Iran's Oil Exports Fall in April

Posted by Eric Haun
Tuesday, April 29, 2014

Iran's oil exports fell in April for a second month, according to sources who track tanker movements, moving closer to levels allowed by November's interim deal on curbing Tehran's nuclear program.

The decline may reflect seasonally lower crude oil demand and U.S. pressure on some customers take less. Signs of higher Iranian sales since late 2013 have led to concern in Washington that a softening of sanctions has given Tehran's economy a boost.

"It looks like India has imported less in April - that could be due to a combination of more pressure from the United States and also lower crude demand at this time of year by Indian buyers," a tanker-tracking source said.

Iran's crude exports have averaged 1.1 million barrels per day (bpd) in April, said one of the sources, down from almost 1.3 million bpd in March. That would bring exports back down to the average 2013 level of Iranian imports.

Under an interim deal signed in November between Iran and six world powers - known as the Joint Plan of Action (JPOA) - that came into effect on Jan. 20, Iran's exports are supposed to be held to an average 1 million bpd through July 20.

Tim Wilson, of U.S. based think tank Foundation for Defense of Democracies (FDD) which backs tougher measures, said exports are still on course to exceed that level over the six-month period because of sharply higher sales in earlier months.

"Under that plan Iran was expected to maintain crude oil exports at the same levels as during 2013 with the State Department monitoring the aggregate over time," said Wilson.

"The State Department should now be having considerable concerns."

The Obama administration believes that Iran's oil sales will fall in coming months and average 1 million bpd over the entire six-month period.

Wilson of the FDD said, "In order to remain within the expected oil export figures, Iran will need to reduce their exports by almost 80 percent for the remainder of the JPOA period."

Besides seasonally lower demand, exports are also down as Iran has sent less crude to its ally Syria - one of the countries Washington does not sanction for taking Iranian oil - the tanker tracking source said.

A second tanker-tracking source said Iran's crude exports in April have shown a downward trend to below 1.2 million bpd from March's rate of 1.3 million bpd.

The sailings in April appear to be higher than those indicated by ship loading data seen by Reuters on April 17, which pointed towards crude exports of just 950,000 bpd.

The November deal, say industry sources, improved sentiment around buying Iranian oil by reducing political risk. The rising trend in exports since then alarmed backers of tough sanctions, who said Iran looked to be getting more relief than Washington had said it would under the agreement.

There is no generally accepted figure for the oil exports of many producers, including Iran. Information takes time to filter out from opaque oil and shipping markets, and consumer countries detail imports with a time lag or not at all.

The West's oil watchdog, the International Energy Agency, provides closely watched Iranian export figures and said global crude imports from Iran reached 1.65 million bpd in February, the highest since June 2012.

So far, the IEA has only published a preliminary March exports estimate of 1.05 million bpd, which it says will probably be revised up.

(Reporting by Jonathan Saul and Alex Lawler; Editing by Veronica Brown and William Hardy)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Port of LA’s January Volumes Up 33%

704,398 TEUs leads Los Angeles to busiest January in port history    The Port of Los Angeles handled 704,398 Twenty-Foot Equivalent Units (TEUs) in January 2016,

First ‘Reachstacker’ Starts Duty in the Port of Ravenna

Liebherr Maritime Cranes delivered a LRS 545, the first model out of the new reachstacker series, to the Italian Port of Ravenna.   The Port of Ravenna is one

Innovative Equipment Will Help Unload Listing Ship

Following Smit Salvage’s salvage of the stricken ship Modern Express in the Gulf of Biscay, another Rotterdam company has now become involved in the rescue operations.

News

Port of LA’s January Volumes Up 33%

704,398 TEUs leads Los Angeles to busiest January in port history    The Port of Los Angeles handled 704,398 Twenty-Foot Equivalent Units (TEUs) in January 2016,

42 People Rescued after Abandoning Ship off Hawaii

Forty-two people are safe after abandoning ship approximately 1,800 miles south of the Hawaiian Islands, Thursday, the U.S. Coast Guard reported.   Crewmembers

Yacht Club Takes Delivery of New Dredger

Rose City Yacht Club, a long-standing private marina and social club along the Columbia River in Portland, Ore., recently took delivery and startup of a new 8-inch Badger Class dredge from Reserve,

Government Update

NATO Sea Mission Launched against Migrant Traffickers

NATO ships are on their way to the Aegean Sea to help Turkey and Greece crack down on criminal networks smuggling refugees into Europe, the alliance's top commander said on Thursday.

Vessel Discharge Amendment Push Continues

AWO voices strong opposition to McCain anti-Jones Act amendment   The American Waterways Operators (AWO) is continuing an intensive lobbying campaign to bring

NATO Launches Sea Mission Against People-Smugglers

NATO, EU mission to help target traffickers in Aegean Sea. NATO ships are on their way to the Aegean Sea to help Turkey and Greece crack down on criminal networks smuggling refugees into Europe,

Logistics

Port of LA’s January Volumes Up 33%

704,398 TEUs leads Los Angeles to busiest January in port history    The Port of Los Angeles handled 704,398 Twenty-Foot Equivalent Units (TEUs) in January 2016,

First ‘Reachstacker’ Starts Duty in the Port of Ravenna

Liebherr Maritime Cranes delivered a LRS 545, the first model out of the new reachstacker series, to the Italian Port of Ravenna.   The Port of Ravenna is one

Chemical Shipping Freight Rates to Remain Under Pressure

On the back of low bunker prices and more new buildings to be delivered in 2016, chemical shipping freight rates for both contracts of affreightment and spot cargoes

Middle East

OSV Delivered to MC2 in Dubai

Marine Core & Charter LLC (MC2) headquartered in Dubai has taken delivery of the new build PETRA-1, the first of two, 45-meter Fast Offshore Support Vessels in

Canada Says Lifting Some Sanctions Against Iran

The Canadian government said on Friday it was lifting some sanctions against Iran, including the broad ban on financial services, imports and exports, making Canadian

Cepsa Resumes Iranian Oil Supplies to Spain

Spanish refiner Cepsa will ship a 1-million barrel cargo of Iranian oil to its refineries, according to vessel agents' data and market players' information on Wednesday.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1011 sec (10 req/sec)