Not Logged In Log In   Sign Up   Points Leaders
Follow Us    12:49 PM

GasBuddy News Article

38
votes
U.K.’s Hague Says Halt in Iran Oil Sales Will Have ‘No Impact’

Bloomberg -- Iran’s decision to halt sales of crude oil to French and British buyers to pre-empt a European Union ban on imports will have “no impact on Britain’s energy security or supplies,” said U.K. Foreign Secretary William Hague.
Iran “will give its crude oil to new customers instead of French and U.K. companies,” the Shana oil ministry news website reported, citing Alireza Nikzad Rahbar, a ministry spokesman. The announcement came as OPEC’s second-biggest producer negotiates contracts to supply China.
The action may “prompt further price gains for crude,” John Caiazzo, president of Acuvest Commodity Brokers Inc. in Temecula, California, wrote in a note to clients today.
France got 4 percent of its oil imports from Iran in the first half of 2011 and the U.K. 1 percent, ...


Read the Full Article

Submitted Feb 21, 2012 By: BurntOrange
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: U.K.’s Hague Says Halt in Iran Oil Sales Will Have ‘No Impact’ Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
ExplorerWA
Champion Author Washington

Posts:5,800
Points:1,128,060
Joined:Feb 2011
Message Posted: Feb 21, 2012 7:57:48 PM

They will have no trouble finding new buyers.
Profile Pic
glorioussnookie
Champion Author Tennessee

Posts:4,291
Points:780,435
Joined:Feb 2010
Message Posted: Feb 21, 2012 11:46:50 AM

Definitely click on SkyWarnTX links!

They are real valid eye openers!!!
Profile Pic
sjf238
Champion Author Philadelphia

Posts:1,215
Points:650,655
Joined:Mar 2011
Message Posted: Feb 21, 2012 10:26:13 AM

Good.
Profile Pic
Gas_Eyes
Champion Author Dallas

Posts:2,857
Points:681,310
Joined:Mar 2011
Message Posted: Feb 21, 2012 9:26:20 AM

Iran's crude high sulphur content can not be given away easily because refineries have to be reconfigured to refine that crude. Even China and India do not have the refining capacities to refine all the Iranian crude that has been sanctioned

Iran only has specific type of crude that they can sell to a limited number of refineries.

Buyers of crude have more option because alternate source of crude is easier to find.

The sanction is a major disruption to Iran but a smaller one for the oil consuming world.

The world needs to stick to this sanction. It is close to working.

Iran has no choice but to comply with the nuclear non-proliferation treaty that it signed.

The sanctions need to stay in place until Iran opens up ALL their nuclear facilities with no conditions. They can not be allowed to play the games that North Korea played.
Profile Pic
SkyWarnTX
All-Star Author Texas

Posts:947
Points:57,185
Joined:Jan 2012
Message Posted: Feb 21, 2012 8:01:49 AM

---

?? Think BIG BANKS & SPECULATORS are causing the RISE in OIL Prices ??

YOU ARE CORRECT, BUT DO YOU KNOW HOW BIG BANKS & SPECULATORS CAME TO BE BIG OIL ENERGY TYCOONS… ? VIEW THIS ... AND YOU TOO WILL KNOW, THE REST OF THE STORY...

CLICK HERE to WATCH the VIDEO explaining how WE GOT TO THIS POINT in GAS PRICES & HOME HEATING BILLS

---
Profile Pic
imcheep
Champion Author New Mexico

Posts:3,378
Points:824,455
Joined:Apr 2005
Message Posted: Feb 21, 2012 8:01:04 AM

India and China will simply replace the UK as a customer.
Profile Pic
Cothrom
Champion Author South Carolina

Posts:2,832
Points:1,042,740
Joined:Sep 2005
Message Posted: Feb 21, 2012 7:25:27 AM

Just the talk of impact is enough, prices slowly (and sometimes quickly) go up. A year this will be
Profile Pic
peakkeller
Champion Author Colorado Springs

Posts:2,464
Points:940,545
Joined:Dec 2009
Message Posted: Feb 21, 2012 7:21:12 AM

China will simply replace the UK as a customer.
Profile Pic
crestliner95
Veteran Author Illinois

Posts:294
Points:113,325
Joined:May 2011
Message Posted: Feb 21, 2012 7:10:25 AM

No impact? Tell that to the speculators.
Profile Pic
el_fr
Champion Author Massachusetts

Posts:5,002
Points:1,077,430
Joined:Apr 2011
Message Posted: Feb 21, 2012 6:44:36 AM

If only it was true.
Profile Pic
orphancarguyPE
Champion Author PEI

Posts:5,358
Points:1,047,930
Joined:Jan 2011
Message Posted: Feb 21, 2012 6:35:39 AM

Well, of course not to the UK, which hasn't imported any Iranian oil in the last six month, and apparently only 1% of its supply in the first six months of 2011.

It will be a 'moth bite' to France as well. And the rest of Europe will have a bit of leeway to make other arrangements. China will purchase all the Iranian oil that is going...and perhaps? not purchase quite as much from some current sources? so that it will flow to Europe instead of China?

There--"Realpolitik" at work. Everyone gets to stand up on their hind legs make a public stand and yap yap yap to their home audience, telling them what they want to hear, and make 'statements of principles'. I can hear the self-inflicted back-patting going on from here.

Really, if ANYONE wants to understand how everything actually works, (unless you have actually nutjobs in charge of things, who have no shame) all you have to do is rent or buy the two viciously funny British series "Yes, Minister" and "Yes, Prime Minister". In real life, politicians are rarely as funny but change the accents and the situations, and they are all as true today in Beijing, and Washington, and London, and Paris, and Tehran as the series were.
Profile Pic
kress999
Sophomore Author Alabama

Posts:218
Points:367,525
Joined:May 2011
Message Posted: Feb 21, 2012 6:32:53 AM

Hard to see why oil and gas is going up if it is having no impact
Profile Pic
johntxx
Champion Author Texas

Posts:4,599
Points:945,420
Joined:Aug 2011
Message Posted: Feb 21, 2012 6:24:29 AM

"No Impact", would someone please share this with the speculators.
Profile Pic
doeslayersr
Champion Author Illinois

Posts:11,190
Points:1,203,205
Joined:Dec 2010
Message Posted: Feb 21, 2012 6:22:46 AM

Iran was not supplying them much if any in the way of oil to begin with.
Profile Pic
Nicoalbum
Champion Author Ottawa

Posts:7,863
Points:1,519,735
Joined:Jan 2010
Message Posted: Feb 21, 2012 6:20:59 AM

Yes, there is a very little impact.
Profile Pic
SkyWarnTX
All-Star Author Texas

Posts:947
Points:57,185
Joined:Jan 2012
Message Posted: Feb 21, 2012 6:10:09 AM

---

The "ENRON LOOP HOLE" allows WALL STREET SPECULATORS to legally trade in the OIL FUTURES MARKET...

CLICK HERE to WATCH the VIDEO explaining the ENRON LOOP HOLE

?? Think SPECULATORS are causing the RISE in OIL Prices ??

---
Post a reply Back to Topics