US exempts 11 nations from Iran sanctions; China, India exposed

[Bhairava]

As for people grudging about Israel, I would like to know the Pakistani reaction to Bajrang Dal getting hold of some nuclear weapons. The mullahs of Iran are no better.

The only thing is if Israelis/US feel threatened by Iran they need to sort the issue amongst themselves in the old fashioned way..asking other countries to bear their burden is not good.

 

[Devil Soul]

How about the countries who will face US sanction DOUBLE the shipments of Iranian oil from Iran as protest/retaliation... would be really interesting development

 

[Harry Potter]

Pakistan included in list of Iranian oil buying countries that could face US sanctions.
By Reuters
Published: March 22, 2012

12 countries that buy Iranian oil could be subject to US sanctions unless they significantly cut purchases, a US State Department official said on Wednesday.

A US State Department official said on Wednesday that 12 countries that buy Iranian oil could be subject to US sanctions unless they significantly cut purchases. The list includes China, India and Pakistan.

The department released the number of countries – but not their names – on Tuesday after saying the United States would grant exemptions to the sanctions to Japan and 10 European Union nations that have cut shipments of Iranian oil.

Countries that won the exemptions have a six-month reprieve from the threat of being cut off from the US financial system under sanctions designed to pressure Iran over its nuclear program, which the West suspects is intended to produce weapons.

Iran says that its program is solely to generate power.

A government source who is not in the State Department earlier gave Reuters a list of 13 countries that did not get an exemption on Tuesday and could be subject to the sanctions.

That list included Morocco. The State Department official, however, said that its information was that Morocco last bought Iranian crude oil in June 2010 and therefore was not among the 12 that may face the sanctions.

However, he stressed that the assessment of which countries could be subject to the sanctions was a dynamic process and that other countries could be added, or dropped, as additional information becomes available.

The State Department official gave the following list of the 12 countries that remain potentially subject to sanctions. The group includes China and India, the top two importers of Iran’s crude, and South Korea, the fourth-largest buyer.

Pakistan included in list of Iranian oil buying countries that could face US sanctions – The Express Tribune

I am supporting the US in this.
A nuclear Iran is far more dangerous than Oil hitting $200 a barrel.

 

[Harry_Thomason]

@Hary Thomason.
That's not the case India's MRPL has decided to cut oil imports from Iran by 44%,which means India will cut Iran oil imports by 20%+.

Exclusive - India MRPL plans hefty cut in Iran oil imports | Reuters

Also Hillary Clinton said this:

US is our ally.

We'll see about that, West media also reported China is moving away from Iran's oil, and then China doubled oil imports

At this moment, India has doubled imports from Iran too, so we'll see about "the cuts". India wouldnt change its taxes to make imports from Iran easier, nor plan increase from 15 to 25 bln. if they would want to cut as media (dis)informs.

P.S. In case you missed, Iran is India's ally too.

 

[Chinese-Dragon]

Correct, due to tension prices are much higher, so any losses Iran might have are offset by the extra profit. What was surprising to me, Iran has record oil exports now too, so with insanely high prices they are making massive profits. Granted, some of them are barter, but I think Iran-China-India can live with that

Barter is great, I'd rather have tangible things in my hands anyday, rather than an excess of US dollars that are subject to American "stealth tax" via Quantitative Easing.

(It sounds funny now, but it sucks when you think about how many US dollars we are holding).

One thing that interests me, is whether or not we could get an Iranian pipeline connected to our current pipelines in Central Asia. We already have one pipeline running through Kazakhstan, and one pipeline running through Turkmenistan... which is directly on the Iranian border already.

 

[dbc]

nope, China's oil tech is awesome. I am in the energy machinery business.

the weak part of China is sea drilling(though catching up fast), but in Iran's case, no need ocean exploration.

You are mistaken, here is a list of top 10 Oilfield services companies by world wide market share.

1. Schlumberger Limited
2. Halliburton
3. Saipem
4. Transocean Ltd.
5. Baker Hughes
6. Fluor
7. Weatherford International
8. BJ Services Company
9. Petrofac
10. China Oilfield Services Ltd.


The only Chinese firm on that list is China Oilfield Services Ltd, in terms of technology they are several decades behind the leaders.
COS, is known for being a low technology, cost efficient supplier, great for labor intensive activities like seismic surveys and cementing
- not so much for directional drilling or complex recovery. Iranian oil fields are in bad shape thanks to years of sanctions
and mismanagement of their assets. If you believe Chinese firms can fill the void, please prove me wrong.

If Chinese firms are so good, please explain to me why the top 5 companies in my list dominate the market in China, India and Russia?

 

[Bhairava]

A nuclear Iran is far more dangerous than Oil hitting $200 a barrel.

No offence..but tell that to a Kumar or a Mukherjee entering the petrol pump to fill the tank. He will absolutely kick you in the rear...

 

[Chinese-Dragon]

You are mistaken, here is a list of top 10 Oilfield services companies by world wide market share.

They don't need the best in the world, they just need someone who can get the job done.

 

[FairAndUnbiased]

You are mistaken, here is a list of top 10 Oilfield services companies by world wide market share.

1. Schlumberger Limited
2. Halliburton
3. Saipem
4. Transocean Ltd.
5. Baker Hughes
6. Fluor
7. Weatherford International
8. BJ Services Company
9. Petrofac
10. China Oilfield Services Ltd.


The only Chinese firm on that list is China Oilfield Services Ltd, in terms of technology they are several decades behind the leaders.
COS, is known for being a low technology, cost efficient supplier, great for labor intensive activities like seismic surveys and cementing
- not so much for directional drilling or complex recovery. Iranian oil fields are in bad shape thanks to years of sanctions
and mismanagement of their assets. If you believe Chinese firms can fill the void, please prove me wrong.

If Chinese firms are so good, please explain to me why the top 5 companies in my list dominate the market in China, India and Russia?

the multinationals don't dominate the market in China. China's petroleum and petrochemical industry is highly protected and closed.

China Oilfield Services - Wikipedia, the free encyclopedia

COSL claims a 95% share of China's market for offshore drilling services, 70% of the marine support and transportation market, 60 % of the well survey services market and more than 50% of the seismic data collection market.

 

[FairAndUnbiased]

Also, COSL doesn't need the latest tech in oilfield finding - we just need good enough tech, which is still pretty damn advanced. We're not in competition with anyone - our markets are protected and closed.

From what I know, surveying is NOT labor intensive. It doesn't take thousands of people to wire explosives or conduct magnetic/gravitational surveys. It is incredibly capital intensive, in fact, and requires extremely high tech tools in the form of superconducting gravitometers, magnetometers and seismic data processing with supercomputers.

 

[dbc]

the multinationals don't dominate the market in China. China's petroleum and petrochemical industry is highly protected and closed.

China Oilfield Services - Wikipedia, the free encyclopedia

Sure they do, with the exception of leasing rigs, surveys and cementing the bulk of the complex jobs are sub contracted by COSL or its parent CNOOC to Western service providers.

A quote from the 2011 Deutsche Bank report on COSL..

"COSL has an 82% market share for drilling offshore China, a 58% market share for WellServices, 48% of the Marine Support and 80% of the offshore G&G market. Local companies compete in the Marine Support business, while the large multinational companies compete in the more technical Well Services line of business."

 

[Serpentine]

US is afraid that it's closest allies economies is being affected by Iran's oil sanctions.So they are taking it easy on them.But they don't give a $hit if Indian/Chinese economies is affected.It is even good for US to see Its rival economies are having difficulties providing their oil demands.
Just like Russian FM said earlier: US is dictating its internal policies to other nations and making them follow it.It's a new kind of political and economical dictatorship.
I am sure if India and China continue buying oil from Iran,most probably US won't do anything about it,because it's going to hurt its relations with to major economical powers.

 

[somebozo]

well this Pakistan should be exempted too. Who is US to dictate world future and economies?
This is proof that US and EU cronies are all eating from the same basket and this is an indirect way of black mailing iran into lowering his oil prices in exchange of immunity against sanctions. Also this is somewhat a victory for Iran as the ayatollah already said that europe would not survive without IRanian oil. Hmm.

 

[PERSIAN GOD KING]

Lol at these fools man, whatever they do is good for Iran.

we need to stop relying on oil.

well this Pakistan should be exempted too. Who is US to dictate world future and economies?
This is proof that US and EU cronies are all eating from the same basket and this is an indirect way of black mailing iran into lowering his oil prices in exchange of immunity against sanctions. Also this is somewhat a victory for Iran as the ayatollah already said that europe would not survive without IRanian oil. Hmm.

One minute you hate Iran next minute your saying good things?
you have an very alternating attitude...

 

[FairAndUnbiased]

Sure they do, with the exception of leasing rigs, surveys and cementing the bulk of the complex jobs are sub contracted by COSL or its parent CNOOC to Western service providers.

A quote from the 2011 Deutsche Bank report on COSL..

"COSL has an 82% market share for drilling offshore China, a 58% market share for WellServices, 48% of the Marine Support and 80% of the offshore G&G market. Local companies compete in the Marine Support business, while the large multinational companies compete in the more technical Well Services line of business."

You do realize that COSL is owned by CNOOC, which is an offshore company right? It is natural that they do marine support more.

How is well service more technical than geophysical surveying anyone can dig a hole, not anyone can program a supercomputer to analyze geophysical data.