Ban on Iranian Oil imports

[anotheoldgit]

http://www.independen...-imports-6293349.html

Is this a wise move or are we shooting ourselves in the foot?

/// In advance of the decision, negotiators worked hard to try to ensure that the embargo would punish only Iran — and not EU member Greece, which is in dire financial trouble and relies heavily on low-priced Iranian oil. ///

Do we not also rely heavily on low-priced Iranian oil, and will this not put up the price of our fuel?

/// They agreed in principle to make up the costs Greece incurs as a result of the embargo. ///

That is big of them, will that further increase our costs also?

[Gromit]

Eddie51

Qatar is mainly a LNG exporting nation. From Wiki

// large natural gas reserves have been located off Qatar's northeast coast. Qatar's proved reserves of gas are the third-largest in the world, exceeding 250 trillion cubic feet (7000 km³). The economy was boosted in 1991 by completion of the $1.5-billion Phase I of North Field gas development. In 1996, the Qatargas project began exporting liquefied natural gas (LNG) to Japan. Further phases of North Field gas development costing billions of dollars are in various stages of planning and development. //

[Gromit]

D9f1c7,

I would not be so sure than Iran could not disrupt oil tanker traffic. They have layed mines before, crude devices from small . At night they are impossible to spot. A Japanese tanker hit what is thought to be a legacy mine in 2010, causing structural damage.

http://thegulfblog.co...ormuz-the-contenders/

[DTCwordfan]

well watch the UK now (not international this one)

R4 announced that the Coryton refinery has closed, bankruptcy of the Swiss owners - which if I remember have Libyan shareholding......I will check that

[DTCwordfan]

Ok it is Petroplus, not Tamoil as I suspected, originally Dutch.....

a lot of their refineries are ex Shell simple refineries (Switzerland and Reichstett for example)

[anotheoldgit]

http://www.dailymail....refinery-closure.html

It could get even worse.

[youngmafbog]

The sooner we stop using oil and stick the Arabs back in their tents the better.

I oil goes up enough then other technology becomes worthwhile (Unfortunately so does getting oil from more expensive resources, but it probaly not quickly enough)

Every cloud etc ....

[EDDIE51]

They only need to sneak out in a small boat at night even a rubber dinghy , undetectable on radar , and drop a few over the side . Or drop then from a small plane , once they are down even the US 6th fleet is going to have a job finding them. A lot of these mines have very few metal parts and float just below the surface very close to undetectable. Belive me they can do it ! and nothing will stop them. They may well have a few shore based Exocets as well the French sold them to anyone ! Try stopping one of those , remember the Falklands ?

[eastern]

How do you think the LNG gets to the UK at Millford Haven, yep by ship. As for the UAE having reserves for it's own use and consumption is rubbish, they are the 5th largest producer in the world and Oman has more reserves than the UK and Qatar has more than Norway. The problem they all have is getting it from A to B. If you want to check your facts first then:- http://www.nationmast...s-energy-oil-reserves