Saturday, 8 December 2012

The Latest from Iran (8 December): Tehran to Hit New Low in Oil Exports?

0705 GMT: The Battle Within. Javan Online, linked to the Revolutonary Guards, warns that President Ahmadinejad’s right-hand man, Esfandiar Rahim Mashai, has begun his campaign in the 2013 Presidential election.

Javan points to several Facebook pages, including “The Campaign to invite Engineer Mashai for the Presidential Election”: “Sounds indicate that the electoral team of Mashai have the aim of entering the propaganda arena of the 2013Presidential election by concentrating on social networks, and for realising this goal they have begun their programme with online social networks like Facebook.”

0650 GMT: For the second day in a row, we begin with an evaluation of Iran's problems with oil exports. 

An industry source said Friday that the state of contracts and shipping indicated Tehran would sell 824,000 barrels per day in December. The figure dashes the prospect of recovery after Iran's exports bounced back 30% in October to reach 1.3 million barrels per day. Indeed, the anticipated December level would be a new low, breaking the floor of 860,000 bpd in the summer. 

Last year, Iran's exports were 2.2 million bpd.

The US gave a notable sign that it is happy with the squeeze on the Islamic Republic, as it renewed sanctions waivers for nine countries still taking Iranian oil. Washington decided that China --- Tehran's leading customer --- Turkey, South Korea, Singapore, Malaysia, South Africa, Taiwan, and Sri Lanka had all reduced purchases enough to earn another six-month exemption from financial penalties.

Even India ----whose oil imports in October were slightly higher than a year ago, was granted an extension on the ground that its overall purchases in 2012 have fallen, especally between April and September.

 

from EA WorldView: EA Iran

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