Friday, 24 May, 2019


Iran draws sting from oil prices

Iran draws sting from oil prices Iran draws sting from oil prices
Conrad Doyle | 09 November, 2018, 07:56

Preventing oil prices from rising any further has been a relentless rise in United States crude output, which hit a record 11.6 million bpd in the week ending November 2, according to Energy Information Administration (EIA) data released on Wednesday.

The sanctions exception granted to the Chabahar project aims to further USA ties with Afghanistan and India "as we execute a policy of maximum pressure to change the Iranian regime's destabilizing policies in the region and beyond", the State Department spokesman said.

The US has warned ports and insurance companies to avoid dealing with Iranian ships, as new sanctions are slapped on Tehran by Washington.

"The US will be granting these exemptions to China, India, Italy, Greece, Japan, South Korea, Taiwan, and Turkey".

"The president's South Asia strategy underscores our ongoing support of Afghanistan's economic growth and development as well as our close partnership with India", the State Department spokesperson also reportedly said.

India has seen Chabahar as a key way both to send supplies to Afghanistan and to step up trade with Central Asia as well as Africa.

Iran late a year ago inaugurated the port on the Indian Ocean, which is being built largely by India and is expected to provide a key supply route for Afghanistan while allowing India to bypass rival Pakistan to trade with Central Asia and Africa. The port project is simply too critical for India and can benefit Afghanistan immensely. The port stands in contrast to China's own port project in Gwadar, Pakistan.

Imports rose 8.1 percent for the first 10 months of the year from the same period last year to 377.16 million tonnes, or 9.06 million bpd, on track for another record year of shipments.

Zahedan is also in Iran but closer to the Afghanistan border.

The exemption for Chabahar comes as good news for India and Afghanistan, but undercuts the Trump administration's portrayal of the sanctions as the "toughest ever". "There's a handful of places were countries that have - that have already made significant reductions in their crude oil exports need a little bit more time to get to zero, and we're going to provide that to them".

While Pompeo said more than 20 importing nations have already zeroed out their imports of Iranian crude, he warned the USA will continue negotiations to get all of the nations to zero.

"The Iranian regime has a choice".

With this exception, however, business as usual will continue for now at Chabahar.

Commenting on this data, "Once again, the US has shown that when it is economic to do so, it can increase production at a greater pace than Saudi Arabia".

The two countries have been trading oil and other products, by paying and receiving Korean won through the Iranian central bank's accounts at two South Korean banks.

Recommended

loading...
...

Thugs Of Hindostan Review: Aamir Khan's Film Disappoints Big Time Thugs Of Hindostan Review: Aamir Khan's Film Disappoints Big Time Big, bloated, bombastic, Thugs of Hindostan is a period saga that banks exclusively upon action and spectacle for impact. It also released on 2,000 screens overseas, which again would add to the profit of the producers .

Boeing issues advice over sensors after Indonesia crash Boeing issues advice over sensors after Indonesia crash Tempo.co quoted Danang as saying: "Lion Air apologises to all passengers for the inconvenience caused by the incident". An Indonesian official said the plane and pilots have been grounded while the crash is investigated.

Loss of US House leaves Republicans more tied to Trump than ever Loss of US House leaves Republicans more tied to Trump than ever The writing may have been on the wall in September, when Democrats unexpectedly lost a state Senate seat in San Antonio. She said House Democrats would be a check on Mr Trump , and added: "The American people want peace, they want results".

White House suspends credentials for CNN's Jim Acosta White House suspends credentials for CNN's Jim Acosta The White House has never threatened to revoke his access because of his style. "Other presidents did not fear tough questioning". Acosta has served as a White House correspondent for CNN since 2013 when he covered the Obama administration.

Dallas Cowboys: 3 Big takeaways from loss vs Dallas Cowboys: 3 Big takeaways from loss vs There was a missed field goal before Cooper's TD, and Prescott's interception after that in their first home loss this season. The Titans running game is atrocious and will struggle to get going against the Cowboys top-tier run-stopping defensive unit.

Tamera Mowry-Housley's Niece Is One of the Borderline Bar Shooting Victims Tamera Mowry-Housley's Niece Is One of the Borderline Bar Shooting Victims Adam has since taken to Twitter to ask his followers for prayers for his niece, who he described as "a attractive soul". Just last month, Mowry-Housley gushed over her niece and how much she had grown as a person.

Facebook Messenger is finally going to introduce a lifesaving 'unsend' feature Facebook Messenger is finally going to introduce a lifesaving 'unsend' feature As is the case with WhatsApp, time limits will be involved, meaning you won't be able to remove any of the things you said in past chats.

Man dies after being attacked by shark in Whitsundays Man dies after being attacked by shark in Whitsundays Prof O'Connell said Dr Christidis showed "amazing patient care" on one occasion getting an upset patient a cake on her birthday. A 12-year-old girl, Hannah Papps, was attacked in the same harbour while swimming from a yacht the next day, losing a leg.

'Multiple injuries' in California bar shooting: Fire department 'Multiple injuries' in California bar shooting: Fire department Ventura County Sherriff Geoff Dean described the scene inside the bar as "horrific" and said there was "blood everywhere". At least 12 people have been killed, including a police officer, at a country music bar in Thousand Oaks, California.

Le'Veon Bell hasn't talked to Steelers, unlikely to report this week Le'Veon Bell hasn't talked to Steelers, unlikely to report this week Just about everybody has an opinion on my life & anxious about what I'm doing. & that's clearly on them ... If he plays games this year, the Steelers could try to prove Bell's transition tag should be prorated.

3 reasons why Manchester United beat Juventus in Turin 3 reasons why Manchester United beat Juventus in Turin The Portuguese superstar immediately ran to the corner flag, lifted up his shirt and pointed at his impressive stomach muscles. Manchester United manager Jose Mourinho taunts the Turin crowd after defeating Juventus 2-1 in the Champions League .

Giggs backs Rooney playing England friendly as chance to recognise ‘icon’ Giggs backs Rooney playing England friendly as chance to recognise ‘icon’ The 33-year-old, who now plays for DC United in Major League Soccer, has not represented the Three Lions in nearly two years. Wilson, who has scored six Premier League goals so far this season, is rewarded with a maiden call-up to the senior ranks.

Here are the candidates who made history in the 2018 midterms Here are the candidates who made history in the 2018 midterms Twenty-nine-year-old Democratic Socialist Alexandria Ocasio-Cortez has become the youngest woman ever elected to Congress . Idaho gubernatorial candidate Paulette Jordan also lost her race to become the country's first Native American governor.

Supreme Court refuses anti-net neutrality appeals Supreme Court refuses anti-net neutrality appeals Today, the United States Supreme Court rejected an appeal from the telecommunications industry seeking to vacate the D.C. But the justices refused to hear the appeals, leaving the lower court ruling in place.

Google will issue an update to fix Pixel 3 memory management issues Google will issue an update to fix Pixel 3 memory management issues In a statement that Google sent to 9to5Google this week, there will be a fix coming soon, within the next few weeks. Credit: YouTubeOn the Pixel 3, the Google Assistant can now answer phone calls on your behalf.