• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 6 hours NordStream2
  • 1 day Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 3 hours US intel warns China could dominate advanced technologies By NOMAAN MERCHANT October 22, 2021
  • 1 day Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 3 days Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 3 days Storage of gas cylinders
  • 3 days "The Hidden Story About California's Container Ship Backlog" via Corbett Report
Venezuela’s Crumbling Oil Industry Is An Environmental Time Bomb

Venezuela’s Crumbling Oil Industry Is An Environmental Time Bomb

The collapse of Venezuela’s once-mighty…

US Sells Seized Iranian Fuel As It Looks To Detain Another Oil Tanker

The United States has completed the sale of 1.116 million barrels of gasoline that Iran tried to ship to Venezuela last year, U.S. Department of Justice spokesman Marc Raimondi told Reuters, while the Administration is looking to detain another tanker it believes is part of an Iranian scheme to covertly ship Iranian oil to a foreign customer.

In August last year, the U.S. Administration said it had seized the fuel cargo of four vessels, alleging that the fuel came from Iran and was going to Venezuela.

The U.S. Department of Justice announced at the time “the successful disruption of a multimillion-dollar fuel shipment by the Islamic Revolutionary Guard Corps (IRGC), a designated foreign terrorist organization, that was bound for Venezuela. These actions represent the government's largest-ever seizure of fuel shipments from Iran.”

The 1.116 million barrels of petroleum on the four tankers were seized and sent in U.S. custody.

“The petroleum has been seized, and an interlocutory sale has preserved the cash value of the petroleum, which is now held by the U.S. Marshals Service,” Raimondi told Reuters this week, adding that the proceeds from the sale – which haven’t been disclosed but are likely tens of millions of U.S. dollars – “will be transferred to the U.S. Victims of State Sponsored Terrorism Fund.”

While the sale of the Iranian fuel was completed, the Department of Justice said last week that the United States had filed a forfeiture complaint in the U.S. District Court for the District of Columbia, looking to detain the oil aboard a tanker traveling to the United States.

The Department of Justice alleges that the IRGC has created a scheme to covertly ship Iranian oil to a customer outside Iran. The supertanker, the Achilleas, is carrying 2 million barrels of what the United States believes is Iranian crude oil, and was in the Caribbean Sea on Wednesday, headed to the U.S. Gulf Coast.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From 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