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Title: Iran to increase oil export to China to 500K bpd in 2012 [Print this page]

Author: sansukong    Time: 2012-2-18 08:43:51     Title: Iran to increase oil export to China to 500K bpd in 2012

Iran to increase oil export to China to 500K bpd in 2012
According to new agreement, Iran will increase oil exports to China to 500,000 barrels per day.

Fri Feb 17, 2012 4:29PM GMT

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

According to the report, the deal is another sign that China has no immediate plans to obey US sanctions, which were toughened late last year to increase pressure on Iran over its peaceful nuclear activities.

On the New Year’s Eve, the US President Barack Obama signed into law new sanctions which aim to penalize other countries for dealing with Iran's central bank and importing its crude oil. The European Union also banned Iran oil imports by its members on January 23.

Major Asian oil consumers, China, India, and South Korea, along with Iraq and Turkey have already asked for waivers on US oil sanctions against Iran.

Although the terms of the new contract between NIOC and UNIPEC have not been made public, last year's contract was for 220,000 bpd of crude and 60,000 bpd of condensate from Iran's South Pars gas field.

Iran's deputy oil minister headed a delegation to China this week to negotiate a new crude supply contract and other joint projects in oil, gas and petrochemicals with Beijing.

The new agreement comes following those negotiations and is expected to increase Iran's oil shipments to China to above 500,000 barrels a day in 2012.

During a briefing in Washington on February 14, China’s Deputy Foreign Minister Cui Tiankai dismissed US-led sanctions on Iran to force the Islamic Republic into freezing its peaceful nuclear program, stressing that Beijing intends to pursue its "legitimate economic interests" with Tehran.

The United States, Israel, and their allies accuse Tehran of pursuing military objectives in its nuclear program with Washington and Tel Aviv repeatedly threatening Tehran with the "option" of a military strike against its atomic facilities.

Iran argues that as a signatory to the Nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has every right to develop and acquire nuclear technology for peaceful purposes.

SS/HGH







Author: sansukong    Time: 2012-2-18 18:52:27     Title: RE: Iran to increase oil export to China to 500K bpd in 2012

Iran cutting oil export to six European states ‎

Wed Feb 15, 2012 11:56AM GMT




In response to the latest sanctions imposed by the EU against Iran's energy and banking sectors, the Islamic Republic says it is cutting oil exports to six European countries.


Iran on Wednesday said it's cutting oil exports to six European countries including Netherlands, Spain, Italy, France, Greece and Portugal.

Iran says it will only sell oil to those European companies that agree to strike long-term agreements and guarantee payment.

MYA/IS/HGH
Author: baofeng    Time: 2012-2-18 18:58:48

Good news。。。 who needs the EU?
Author: sansukong    Time: 2012-2-18 18:58:51     Title: RE: Iran to increase oil export to China to 500K bpd in 2012

Europe, desperately in need of Iran oil
File photo shows oil refinery of Swiss firm Petroplus in Petit-Couronne, near Rouen, northwestern France.

Tue Feb 14, 2012 6:58PM GMT




“A number of Eastern European countries’ envoys [to Tehran] in confidential messages have called on Iran’s Majlis not to pass the bill on stopping [Iranian] oil exports to Europe.”

Lawmaker Mohammad-Karim Abedi


A senior Iranian lawmaker says a number of Eastern European countries have called on the Islamic Republic not to approve a bill which will stop the country's oil exports to the European Union member states.


Member of Iran Majlis National Security and Foreign Policy Committee Mohammad-Karim Abedi said on Tuesday some of the European countries have asked for more time before imposing a ban on the country’s crude oil exports to Europe, adding that the ambassadors of some other European states, such as France, have attended Majlis to call for Tehran’s restraint against approving the bill.

“... a number of Eastern European countries’ envoys [to Tehran] in confidential messages have called on Iran’s Majlis not to pass the bill on stopping [Iranian] oil exports to Europe,” the lawmaker added.

On Saturday, January 28, Majlis Energy Committee said it has finalized a draft bill to put an end to the country's oil exports to the EU member states.

The committee added that based on the double-urgency bill, the Islamic Republic would halt all oil exports to the European countries as long as they continue to ban oil imports from Iran.

In their January 23 meeting in Brussels, EU foreign ministers imposed new sanctions on Iran which include a ban on purchasing oil from the country, a freeze on the assets of Iran's Central Bank within the EU, and a ban on the sale of diamonds, gold and other precious metals to Iran.

The sanctions will become fully effective as of July 1, 2012, to give EU member states enough time to adjust to new conditions and find alternative crude oil supplies.

The United States, Israel and some of their allies accuse Tehran of pursuing military objectives in its nuclear program and have used this pretext to impose four rounds of sanctions and a series of unilateral sanctions against the Islamic Republic.

Iran has refuted the allegations, arguing that as a signatory to the Nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, Tehran is entitled to use nuclear technology for peaceful use.

MR/PKH/IS



Author: baofeng    Time: 2012-2-18 19:02:29

Yes, Europe is desperately in need of oil, even more desperately in need of shaking off its shackles to the zio-lobby

Author: sansukong    Time: 2012-2-18 19:06:32     Title: RE: Iran to increase oil export to China to 500K bpd in 2012

This post was edited by sansukong at 2012-2-18 18:10

India’s oil imports from Iran irk US
India buys about 12 percent of its crude oil from Iran.

Sun Feb 12, 2012 5:58PM GMT

Washington must realize that we are in a neighborhood where Iran is a factor."
Lalit Mansingh, former Indian ambassador to the United States

Energy experts say India’s determination to continue importing oil from Iran despite Western sanctions on the country's oil sector has marred Washington’s ties with New Delhi and frustrated US officials.

According to The Economic Times, during his latest visit to the US, Indian Foreign Secretary Ranjan Mathai reiterated New Delhi’s decision to go on with Iran oil imports while also stressing cordial relations between the two countries.

The report said India's determination to continue buying Iranian oil, despite Western sanctions on Iran's oil and financial sectors, has greatly concerned officials in Washington at a time when the forward momentum in the US-India relationship has already slowed.

The situation was exacerbated last week by reports about India becoming Iran's top oil customer and New Delhi’s plan to send a trade delegation to Tehran.

In fact, The Economic Times stated, Indian diplomats and analysts maintain that India's purchasing of Iranian oil is a matter of economic necessity for the country, given its dependence on imported oil.

Some say the purchases also represent diplomatic hedging in a region bracing for the withdrawal of US troops from Afghanistan by 2014, or possibly sooner.

Many Indian officials, even those supportive of a stronger partnership with the United States, have cautioned against turning issues like Iran into diplomatic litmus tests.

"This can't be a test of our friendship…. Washington must realize that we are in a neighborhood where Iran is a factor,"


said Lalit Mansingh, a former Indian ambassador to the United States.

India's foremost concern, experts say, is fueling its economy, which has slowed in the past year. The country buys about 12 percent of its crude oil from Iran, and many Indian refineries have been built to run solely on Iranian crude.

"To shift [to another crude] is not something that can be done very easily," said one senior Indian official, who spoke on the condition of anonymity, adding, "Where would we get that refining capacity? Who would be our new suppliers?"

The report stated that although US sanctions have made it difficult for India to pay for Iran's oil, Indian oil companies have made payments to Iran through a bank in Turkey that is outside the US restrictions.

Indian officials are also preparing for the likelihood of the imminent closure of Turkish avenue by agreeing on a deal with Iran in which Indian companies would pay for 45 percent of their imports in Indian rupees. The two sides have indicated that they may even settle the remainder of the debts through barter, the report concluded.

The US, Israel and their European allies accuse Iran of diversion in its peaceful nuclear program and have used this as an excuse to pass four rounds of international sanctions against the country at the UN Security Council.

Refuting the claims, Tehran insists that as a member to the International Atomic Energy Agency and the Nuclear Non-Proliferation Treaty (NPT), it is fully entitled to peaceful applications of the nuclear energy.

SS/HGH/IS




Author: sansukong    Time: 2012-2-18 19:20:33     Title: RE: Iran to increase oil export to China to 500K bpd in 2012

sansukong Post time: 2012-2-18 18:06
India’s oil imports from Iran irk US
India buys about 12 percent of its crude oil from Iran.

India increases Iran oil imports
Iran's crude oil exports to India have increased 37.5% in January.

Wed Feb 8, 2012 7:17PM GM




India has increased oil imports from Iran to become the Islamic Republic's largest customer last month, ignoring recent sanctions imposed by US and EU on importing Iran’s oil.


According to The Wall Street Journal Iranian crude exports to India rose to 550,000 barrels a day in January, up 37.5 percent from December 2011.

The development, the report said, has partly offset a 50 percent cut in crude exports to China as a result of pricing dispute. China now imports around 250,000 barrels a day from Iran.

The news comes despite the West’s rising pressure on Iran to halt its peaceful nuclear program.

On the New Year’s Eve, the United States imposed new sanctions against Iran aimed at preventing other countries from importing Iran’s oil and doing transactions with its central bank.

European Union foreign ministers also approved sanctions against Iran’s oil and financial sectors on January 23, including a ban on Iranian oil imports, a freeze on the assets of the country’s Central Bank within EU states, and a ban on selling diamonds, gold, and other precious metals to Tehran.

Although financial sanctions have caused problems with regard to payment for Iran’s oil by other countries, they have apparently not been able to deter India.

Iran's Ambassador to India Seyyed Mehdi Nabizadeh said last Tuesday that India had agreed to pay for some purchases of Iranian oil in Indian rupees, a route that would avoid the risk of an interruption in banking transfers.

Meanwhile, despite a pledge to find alternative supply sources for Iran’s oil, South Africa has also increased its Iranian oil imports to 100,000 barrels a day, The Wall Street Journalquoted an unnamed informed source as saying.

The US, Israel and their European allies accuse Iran of diversion in its peaceful nuclear program and have used this as an excuse to pass four rounds of international sanctions against the country at the UN Security Council.

Refuting the claims, Tehran insists that as a member to the International Atomic Energy Agency and the Nuclear Non-Proliferation Treaty (NPT), it is fully entitled to peaceful applications of the nuclear energy.

SS/AZ/HGH




Author: travolta    Time: 2012-2-18 20:03:55

glory belongs to great Islamic Republic of Iran, glory belongs to great leader Mahmoud Ahmadinejad
Author: macanese    Time: 2012-3-17 04:20:59

Does Uncle Sam have the guts to bomb Iran, China and India..... just because of oil ?!

Iran can sell as much as it wants to China and India, and Uncle sam can do nothing about it.

The XXI century belongs to the SCO and BRICS nations. The Anglo-American empires are fading

Author: sansukong    Time: 2012-3-18 04:30:48     Title: RE: Iran to increase oil export to China to 500K bpd in 2012

sansukong Post time: 2012-2-18 18:06
India’s oil imports from Iran irk US
India buys about 12 percent of its crude oil from Iran.

Related Article:

US threatens sanctions against India over Iran oil
Author: sansukong    Time: 2012-3-20 09:51:22     Title: RE: Iran to increase oil export to China to 500K bpd in 2012

This post was edited by sansukong at 2012-3-23 01:16

SUNDAY, MARCH 18, 2012   
China Will Ensure Tankers Can Haul Iran Oil

DAILYHERALD.COMSOTT.NET

China, the biggest buyer of Iranian oil, will take steps to prevent European trade sanctions disrupting shipments from the Persian Gulf nation, said tanker operator China Shipping Development Co.

The government has discussed ways of helping shipping companies get insurance once sanctions against Iran kick in on July 1, General Manager Yan Zhichong told reporters in Hong Kong today. The ministry of transport and National Development Reform Commission has had special meetings on the issue, he said.

"The attitude is clear - we must make sure that the volume of our shipments will not drop," Yan said. "The government regards it as a very important issue."

China may nominate an insurer to cover oil shipments from Iran to ensure that supplies can continue, Yan said. European Union sanctions on Iran threaten to disrupt oil shipments because about 95 percent of the world's tankers are insured against risks such as oil spills by the 13 members of the London-based International Group of P&I Clubs, according to Andrew Bardot, its secretary and executive officer.

China Shipping Development had a fleet of 72 tankers at the end of last year. The company is part of state-controlled China Shipping Group Co., the nation's biggest sea-cargo carrier after China Ocean Shipping Group Co.

China Shipping so far hasn't had any disruptions in its cargos from Iran, Yan said. The Asian nation is underwriting some oil shipments, according to the International Energy Agency.


About 22 percent of Iranian oil exports go to China, according to U.S. Department of Energy estimates. The Asian nation opposes trade restrictions against Iran and said oil sanctions aren't "constructive," the official Xinhua News Agency reported Jan. 26, citing comments from the Ministry of Foreign Affairs.

The European Union and U.S. have imposed sanctions on Iran because of the nation's nuclear program. Iran has said that the project is just for civilian use.





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