It is all business, may the toughest negotiatior who holds the best cards win.
Iran pushes China to let it sell $1.7 billion worth of stranded oil, sources say (excerpts) Reuters, January 7, 2025 London - Iran is pushing to recoup 25 million barrels of oil from China that has been stuck for six years in Chinese ports due to sanctions imposed by then-U.S. President Donald Trump, three Iranian and one Chinese source familiar with the matter said. The stranded oil is worth $1.75 billion at today's prices. China has been buying about 90% of Tehran's oil exports in recent years at discounts that have saved its refiners billions of dollars. The stranded oil was documented as Iranian oil when Iran's national oil company NIOC delivered it to Chinese ports around October 2018 using waivers granted by Trump. NIOC stored the oil in the ports of Dalian and Zhoushan in east China, where it had been leasing tanks, the sources said. Leasing tanks gave NIOC flexibility to sell oil in China or ship it to other buyers in the region. But in early 2019, Trump scrapped the waivers, and the oil never found buyers or cleared Chinese customs and remained trapped in the tanks. Oil tanks in Dalian are run by PDA Energy, which is asking Iran to pay more than $450 million in storage fees accumulated since 2018. Talks are going on between Iranian officials and the Chinese storage operators on payment of storage fees and other conditions for releasing the oil. www.reuters.com/business/energy/iran-pushes-china-let-it-sell-17-billion-worth-stranded-oil-sources-say-2025-01-08/ -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#34458): https://groups.io/g/marxmail/message/34458 Mute This Topic: https://groups.io/mt/110502379/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: marxmail+ow...@groups.io Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [arch...@mail-archive.com] -=-=-=-=-=-=-=-=-=-=-=-
