In the future Iran will return to the global oil and gas market, but not in the near future, said Peter Wozer, head of Royal Dutch Shell concern.
In 2010 US and EU have introduced additional restrictive measures against Islamic Republic of Iran, which were applied particularly to the oil and gas industry. Several big companies, including Royal Dutch Shell, Dutch-Swiss traders Vitol Holding and Trafigura and Swiss trader Glencore have suspended petrol deliveries to this countries.
“We know about the situation concerning Iran, international sanctions were applied to this country and one should fine political solution to the problem. But I think in the future Iran will be able to come back and become a participant of the oil and gas market and find a political solution to the problem,” said head of the company at the Oil & Money conference in London.
Iran has been selling oil at its own exchange since 2008.—0—
Economics
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Azerbaijani President Ilham Aliyev signed a decree on Monday aimed at improving social welfare, increasing the country’s minimum monthly wage to 400 manats ($235) starting January 1, 2025.
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Turkish companies YDA and ASFAT plan to build a shipyard near Kazakhstan's port of Kuryk to address the country's domestic fleet shortage, Kazakhstan's Minister of Transport Marat Karabaev announced on Monday during a parliamentary session. The project underscores Kazakhstan's ambitions to strengthen its maritime capabilities and logistics infrastructure.
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Kazakhstan's Minister of Transport, Marat Karabayev, unveiled the country’s bold roadmap for transforming itself into a premier transport and logistics hub in Eurasia. Speaking in parliament on Monday, Karabayev detailed strategies to capture a share of the massive $1 trillion annual freight flows between the East-West and North-South corridors.
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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