Iran tankers fleet growing

Sanction efficiency # energy pragmastism

China delivers first of new Iranian oil tankers

A Chinese shipyard has delivered the first of 12 supertankers to Iran, giving Tehran extra capacity to transport its oil to Asia as it struggles against Western sanctions, but it is unclear if the ship has the permits necessary to call at global ports.

And in the meanwhile what about Afghanistan resources?

Exxon Explores ‘Very Promising’ Oil And Gas Fields In Afghanistan

More top-tier energy companies are likely to join the race to explore for oil and gas in Afghanistan after the world’s biggest publicly traded firm, Exxon Mobil, changed perceptions of what the country may hold by showing interest in drilling.

Turkey oil blocks

Oil & Gas in Turkey Map

Will Turkey become an Oil & Gas regional power?

Shell drills deeper into Turkish fuel exploration

Alongside its activities in the Mediterranean and exploring for shale gas in Diyarbakır, Dutch Shell is also interested in oil and gas exploration in Turkey’s Black Sea.
Royal Dutch Shell and Türkiye Petrolleri Anonim Ortaklığı (TPAO) began exploring for shale gas last week in the eastern province of Diyarbakır’s Sarıbuğday-1 natural gas field, Energy Minister Taner Yıldız announced yesterday.

And in the meanwile Arctic keeps on melting!

As the Arctic melts, Asia shudders at the risks but slavers at the opportunities

The Arctic is melting faster than almost anybody expected. It has just been reported that the area of sea ice has never been smaller. And having already surpassed previous annual low points in August, it will shrink further in September. Since 1951 the Arctic has warmed roughly twice as much as the global average. So the latest record is a frightening milestone in the advance of climate change. Yet for many in Asia, in the short term, greed trumps fear. The thawing of the north offers the prospect both of access to untold mineral wealth and drastically shorter shipping routes to the Atlantic.

Shaping the Future: Energy Security in India

Prime Minister Manmohan Singh to visit Iran on August 29

Prime Minister Manmohan Singh will travel to Iran on August 29 to attend the Non-Aligned Movement (NAM) Summit on the sidelines of which he is expected to meet Pakistan President Asif Ali Zardari besides some other foreign leaders.

Reports regarding India allegedly banning U.S.-sanctioned Iranian ships from entering Indian waters

Government has seen media reports regarding India allegedly banning U.S.-sanctioned Iranian ships from entering Indian waters. These reports are incorrect. With the EU sanctions, which came into effect on July 1, 2012, some complications arose due to the non-availability of P&I club insurance to ships carrying Iranian crude oil. Consequently, a general exemption was granted by Government to foreign ships carrying Iranian crude oil on CIF basis to dock at Indian ports under certain conditions. Subsequently, the national insurance companies have agreed to extend insurance cover to Indian ships for transportation of Iranian crude to India. In view of this, the general exemption granted earlier to oil PSUs for carrying Iranian crude on CIF basis has been withdrawn. We understand that there are some issues yet to be resolved between the national insurance companies and the ship owners regarding the terms of the insurance cover to be provided to Indian ships for carrying Iranian crude oil to India. While the matter is being resolved, permission for ships carrying Iranian crude oil to India on CIF basis is being granted on a case by case basis on the request of oil PSUs. 

Wesley Clark Seeks Licence For Oil in Kosovo

The US General who led NATO’s campaign against Serbia in 1999 has asked Kosovo’s government for a licence to transform the country’s untapped coal reserves into fuel, a letter obtained by Prishtina Insight reveals.

Sudan to block oil pipeline if south will not pay

« Sudan halts oil exports » of South Sudan

It started as an impasse between Sudan and South Sudan over oil transit fees and ended with the shutdown of South Sudan’s oil production, halting crude oil exports from Bashayer Terminal: exports of Sudanese crude oil, which in the first quarter of 2012 reached only a third of 2010 levels …

YPF dispute: Argentina runs the risk of becoming an ‘international pariah” warns Spain

Spanish officials warned Argentina on Friday that the country risks becoming “an international pariah” if it follows through on its threats to take control of Spanish-owned energy company Repsol’s majority stake in its YPF unit.

India’s trade deficit widens on crude import bill

India’s trade deficit has surged to a whopping $185 billion for the financial year ended March 31, 2012 due to skyrocketing crude oil prices in the international market and this is expected to keep the rupee under pressure.

Europe: energy bill vs « oil sanctions »

While Iran has announced it will stop its oil sales to Greece, as counter-sanctions, Europe will have to face a sharp increase of its “energy bill” with estimated 500 billion Euros.

“Alors que l’Iran vient d’annoncer vouloir stopper ses exportations de pétrole vers la Grèce, réagissant ainsi à sa manière à l’embargo pétrolier décrété par l’Union européenne en vue de freiner le programme nucléaire iranien, l’Agence internationale de l’énergie estime pour sa part que la facture énergétique de l’ensemble des différents pays membres de l’UE pourrait s’élever à la modique somme de 500 milliards de dollars en 2012.”

Taoudeni basin oil ressources: a multi country ressource and problem.

Mali: Algeria’s Sonatrach to commence Mali oil drilling by mid 2012

Algerian state energy group Sonatrach will start long-awaited drilling for oil in Mali’s section of the Taoudeni Basin by mid-2012, the company’s managing director said on Malian state radio. Sonatrach signed a deal for oil exploration in Mali in 2007, but progress has been slow in the basin, which straddles Mali, Algeria and Mauritania. The area is overrun by gunmen, some of whom are linked to al Qaeda.

India Said to Plan Using Foreign Currency for Iran Oil Deals

India may continue paying for Iranian oil in foreign currencies until European Union sanctions take effect in July, when buyers will start using rupees, according to two people with knowledge of the matter.

India will waive taxes on rupee-payments for crude, it said in its March 16 budget. That raised speculation refiners will start settling its oil bill with Iran in local currency to avoid international sanctions. While India could start paying for about 45 percent of the oil in rupees from next month, the countries prefer to settle trades in foreign tender such as euros, the people said, declining to be identified because the information is confidential.

Oil falls on large China trade deficit

Crude-oil futures declined on Monday as investors parsed China’s surprisingly large trade deficit and its implications for the global economy and oil demand.

China reported a much bigger-than-expected trade deficit of $31.48 billion in February, turning around sharply from a $27.28 billion surplus in January.

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