Page 6 - MEOG Week 06

MEOG PIPeLInes & transPort MEOG
Iran exporting 1mn bpd tracking firm data indicates
Iran
NEWLy compiled data suggests that Iran is presently managing to export a million barrels of oil a day despite the US’s effort to drive Iranian crude off world markets, according to Tanker- trackers.com, a satellite-technology oil tanker tracking firm.
The company, which monitors the move- ments of oil and gas tankers on the high seas, said the activity of Iranian tankers during Jan- uary indicated exports of 31mn barrels, or 1mn b/d. reuters in mid-January, citing refinitiv data, assessed that Iran’s crude and condensates exports were lately down to 400,000 b/d, com- pared to a May 2018 peak of 2.8mn b/d.
Samir Madani, co-founder of TankerTrack- ers.com told bne IntelliNews that the Iranians and foreign companies were exporting Iranian crude to destinations including the East Asia and Mediterranean Sea regions.
“A strong rebound of Iran’s crude oil exports took place during January, doubling up to one million barrels per day. A large portion of ves- sels were foreign, which have been greatly under-represented since the sanction waivers [previously awarded to a handful of importers of Iranian oil by the US] expired last April.
Between 7-10% of this oil will reach Syria over the coming days and weeks via the Suez Canal while the rest heads to the Far East and to oil traders closer to home.”
no desire to blockade hormuz
“All in all, these numbers confirm our origi- nal analysis that Iran has absolutely no desire to impose a blockade on the Strait of Hormuz because it relies on it just as much as its biggest [oil] client [China] does,” Madani added.
Around 30% of exports of all oil and oil liquids pass through the Hormuz chokepoint running by the Iranian coast and analysts reg- ularly assess whether Iran might be tempted to blockade it as a tactic in its standoff with the US over whether the Islamic republic should sign a revised agreement with major powers to curtail its role in Middle East affairs.
China, meanwhile, has as part of its first- phase trade deal with the US agreed to greatly increase its imports of American energy ship- ments. Iran may be worried that Beijing’s current surge in buying Iranian oil may be a precursor to it winding down purchases in the coming months under US pressure.
The Chinese purchasing pattern follows that of other countries that eventually discontinued imports of Iranian oil.
Iran has lately been stepping up its lobby- ing of India to stick with Iranian oil despite the US sanctions threat. India was typically talked about as the second biggest importer of Iranian oil prior to the Trump administration’s move to try and reduce exports of Iran’s crude to zero.™
Naturelgaz to buy SOCAR‘s Turkish LNG unit
turkey
NATUrELGAz has signed an agreement to purchase 100% of SOCAr Turkey LNG, Global yatirim Holding announced on February 6.
After the share transfer, Naturelgaz and Azerbaijani state-controlled company SOCAr Turkey LNG will be merged under Naturelgaz, Global yatirim Holding, parent company to the enterprise set to be acquired, said in a filing with Borsa Istanbul.
Naturelgaz, a 95.5%-owned subsidiary of Global Holdings, is one of the leading CNG (compressed natural gas) suppliers and distrib- utors in Turkey and Europe.
The acquisition will further strengthen the position of Naturelgaz in the LNG, bulk CNG,
and auto-CNG businesses, increasing volume and geographical coverage while diversifying the product portfolio, Global said.
Currently, the infrastructure of Naturelgaz consists of 10 bulk CNG plants, three auto-CNG stations, 296 CNG road tankers and 47 industri- al-scale compressors.
“Post-acquisition the infrastructure will enlarge to 12 bulk CNG plants, 11 auto-CNG stations, 345 CNG road tankers and 67 CNG compressors, with expansion coming from new regions,” Global added. In 2019, Naturelgaz dis- tributed 167mn Sm3 of CNG, while SOCAr Turkey LNG distributed 35.4mn Sm3 of CNG and LNG, according to Global.™
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w w w . N E W S B A S E . c o m Week 06 12•February•2020