Repsol S.A.

In 2011 Repsol was removed from Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran after it was determined to have past involvement. -- (https://www.patreasury.gov/pdf/divestment/2011-Annual-Divestment-Report-print.pdf)

"William Burns, U.S. Under Secretary of State for political affairs, pointed out that several big energy companies, including Total, Shell, ENI and Repsol, have scaled back their business in Iran over the past few years." (Reuters, "US to review if Statoil violates Iran sanctions law," 7/9/08) (http://uk.reuters.com/article/idUKN0943444220080709)

"Western companies, once eager to get in on Iranian energy development, have pulled back sharply amid Tehran's recent standoff with the West over its nuclear program. Repsol YPF SA and Royal Dutch Shell PLC had been in talks to enter the Persian LNG project as foreign investors. In June, Repsol dropped out of the discussions. At the time, Iran said it had contracted the gas development work to domestic companies." (Wall Street Journal, "Iran Curbs LNG-Export Ambitions" 8/12/2010) (http://online.wsj.com/public/quotes/main.html?type=djn&symbol=REP) (http://online.wsj.com/public/quotes/main.html?type=djn&symbol=RDSB) (http://online.wsj.com/article/SB10001424052748704216804575423212231718960.html?KEYWORDS=iran)

"Iran continues its quest for new crude buyers, especially in Europe, but its loyal customer base will continue to hinge on countries like India and China, whose demand for Iranian crude has observed a steady rise this year. Iran has found interest for its crude in some unusual places in the past few months as it continues it diversify its list of buyers. Earlier this month it agreed to sell 1 million barrels of crude oil to Hungary via Croatia as it seeks to widen its post-sanctions customer base, which now includes cargoes sold to oil major BP, France's Total, Greece's Hellenic Petroleum, Spain's Repsol and Cepsa, Russia's Lukoil, Poland's Grupa Lotos, Portugal's Petrogal and Italy's Saras and Iplom. Iran said it has held talks with Bosnia and Herzegovina this week as it hopes to expand its list of crude oil export destinations. However, its shipments to Asia remain the pillar of its export market." (Platts, "Analysis: Iran eyes new crude oil buyers, Asia remains linchpin," 11/1/2016). (http://www.platts.com/latest-news/oil/london/analysis-iran-eyes-new-crude-oil-buyers-asia-26582551)

"A spokesman for Repsol, an oil giant based in Spain, said that the company has a joint liquefied natural gas project with Shell in Iran that is in the early planning stages. But, as Western pressure has mounted, the project has not moved forward. The spokesman did not comment on the State Department's investigation into Repsol's possible violations of the Iran Sanctions Act."  From 2000-2009, the company was the recipient of $375.4 million US federal funds.  Their investments in Iran are currently on hold.  They have been listed as a potential violator of the Iran Sanctions Act.  (The New York Times, "Profiting from Iran, and the US," 3/6/2010) (http://www.nytimes.com/interactive/2010/03/06/world/iran-sanctions.html)

"Repsol holds the mineral rights to two exploration blocks: Merh and Forooz....These blocks have a total combined area of 14,638 km2...In 2004, Repsol and Shell signed an agreement with the (state) National Iranian Oil Company (NIOC), in order to develop the integrated LNG project designated 'Persian LNG'." (Company website, 7/13/09) (http://www.repsol.com/es_en/)

Listed by U.S. Government as doing business in Iran. (U.S. Securities and Exchange Commission, List of Companies Doing Business With State Sponsors Of Terror, Removed from the internet in July of 2007)

In June 2010, Repsol pulled out of a joint deal with Shell to develop phases 13 and 14 of the South Pars gas field (WSJ). (http://online.wsj.com/article/BT-CO-20100626-700827.html)

"Refiners including France’s Total, Italy’s Eni and Saras, Spain’s Repsol and Cepsa as well as Greece’s Hellenic Petroleum are preparing to halt purchases of Iranian oil once sanctions bite, the sources said." (6/6/2018). (https://www.reuters.com/article/us-iran-oil-europe/european-refiners-winding-down-purchases-of-iranian-oil-idUSKCN1J21F0)

"In January [2007], Shell and Spains Repsol signed a preliminary deal with Teheran jointly to develop two phases of South Pars. At the time, Shell said it might be a year away from knowing whether to proceed, a timescale that Shell chief executive Jeroen van de Veer repeated six months later." (The Daily Telegraph, "Shell delays decision on Iran project again," 12/29/07) (http://www.telegraph.co.uk/finance/newsbysector/energy/2821765/Shell-delays-decision-on-Iran-project-again.html)

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"Total, Shell and Repsol of Spain are hanging back from signing contracts, which the Iranians are desperate for them to sign, said Simon Henderson, an oil expert at the Washington Institute for Near East Policy." (Associated Press, "Iran looks to tap key oil field with homegrown crews," 5/11/08) (http://www.encyclopedia.com/doc/1A1-D90JIFV80.html)

"New York State Comptroller Thomas P. DiNapoli also announced Tuesday the $110 billion fund would freeze an additional $300 million in seven other companies...The decision comes after two years of reviewing these companies, the potential risk of the investments and, in some cases, humanitarian efforts in these countries. 'We don't expect our investments to benefit regimes that support genocide and terrorism,' said DiNapoli...The fund also plans to monitor and prohibit further investment in ENI (E), Repsol YPF (REP), Royal Dutch Shell PLC (RDSA), Total SA (TOT), ABB Ltd. (ABB), Alstom (ALO.FR) and Snam Rete Gas (SNMRY). Additionally, it plans to focus on other industries including telecommunications. (Wall Street Journal, "NY Comptroller To Divest $86.2M In State Pension Fund Investments," 6/30/09 and The Office of New York State Comptroller Thomas P. DiNapoli) (http://www.dipity.com/timeline/Divestment)

"The drop has been caused by several European companies, including Royal Dutch Shell and Spain's Repsol deciding to halt imports from Iran even before the sanctions took effect." (Reuters, "Eni suspends Iran's debt payments in oil," 5/31/2012) (http://www.reuters.com/article/2012/05/31/oil-iran-eni-idUSL5E8GVGHF20120531)

-- "Iran ended talks with Royal Dutch Shell Plc and Repsol YPF SA about developing two phases of its South Pars natural-gas field and will award the rights instead to an Iranian group, the state-run Mehr news agency reported. European energy companies including Shell and Repsol have postponed gas accords in Iran amid U.S. pressure over its nuclear program." (Business Week, 6/6/2010) (http://www.businessweek.com/news/2010-06-06/iran-ends-talks-with-shell-repsol-on-south-pars-gas-project.html)