Financial Times reported today that Iran is struggling to find new buyers for its crude oil and has offered 500,000 barrels per day, or nearly 23 percent of what it exported last year, to the Chinese and Indian refiners for April delivery. If China and India do not accept the offers by mid-March, Iran would be forced to put unsold barrels into floating storage in tankers or reduce output [Financial Times, 20 February].
Iran halted its oil sales to Britain and France on Sunday, saying it would sell its oil to new customers.
"The National Iranian Oil Company (NIOC) has reached an agreement with the International United Petroleum and Chemical Corporation (UNIPEC) to increase oil exports to China to 500,000 barrels per day (bpd)."
"The agreement with UNIPEC, indicates that a decline in Iranian crude exports to China earlier this year was due to a commercial dispute rather than political reasons, Dow Jones Newswires reported"
This sheer nonsense. China and India have both increased their purchases. Even the Saudi petro-pimps are suffering technical issues and have reduced production by close to half a million barrels. The Saudis who have a very high birth rate of illiterate bedouins and have been able to keep their "Arab Spring" rioters off the streets by doling out $150,000 handouts and subsidies. There is also a "marriage gift" for upto 4 wives of $60,000 each. While they murder and torture their Eastern Province Shia and repress Bahraini cries for democracy.
This enlightened Saudi pimpdom is now the beacon of "freedom" and headquarters of US/Zionist approved Islam in the region.LOL.
Watch-out for Saudi Islamic approved $6 a gallon gas by summer and perhaps $20 if shooting war breaks out in the Persian Gulf. It is easier said than done to stop Iranian oil as the world is facing peak oil and Asia rising.
This is called forward escape strategy.Oil prices are going up and they claim Iran is struggling to find buyers??? Is that logic or stupid?
What the idiots leading the EU/US fail to realize is that, any increase in world oil prices benefits Iran and hurts them more.China and India WILL NOT commit economic suicide for Washington's hegemonic fantasies.
Let the West use Whiskey and wine to power their cars and industries.Sad I'm also going to suffer for the stupidity of my leaders here in Europe.All this just to satisfy the desires of an Apartheid regime in occupied Palestine.We're all f**cked!
This "group-think" style of leadership where EU leaders take their marching orders from Washington - who also take their marching orders from Tel Aviv will destroy many European states.
If oil supplies run out, may man have to fall back on the horse? I guess.
These are the facts as I know them: China imports crude from Iran through two companies: Unipec which purchases crude for China's giant Sinopec, and Xenrong. in 2011, Unipec bought average of 260,000 bpd, while Xenrong purchased 240,000 bpd. These for a total of 500,000 bpd.
In 2012, Xenrong would keep its imports at the same level, while Unipec is said to cut some of its imports. So Iran will be selling a bit less than 500,000 bpd to China.
Platts: Iranian Oil - Tanker insurance - P&I Club
Insurance fears see few tankers ready to haul Iran crudeMonday, 20 February 2012
Since the Islamic regime barters its oil to these countries they don't receive the true value of the market price.
If Iran buys wheat from Russia and barters oil for wheat,Russia resells the Iranian oil at its true and highly profitable price into the world market.
This same principle applies to China as regards Iran.Iran receives Chinese goods and China receives Iranian discounted oil so that China can resell oil at huge profit into global market.
So now you know why China and Russia are so keen on supporting the Islamic regime because it benefits them for Iran to remain under the yoke of the mullahs.
The Islamic regime is selling off Iran's resources at the lowest bidder to these countries so that it can continue to remain in power and also to secure their Veto in the UN against the West regarding their nuclear program.
The Islamic regime is doing what the Qajars used to do selling of bits of Iran's flesh so that they can continue to party.
'INDIA IMPORTING IRAN OIL, SLAP IN FACE FOR US: EX-US OFFICIAL
Mon Feb 20, 2012 2:47PM GMT
A former US official says India’s decision to continue importing Iranian crude despite the recent Western sanctions on the Islamic Republic is “a slap” in the face for the United States.
“The Indian government’s ill-advised statement last week that it will continue to purchase oil from Iran is a major setback for the US attempt to isolate the Iranian government over the nuclear issue,” Nicholas Burns, former US Undersecretary of State for Political Affairs, wrote in an op-ed in current-affairs magazine The Diplomat today.
"India's decision to walk out of step with the international community on Iran isn't just a slap in the face for the US - it raises questions about its ability to lead," Burns added.
"This is bitterly disappointing news for those of us who have championed a close relationship with India. And, it represents a real setback in the attempt by the last three American Presidents to establish a close and strategic partnership with successive Indian governments," Burns said.
mat read the above your previous comment and stop living in fantasy.
Iran's oil is bartered for goods at heavily discounted prices so that India could resell oil bartered from Iran cheaply at huge profits therefore benefiting only India in our misery.
You don't know nothing about politics
as regards Iran and should stop posting your constant misguided unbelievable automated dross on Uskowi.
iran next year budget is 20% less than this year budget that mean they prepeared themself for worsthest senario even for war as increased military budget as high as 127% they are not bluffing the west used the bluff which back fire them what is the next move of the west would be may try to stop japan and south koria to buy iran oil that make this market to face bankrupcy iran oil is the best high quality of crude in the world with much less soil in the crude saudy oil has much higher sand or soil in the crude that why is much cheaper than iran oil.
The Financial Times are looking at it in the short term. In the long run, Iran will have no trouble finding new buyers for its oil. Don't believe me? Just you wait.
This regime is not wanted by the Iranian people in the "long term."
'JAPANESE SHOWA SHELL TO BUY IRAN CRUDE DESPITE OIL BAN'
Mon Feb 20, 2012 4:4PM GMT
Japan's Showa Shell Sekiyu KK, which runs the fifth biggest refinery in the country, has announced that it will continue to import crude from Iran despite Western sanctions against the Iranian oil sector.
The company, which is a Royal-Dutch Shell affiliate, said on Monday that Iran's recent halt of oil sales to French and British companies, including the oil major Shell, will have no impact on its Iranian crude imports.
On February 19, Iranian Oil Ministry announced cutting oil exports to British and French firms in line with the decision to end crude exports to six European states including the Netherlands, Spain, Italy, France, Greece and Portugal.
Meanwhile, an unnamed official at Showa Shell told Reuters that the firm and Shell are separate companies and have signed different contracts with Iran for importing the country’s crude.
The company had already announced on February 14 that it would continue to import about 100,000 barrels per day of Iranian crude oil despite mounting pressure from the United States to cut Iran oil imports.
@February 20, 2012 11:10 PM
Yes your are right. And in china some guys stolen a bike.
Very good new, what?
'IEA: CHINA BUYS MORE OIL FROM IRAN
Tue Feb 21, 2012 4:5PM GMT
The International Energy Agency (IEA) says China has bought an additional 200,000 barrels per day of Iran’s oil in recent months.
Didier Houssin, IEA director of energy markets and security, said on Tuesday that Beijing is the world's second-biggest crude consumer and may continue to increase oil imports from Iran.
"China has been buying more crude and may continue to do so," he said at the International Petroleum Week conference.
Earlier this month, the IEA predicted that China’s purchases of Iranian crude would slow in the first three months of the year.
This comes while the IEA’s latest report predicts that China’s oil demand would rise by about 4 percent this year to 9.9 million barrels a day.
The increase in Beijing’s oil purchase from Tehran comes despite the recent Iran’s oil embargo imposed by the European Union.
mat if you're gonna quote PROPAGANDA-TV you're gonna be passing misinformation....
China HAD increased purchases from Iran but now the purchases are dropping off.......
and China will again increase purchases from Iran.......when Iran starts feeling the pressure and offering discounts on the price.....
Iran is still going to find buyers in asia, but the embargo is slowly going to strangle the Iranian economy.
'EUROPEANS ENTERED TALKS TO BUY IRANIAN OIL: NIOC
Wed Feb 22, 2012 3:34PM GMT
A top Iranian oil industry official has said some European states have started negotiations with Tehran in order to purchase Iran’s crude oil.
“Only European companies with a 2- to 5-year contract with Iran can purchase the country’s crude, otherwise [Tehran's] relations with those companies will be reconsidered,” managing director of the National Iranian Oil Company (NIOC), Ahmad Qalebani said Wednesday.
Qalebani emphasized that Iran would no longer sell oil to the UK and France and said, “We are waiting for other European countries to enter negotiations with us and sign long-term contracts. Otherwise, we will stop selling oil to them.”
“If companies outside France and the UK want to buy crude from Iran, they must sign a 2- to 5-year contract with us, guarantee they will not sell Iranian crude to these two countries, no conditions must be set in the contract and no reference must be made to European sanctions [imposed against Iran],” he said.
According to Qalebani, Iran is currently exporting 2.2 to 2.3 million barrels per day of crude oil.
'INDIA CHARTERS NEW TANKER TO SHIP MORE IRANIAN CRUDE'
Thu Feb 23, 2012 2:7PM GMT
India’s largest refiner has chartered a tanker to enable the South Asian country to import more crude oil from the Islamic Republic.
The Indian Oil Company has booked the Mykonos Warrior, currently sailing in the Indian Ocean, to ship more than 130,000 metric tons of Iranian crude to Mundra on India’s west coast in March, Bloomberg reported on Thursday.
The Liberia-flagged vessel is reportedly expected to arrive in Iran’s Kharg Island on March 9, 2012.
India purchases around USD 12 billion worth of Iranian crude every year, about 12 percent of its total consumption. In January, Iranian crude exports to India rose to 550,000 barrels a day, up 37.5 percent from December 2011.
New Delhi’s growing interest in expanding its trade ties with Tehran comes as the Western powers recently adopted fresh sanctions against Iran's oil and financial sectors, and have ever since sought to pressure other countries to follow suit.
'TAJIKISTAN READY TO BUY IRANIAN CRUDE OIL: TAJIK ENVOY
Thu Feb 23, 2012 4:14PM GMT
Tajikistan's Ambassador to Tehran Dolat Ali Hatamov has announced his country’s readiness to buy crude oil from the Islamic Republic of Iran.
Speaking at a press conference in the capital Tehran on Thursday, Hatamov said that even though most of Tajikistan's oil demand is met by crude from Russia, Dushanbe is ready to import crude oil from the Islamic Republic.
Referring to the 5-km Anzab tunnel project jointly underway by Iran and Tajikistan, Hatamov said that the Islamic Republic has achieved a 90 percent progress in constructing the tunnel that will, upon completion, connect Dushanbe to Khujand in northern Tajikistan.
The Tajik official also emphasized the necessity of building a pipeline between Iran and Tajikistan in order to transfer Iran’s oil to different parts of the Asian country.
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