Industrialized Cyclist Notepad


But there isn’t any

U.S. Secretary of State Hillary Rodham Clinton urged energy-starved India on Monday to reduce its Iranian oil imports to keep up pressure on the Islamic republic to come clean about its nuclear program.

In meetings in the capital, New Delhi, Ms. Clinton was expected to push for India to find alternative sources of oil on the international market.

uhh…

Earlier Monday, she told a town hall meeting in the eastern city of Kolkata that there’s an adequate supply in the market for India to find other suppliers. Ms. Clinton noted India has taken some steps to reduce its imports from Iran but she says the U.S. wants to see more.

“If there weren’t an adequate supply … we would understand, but we believe that there is adequate supply,” she said.

Do they really believe that? Because that is impressively delusional, even for these Champions of Delusion.

Or… Is there really something else going on here? Ah yes — Wal-Mart wants to open in India, and the US is using the threat of sanctions to shoehorn ‘em in.

When asked whether India could get a waiver from the Iran sanctions, Ms. Clinton said it was too early to discuss that possibility.

Ms. Clinton also met Monday with West Bengal Chief Minister Mamata Banerjee, a key partner of India’s ruling coalition who has stymied government efforts to lift restrictions on foreign-owned investments in the country.

Ms. Clinton had a long conversation with Ms. Banerjee about allowing multi-brand retailers, such as Wal-Mart, enter the market, U.S. officials said after the meeting.

Last year, India’s Cabinet had to rescind a decision to open up its market to major foreign retailers after Ms. Banerjee balked at the move, saying it would crush small domestic retailers.

Ah ha. You see how this works.

via Clinton presses India to cut oil imports from Iran – The Globe and Mail.



Iran-China oil trade under way

But…but…

Zhuhai Zhenrong Co., the Chinese company censured by the U.S. in January for trading with Iran, provisionally hired an oil tanker to carry fuel oil from the Persian Gulf nation, shipping data showed.

Tianbao, a unit of state-owned Zhuhai Zhenrong, chartered the Khorfakkan to load 80,000 metric tons on May 15 from the Iranian port of Bandar Mahshahr, according to three shipbrokers including Poten & Partners Inc. in New York. The Liberia-flagged vessel is under way in the Persian Gulf, transmissions captured by IHS Inc. (IHS) on Bloomberg show.

Fuel oil is a residual product of refining used for power generation and as shipping fuel. [...]

via Bloomberg: http://www.bloomberg.com/news/2012-05-04/china-s-zhuhai-zhenrong-books-may-fuel-oil-shipment-from-iran.html



Iran tankers turn off transponders, but it’s pretty obvious where they’re going

It has long been assumed Iran would sell most of the oil shunned by Europe to China, its long-term strategic and commercial ally. But until now there has been scant proof.

India, however, has been buying oil on Iranian ships on extended credit for several months, industry sources say.

via THE DAILY STAR :: Business :: Middle East :: Iran employs off-radar oil shipping tactics to counter Western sanctions.



The Effect of Iran Sanctions

Closer relations between Iran, India and China; creation of new financial networks to bypass the West. The inability to control Iran through non-military means may make military action more likely.

NEW DELHI, MARCH 28: 

India and China on Wednesday indicated that they will continue to maintain normal relations with Iran, while citing high crude oil prices and energy security concerns.

The Chinese Commerce Minister, Mr Chen Deming, said China respects all the United Nations resolutions.

However, in a veiled reference to the US sanctions on Iran, he added that Beijing is not obliged to follow the domestic rules and regulations of any particular country.

via Business Line : Industry & Economy News : India, China to maintain ties with Iran despite US, EU sanctions.



U.S. exempts 11 countries from Iran sanctions

As South Korea buys more…

In contrast to Japan, South Korea, the world’s fifth-largest oil importer, increased its imports from Iran in 2011 by 20 percent. It’s refiners have signed deals to import a little more crude again from Iran in 2012.

South Africa’s energy minister said last week he hoped to have a plan by the end of May for replacing Iran supplies, which currently make up a quarter of its crude imports.

But reflecting a problem for several countries, Turkey’s energy minister, Taner Yildiz, told reporters on Wednesday the country could not stop buying Iran crude unless alternative oil sources were found.

via U.S. exempts 11 countries from Iran sanctions; China, India exposed – chicagotribune.com.



Iran offers to front Pakistan 80,000 bpd

First one’s free. Yeah.. If you like it, you know where to find me. Tell your friends.

“It is only an initial offer of 80,000 barrels on deferred payment at the moment,” Irfan Qazi, a spokesman for Pakistan’s Ministry of Petroleum and Natural Resources, told Reuters.

via Iran offers Pakistan 80,000 bpd of oil – official | Reuters.



How sanctions against Iran backfire
February 28, 2012, 10:28
Filed under: Uncategorized | Tags: , , , ,


Iran will double oil exports to China in 2012

China is the main beneficiary of US sanctions against Iran, securing more supply at lower prices.

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.

via Iran to increase oil export to China to 500K bpd in 2012 – China Forum – Powered by Discuz!.



Saudis tell Cantor they can make up for Iran

Is it true though? Will it still be true six months from now when the sanctions kick in for Euro? Does it even matter if China, India et al keep buying Iran’s oil? Is this just theater, the whole thing?

Saudis have enough oil to make up for Iran.



China benefits from U.S. sanctions
January 13, 2012, 18:50
Filed under: Uncategorized | Tags: , , , , ,

Looking increasingly limp, U.S. tries to escalate by imposing sanctions on Chinese companies trading petroleum products with Iran. China laughs.

http://www.bloomberg.com/news/2012-01-12/china-gets-cheaper-iran-oil-as-u-s-pays-tab-for-hormuz-patrols.html




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