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Iran oil exports continue off radar

by Zamaneh Media
April 14, 2012
in Latest Articles
Reading Time: 2min read
0
Iran oil exports continue off radar

Iran continues to export its oil, but the oil tankers transporting its crude have disabled their onboard tracking systems, making it difficult to assess the details of its oil deals.

Iran is trying to counter Western sanctions on its oil industry that aim to cripple Iran’s economy and convince it to acquiesce to Western demands regarding its nuclear program.

Reuters cites sources in the oil industry, trading and shipping who say the National Iranian Tanker Company has ordered all its captains to “switch off the black box transponders that are used in the shipping industry to monitor vessel movements.”

An unidentified senior executive at a national oil company that has done business with Iran has told Reuters that Iran, together with its customers, is trying to conceal its oil deals, adding that the second-biggest oil producer in OPEC is probably offering “discounts in the form of free freight, finance and insurance and generous credit terms” in order to counter the international sanctions.

The EU has imposed an embargo on Iranian crude starting July 2012, and the U.S. has worked on trying to get Iran’s Asian oil customers to reduce their oil imports from Iran, threatening to penalize companies and financial institutions that have dealings with Iran.

Experts say that it is now more difficult to assess how far Iran’s crude exports have fallen. Earlier assessments in March had marked a decline of 1.9 million barrels per day.

Iranian Oil Minister Rostam Ghassemi has dismissed reports of declining oil exports, saying crude exports remain steady at last year’s rate of 2.2 million barrels a day.

Iran’s Oil Ministry has confirmed, however, that it has cut off Greece, Spain, UK, France, and Germany from its list of oil customers in response to EU sanctions, but Iran has said that it can easily replace these customers.

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RSS Iran in other media

  • Macron asks Iran for ‘clear gestures’ on nuclear inspections - Al Jazeera English
  • CERAWEEK-Trafigura economist says full restoration of Iranian oil far off - Devdiscourse
  • Turkey-Iran relations and their presence in Iraq | Daily Sabah - Daily Sabah
  • Pakistan-Iran-Turkey Cargo Train Service to Resume This Week - VOA Asia
  • France to push ahead with Iran censure resolution at IAEA - foreign minister - Reuters
  • Some $154m paid to support tourism businesses across Iran - Tehran Times
  • Ireland set to reopen embassy in Iran by 2023 - RTE.ie
  • US Treasury sanctions Iran-backed Houthi leaders - The Jerusalem Post
  • Iran's only female Olympic medallist to compete under white flag in Tokyo - Yahoo Sports
  • Iran's only female Olympic medalist to compete as refugee in Tokyo - The Jerusalem Post
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