Iran ends talks with Shell, Repsol

Iran ended talks with Royal Dutch Shell 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.

Oil Minister Masoud Mir-Kazemi "has ordered an end to talks with Shell and Repsol over development of phases 13 and 14 of the South Pars gas field", Mehr reported. South Pars, which Iran shares with neighbouring Qatar, contains the world's largest gas deposit.