revealed, the program to be aired by Dutch TV station, Nederland 2, promises to be juicy. The Tegenlicht TV show (Backlight in English), is a series of television documentaries by the VPRO, aims to grasp the quintessence of prominent trends and developments in the practice of critical journalism, and tries to improve understanding of the intricate inner workings of our modern society.

Peter Voser holding pump

The show will focus on Royal Dutch Shell alone, but public statements made together with Total SA (ADR) (NYSE:TOT), have already pointed out the importance of extending activities to Iran. However important Iran reserves can be for the world oil market, there are several political and security issues that need to be resolved. Currently, economic sanctions imposed by the United Nations and its Security Council prohibit the development of economic relationships between western institutions and companies with Iran. Moreover, institutions and companies carrying out business with Iran, and operating in Europe and the US, are exposed to a wide gamut of financial sanctions.

On another note, Royal Dutch Shell has announced the beginning of the construction of floating liquid natural gas (LNG) vessels. The purpose of these ships is to facilitate the extraction of LNG from offshore platforms, promoting a more efficient use of found resources, and production of many untapped resources.

The first vessel of this kind is currently under construction at a South Korean shipyard, under the guide of Samsung Heavy Industries, and has been named Prelude. In line, Peter Voser, Chief Executive Officer for Royal Dutch Shell, aboard the unfinished ship expressed his wish for the technology to take off worldwide.

Disclosure: Jodor Jalit holds no position in any of the mentioned stocks.

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