Oil-laden Iran tankers set to target India and Europe

[Donald Trump]

SINGAPORE: With Iran poised to resume usual business ties with the world under a historic nuclear deal, Tehran is set to target India, Asia's fastest-growing major oil market, and old partners in Europe with hundreds of thousands of barrels of its crude.

Iran expects the United Nations (UN) nuclear watchdog to confirm on Friday it has curtailed its nuclear programme, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports.

Tehran plans to lift exports by 500,000 barrels per day (bpd) post-sanctions and gradually raise shipments by the same amount again, adding to a glut of global oil and likely putting more pressure on oil prices which have already dropped 70 per cent since 2014 to around $30 per barrel.

Iran has 22 Very Large Crude Carriers (VLCC) floating off its coast, with 13 fully or almost fully loaded, mapping data on Thomson Reuters' Eikon showed, carrying enough crude to meet India's import needs for almost a week.

A senior Iranian source close to supply negotiations said that the country ─ which has the world's fourth-biggest proven oil reserves ─ was targeting India as its main destination for crude.

"Indian crude demand is growing faster than other Asian countries. Like our competitors, we see this country as one of the main targets for Asian sales," said an official.

Iran hopes to raise its exports to India by 200,000 bpd, up from the 260,000 bpd currently shipped under sanctions' restrictions, the official said.

At the right price, Indian refiners said they were keen to import more from Iran, as the country's demand for fuel soars on the back of 10pc annual growth in car sales, a rate that is now faster than China's.

"We have a long-lasting relationship with Iran and post lifting of sanctions we will evaluate the scenario," said L K Gupta, managing director of India's Essar Oil.

"It makes sense to buy oil from nearby options (like Iran)," said H. Kumar, managing director of another Indian oil firm, Mangalore Refinery and Petrochemicals, but added "intake will depend on prices".

The Iranian official said there was not much room for major export increases to China, South Korea or Japan due to slowing demand and also because of a shift there towards more non-Middle East crudes.

As clock ticks down on sanctions, oil-laden Iran tankers set to target India and Europe - Business - DAWN.COM

A win-win situation for both India and Iran. The cost of fuel at the pumps will probably dive to around Rs 50 per liter for petrol. Hopefully!

 

[H.B.]

SINGAPORE: With Iran poised to resume usual business ties with the world under a historic nuclear deal, Tehran is set to target India, Asia's fastest-growing major oil market, and old partners in Europe with hundreds of thousands of barrels of its crude.

Iran expects the United Nations (UN) nuclear watchdog to confirm on Friday it has curtailed its nuclear programme, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports.

Tehran plans to lift exports by 500,000 barrels per day (bpd) post-sanctions and gradually raise shipments by the same amount again, adding to a glut of global oil and likely putting more pressure on oil prices which have already dropped 70 per cent since 2014 to around $30 per barrel.

Iran has 22 Very Large Crude Carriers (VLCC) floating off its coast, with 13 fully or almost fully loaded, mapping data on Thomson Reuters' Eikon showed, carrying enough crude to meet India's import needs for almost a week.

A senior Iranian source close to supply negotiations said that the country ─ which has the world's fourth-biggest proven oil reserves ─ was targeting India as its main destination for crude.

"Indian crude demand is growing faster than other Asian countries. Like our competitors, we see this country as one of the main targets for Asian sales," said an official.

Iran hopes to raise its exports to India by 200,000 bpd, up from the 260,000 bpd currently shipped under sanctions' restrictions, the official said.

At the right price, Indian refiners said they were keen to import more from Iran, as the country's demand for fuel soars on the back of 10pc annual growth in car sales, a rate that is now faster than China's.

"We have a long-lasting relationship with Iran and post lifting of sanctions we will evaluate the scenario," said L K Gupta, managing director of India's Essar Oil.

"It makes sense to buy oil from nearby options (like Iran)," said H. Kumar, managing director of another Indian oil firm, Mangalore Refinery and Petrochemicals, but added "intake will depend on prices".

The Iranian official said there was not much room for major export increases to China, South Korea or Japan due to slowing demand and also because of a shift there towards more non-Middle East crudes.

As clock ticks down on sanctions, oil-laden Iran tankers set to target India and Europe - Business - DAWN.COM

A win-win situation for both India and Iran. The cost of fuel at the pumps will probably dive to around Rs 50 per liter for petrol. Hopefully!

Price of petrol should not fall below Rs. 55.
Reasons:

Current petrol price is well adjusted within the overall economy. It will not cause inflation. However, dropping price too far will change the comfort level within economy. Subsequent rise, if any, will have negative consequences for the economy and also politically.

Lower petrol prices will be a huge disincentive to renewable energy. This we cannot afford.

Lastly, will fix up fiscal deficit largely.

 

[SrNair]

@SOHEIL @kollang @yavar @Serpentine and all other Iranian members .

 

[PeaceGen]

SINGAPORE: With Iran poised to resume usual business ties with the world under a historic nuclear deal, Tehran is set to target India, Asia's fastest-growing major oil market, and old partners in Europe with hundreds of thousands of barrels of its crude.

Iran expects the United Nations (UN) nuclear watchdog to confirm on Friday it has curtailed its nuclear programme, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports.

Tehran plans to lift exports by 500,000 barrels per day (bpd) post-sanctions and gradually raise shipments by the same amount again, adding to a glut of global oil and likely putting more pressure on oil prices which have already dropped 70 per cent since 2014 to around $30 per barrel.

Iran has 22 Very Large Crude Carriers (VLCC) floating off its coast, with 13 fully or almost fully loaded, mapping data on Thomson Reuters' Eikon showed, carrying enough crude to meet India's import needs for almost a week.

A senior Iranian source close to supply negotiations said that the country ─ which has the world's fourth-biggest proven oil reserves ─ was targeting India as its main destination for crude.

"Indian crude demand is growing faster than other Asian countries. Like our competitors, we see this country as one of the main targets for Asian sales," said an official.

Iran hopes to raise its exports to India by 200,000 bpd, up from the 260,000 bpd currently shipped under sanctions' restrictions, the official said.

At the right price, Indian refiners said they were keen to import more from Iran, as the country's demand for fuel soars on the back of 10pc annual growth in car sales, a rate that is now faster than China's.

"We have a long-lasting relationship with Iran and post lifting of sanctions we will evaluate the scenario," said L K Gupta, managing director of India's Essar Oil.

"It makes sense to buy oil from nearby options (like Iran)," said H. Kumar, managing director of another Indian oil firm, Mangalore Refinery and Petrochemicals, but added "intake will depend on prices".

The Iranian official said there was not much room for major export increases to China, South Korea or Japan due to slowing demand and also because of a shift there towards more non-Middle East crudes.

As clock ticks down on sanctions, oil-laden Iran tankers set to target India and Europe - Business - DAWN.COM

A win-win situation for both India and Iran. The cost of fuel at the pumps will probably dive to around Rs 50 per liter for petrol. Hopefully!

It is in Iran's best interest, both for all it's leadership teams and for it's general population,
to let go of their nuclear(-armament/medical) expansion politics, especially when considering that nuclear fission is soon to get replaced with actually-safe nuclear fusion (Compact Fusion · Lockheed Martin ) and there's also the vast potential of solar power (both for electrical and clean-water purposes) to keep the deserts profitable on the international stages.

Feel free to ask me to clarify more. My design for clear water out of sea water is only like 3 paragraphs long..

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*and* :
Send a Letter to the President

--wateridea:

Earth and it's population are facing food price hikes and drinking-water price hikes coz water and food are purposefully made into scarce resources. Confessions of this have even reached mass-media newsheadlines, and i'll save you all (the wrath of the "economic elite" and population-control(-tech) fans, and) the full evidence files from my personal experience as usual ok..

So.. seawater. contains salt, can't be used for farming and can't be used for drinkingwater.
But you can evaporate seawater with enough heat.
So, you pump seawater without pollutants (plenty of that, just suck it up from a safely deep depth and ur laughing (again)) into a desert(-like) environment, where you:
- have thick black plastic cones with a circular base, leading to a round top of about 1 inch or so, and you put a small longlasting fan on top of that top of the black plastic cone that is run on solarpanels. that fan at the top sucks up the moisture, and you have one of those solarpanel powered refridigator plates (a very small plate will probably do) cool off the now salt-free watervapor back into liquid.
- you then pump the freshwater into an area that can be farmed if it were not for the lack of water (and there's PLENTY of that around)
- you also get salt from this installation, and that's useful in all areas where (seasonal) hot weather requires people to consume more salt in their diet.

 

[Tshering22]

Lower petrol prices will be a huge disincentive to renewable energy. This we cannot afford.

The demand far supersedes any such consequences.

Solar energy is coming in big and is seeing one of the fastest rates of investments in the country. Reason? Massive demand for power for industries, especially in line of the new start-ups initiative.

There will come a point when fuel will be used only for transportation and rest all will be either with nuclear and renewable energy.

Considering that Middle East is becoming a war zone like never before, it is important that we continue investing in renewables. We have 1.28 billion people to take care of. Let's not forget that.

 

[H.B.]

The demand far supersedes any such consequences.

Solar energy is coming in big and is seeing one of the fastest rates of investments in the country. Reason? Massive demand for power for industries, especially in line of the new start-ups initiative.

There will come a point when fuel will be used only for transportation and rest all will be either with nuclear and renewable energy.

Considering that Middle East is becoming a war zone like never before, it is important that we continue investing in renewables. We have 1.28 billion people to take care of. Let's not forget that.

Yes demand is there for greater power. But that does not automatically translate into solar dominance. Availability, price, efiiciency all play a part. Solar is still not price competative with oil. It requires huge subsidies to remain competative with oil. Recently, Iran said they can produce crude at 1dollar. Plus, oil reserves are not going away. Arctic, SCS, even ME has large reserves still. So, solar is still long away from being price competative with oil.

Solar panel efficiency is still not upto 50%, I believe. Plus outside tropics, no of sunshine hours for energy generation at such low efficiency is very low. So usable solar has an upper limit and cannot fulfill rising demand unless technology drastically improves. Oil is not going away, not by a long shot.

The only viable option for India is mix of Solar, oil/coal and nuclear with the share of nuclear increasing progressively.