Shell buys more Iranian crude oil

The Anglo-Dutch oil company, Shell increased its purchase of oil from Iran this summer, British newspaper Guardian reported.

At a time when major buyers of Iranian oil such as BP and India’s Reliance stopped purchase of oil from Iran in support of international sanctions to reign in Iran's nuclear activities, Shell increased its orders of Iranian oil and also enjoyed increased discounts as demand for Iranian oil fell with companies worried about US retaliation on companies that dealt with Iran.

Shell refused to comment on its increased business with state-owned National Iranian Oil Company but stressed they “continue to comply with all legislation.“

The report adds that French and Italian oil companies, Total and API also bought more Iranian crude oil between May and August of the current year at greater discounts.