The world’s largest oil traders have quietly stopped supplying petrol to Iran in a clear sign that the threat of sanctions and Washington’s behind-the-scenes efforts to convince companies not to sell to Tehran are paying off.
However,
the decision by Vitol, Glencore and Trafigura is unlikely to cut Tehran
off completely from the global petrol market as traders said Iran’s
long-standing suppliers were being replaced by small Dubai-based and
Chinese companies.
Energy executives said Vitol, Glencore and Trafigura, which have
hitherto sold Iran half of its petrol imports of 130,000 barrels a day,
stopped supplying Tehran because of mounting political risk. “The
political and public relations problems more than outweigh the business
rewards,” said one executive.
Read more here -- http://www.ft.com/cms/s/0/fd894e56-2a1e-11df-b940-00144feabdc0.html
Plus --
President Hugo Chavez announced at the end of a visit to Iran on Sunday
that Venezuela will export 20,000 barrels of petrol per day to the
Islamic republic. Oil-rich Iran imports some 40 percent of its petrol
because it lacks refining capacity.
AFP - Venezuela is to supply fuel-starved Iran with 20,000
barrels of petrol a day, President Hugo Chavez said on Sunday at the
end of a two-day visit to the Islamic republic during which deals were
also inked on medicine and commerce.
"Venezuela has agreed to export 20,000 barrels of petrol daily to
Iran from October in a deal worth 800 millon dollars," Chavez told
reporters in the northeastern city of Mashhad, local media reported.
He gave no indication of the duration of the agreement.
