• 3 minutes In a Nutshell...
  • 5 minutes CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 7 minutes Australian renewables zone attracts 27 GW of solar, wind, battery proposals
  • 9 minutes Why Oil could hit $100
  • 14 mins COVID is real now
  • 1 hour The Quad naval alliance forming.
  • 2 hours The Grey Lady has fallen (further into irrelevancy)
  • 10 hours Is The Three Gorges Dam on the Brink of Collapse?
  • 1 day Where is Alberta, Canada headed?
  • 2 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 3 hours The Boris Yeltsin of America
  • 2 days Why Putin is popular in Russia
  • 14 hours Is the oil & gas industry on the way out?
  • 1 day Joe Biden offers advice to correct the public health
  • 1 day There Has Been No Trump Manufacturing Boom Even Before Covid
  • 2 days Fauci: "USA will soon have 100K new cases per day". Trump re(p)-lies: "The problem has been fixed"
Why The Hydrogen Boom Is Good News For Natural Gas

Why The Hydrogen Boom Is Good News For Natural Gas

The EU’s ambitious hydrogen targets…

US Tells Hong Kong To Lookout for An Oil Tanker Carrying Iranian Oil

The United States has urged Hong Kong to be on the lookout for an oil tanker carrying Iranian oil presumably that may be on its way to China, in violation of US sanctions against the Middle Eastern country, according to Reuters.

China has historically been Iran’s largest crude oil customer, although China has significantly increased its crude oil purchases from Saudi Arabia since the onset of US sanctions.

The oil tanker, known as the Pacific Bravo (formerly Silver Glory), was originally headed to Indonesia, Refinitive Eikon data showed, according to Reuters, but changed course on Monday to head toward Sri Lanka.

The Pacific Bravo flies under the Liberian flag, but a senior US official claims the oil tanker is owned by China’s Bank of Kunlun, which is the official handler of money between China and Iran. Bank of Kunlun is owned by CNPC’s financial arm, CNPC capital.

“Anyone who does business with this ship, the Pacific Bravo, would be exposing themselves to U.S. sanctions,” the senior official said, adding that the US will “enforce our Iran sanctions quite aggressively and quite consistently.”

The news comes as Indian news outlet ThePrint reported on Tuesday that India would ultimately resume purchases of Iranian crude oil despite the sanctions. India is Iran’s second-largest crude oil purchaser.

While India and China may be bold enough to thumb their noses at US sanctions on Iran’s crude oil, they may have difficulty finding willing insurers and shipping companies to do the same.

Iran has been consistently adamant that the United States would be unable to drive its oil exports to zero, and has engaged in covert shipments of oil and fuel, including forging documents to subvert the United States’ plan to restrict its oil exports.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News