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... Telefonica are NOT the only service provider of Telephone Lines, Internet Access or Mobile Phones?
Tumbit recommends Telitec Communications. Find out how Telitec Communications can help you here!
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- Daily brief -Wednesday 25 May 2016
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Repsol pulls out of Iran gas project
Spain's largest oil company Repsol has pulled out of a contract it won with Royal Dutch Shell to develop part of the South Pars gas field in Iran, a spokesman said on Monday.
A spokesman for Shell declined to confirm whether the company will remain to develop phases 13 and 14 of the South Pars project, but noted that Shell will comply with any international trade restrictions which are placed on Iran.
A growing number of oil companies, trading houses and other international companies have stopped doing business with Iran this year amid a U.S. drive to isolate Tehran and international efforts to impose tougher sanctions.
Repsol, which has large economic interests in the U.S gulf of Mexico, was given an ultimatum by Iran to finalise its initial decision in May or withdraw.
Latest News & Stories
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- 30 arrests in Spain for pay-TV piracy
- Spain's centre-right PP to strengthen position in election - poll
- Popular Party faces freeze on assets if it fails to pay €1.2m civil bond
- Spain trade deficit falls 10.6% in March y/y
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