• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 1 day World could get rid of Putin and Russia but nobody is bold enough
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 9 hours Even Shell Agrees with Climate Change!
  • 2 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 12 days Does Toyota Know Something That We Don’t?

Breaking News:

OPEC Lifts Production in February

Iran Avoids Sanctions by Using State-Owned Tanker to Export Oil

The sanctions against Iran, which prevent any institution from trading with the country, mean that maritime insurers in London are unable to cover any tanker that is working with Iranian crude. This means that tankers transporting Iranian oil have been refused insurance, which has drastically affected Iran’s ability to export its product.

To get over this, large buyers such as India and Japan have been able to offer state-backed insurance to ships, however this is not a viable option to all importers of oil from Iran.

To help, Iran has started using its own supertankers to deliver to its customers. According to data acquired by Bloomberg, the very large crude carrier, The Brawny, left the Iranian port of Kharg Island yesterday on its way to South Korea. The tanker will carry around two million barrels of oil to a 395,000 barrel a day refinery operated by Hyundai Oilbank Co. in Daesan.

SK Innovation Co. also took delivery of a shipment from Iran just a few days ago.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News