20 December 2012

SINGAPORE / IRAN / IRAQ / OIL : Despite Sanctions...Tehran Fills up Tankers...Sells 'Iraqi Special Blend'.


     The Iranians are clever...and long experienced with sanctions against their oil sales.
     After steep declines...their crude exports are now increasing again.
      Previous attempts to move more crude included extreme discounting and tanker GPS switching.
      Now...new success has come from mixing Iranian oil with Iraqi...and selling perhaps as much as 70,000 tons per day...as the so-called "Iraqi Special blend.'
      Officials in Singapore are suddenly getting very wary about the huge amount of cheap 'bunker fuel' available there...and demanding warranties to protect them from Western sanctions and fines.