Article by Javier Blas and Angelina Rascouet published 3 June 2015 by Bloomberg.com
European oil majors are for the first time openly declaring interest in Iran in anticipation of a possible end to sanctions against the country over its nuclear program.
Leaders of Royal Dutch Shell Plc, BP Plc and Total SA all said Wednesday they were ready to return to the nation with the world’s second-largest natural-gas reserves and fourth-biggest oil cache, after similar comments by Italy’s Eni SpA last month.
U.S. oil companies, constrained by the history of American sanctions against Iran dating from the 1979 Islamic revolution, are more cautious in their statements on a return. The current curbs have prevented investment in Iran for a decade.