Industrialized Cyclist Notepad


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



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.