Saturday, 23 June 2012

The Latest from Iran (23 June): All-Is-Well Oil News

0535 GMT: Initially muted in its response to the lack of movement in this week's nuclear talks in Moscow, the regime has settled on the line that --- while the West has been led by Israel into blocking progress --- the discussions must proceed.

That, however, leaves the major problem that the European Union's sanctions will escalate eight days from now, with the cut-off of imports of the Islamic Republic's oil. So Iranian media has to broadcast the message that all will be OK.

Both Fars and Press TV trumpet the news that Japan's Mitsubishi Corporation has renewed its oil contract with Iran. What both decline to add is that Mitsubishi, and other Japanese customers, have cut back the total shipment, ensuring that Tokyo avoids US sanctions.

Fars also headlines, "India Working on Insurance for Iran Oil Imports". The website neglects to mention, however, that some Indian refineries have suspended shipments of Iranian crude, while others have limited their purchases.

Fars then posts, "Iran Resolved to Reach Self-Sufficiency Manufacturing Drilling Rigs", which has absolutely no bearing on the current difficulties for the Islamic Republic, but sounds good: "Through the efforts made by the country's scientific centers and domestic manufacturers, from 2015 onward, the Islamic Republic of Iran not only will achieve the expertise of making onshore drilling rigs but will also be able to export those equipments."

from EA WorldView: EA Iran

Posted via email from lissping