Four Asian countries are now purchasing nearly all of Iran’s oil
exports, the Economist’s Intelligence Unit (EIU) reported this week.
“Almost all of Iran's oil exports now go to China, South Korea, Japan
and India,” said the report. The report also noted a sharp decline in the
amount of oil each of these countries purchased from Iran during 2012. (EIU/The
Diplomat, 5 January)
Iran’s oil exports have been cut in half as a result of U.S. and EU
sanctions that were enacted last year. The International Energy Administration
(IEA) has estimated Iran’s current exports at 1.1 million barrels a day, as
compared to 2.2 million b/d in 2001. Iran’s government budget for the Iranian
calendar year that began last March also forecasted oil exports of 2.2 b/d. Oil
exports make up 80% of Iran’s total export earnings and 50-60% of government
revenues.
The situation is only likely to worsen for Iran in the months ahead. The
rise in oil exports by Iraq and Libya, coupled with a sluggish global economic
growth has made it easier for the West to sustain the sanctions without seriously upsetting
oil prices, the report indicates. Also, next month a new provision of U.S.
sanctions will go into effect, prohibiting countries to transfer payments for oil to Iran directly or through a third-party, instead requiring that
these funds be deposited and kept in banks located in the purchasing country
and used by Iran only to purchase approved goods and services.
File photo: Iran’s Kharg oil export terminal (Getty Images)
File photo: Iran’s Kharg oil export terminal (Getty Images)
9 comments:
IRAN HAS BY PASSED THE OIL SANCTION AND HAS RESUMED HIGHER PRODUCTION ACCORDING TO OIL MINISTER.IRAN IS FLAGGING ITS OWN OIL TANKERS AND SAVING MILLIONS OF DOLLARS A DAY BY NOT USING FOREIGN OIL TANKERS AND PAY HIGH INSURANCE PREMIUMS.IN 6 MONTHS TIME IRAN HAS SAVED OVER 700 MILLIONS ON INSURANCE FEES.IRAN HAS WORKED OUT A PLAN FOR REVENUES FROM OIL SELL TO THE ABOVE COUNTRIES.OIL PRICES WILL GO UP IN 2013 AND IRAN NONE OIL EXPORT HAS REACHE 55 BILLIONS THIS YEAR.SOON OUR NONE OIL EXPORT EXCEEDS OIL EXPORT REVENUES.IRAN ECONOMY IS GEARED UP ON ZERO OIL EXPORT,IN NEAR FUTURE IN 2 YEARS TIME IRAN EXPORT FUEL,GASOLINE MOSTLY INSTEAD OF CRUDE OIL.
everything doesnot kille, makes me stronger
even this sanctios are best opportunity to become independent from oil export
If oil supplies run out, man may have to fall back on the horse or whatever that can be used as the mode of transports. Therefore IRAN should first of all, reserve a large quantity of oil for its own purposes and domestic uses for years to come. In future, it is well said that oil will definitely be the most valuable and expensive item in the world. I guess.
OH MY........!!!!!
http://www.statsweeper.com/index.php?g=daily.1813
As Always I would like to thank you so very much......your comrade & good friend....
Vlady P.
If you believe that BS then I feel sorry for you.
Hello,is Iran being paid for this oil in hard cash???
A big FAT NO!
and also to become independent of allies and a developed economy and as much food as Iranian families are used to eating.
fabulous opportunity, simply fabulous.
sorry america and jews. you cant dictate sovereign country's economy policy. purchasing iran oil is the absolute right of each country without having to ask permission from washington of israel
and yet Iran is selling less and less oil to fewer and fewer other nations.
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