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Showing posts with label this week the plan was prepared to use a large amount of emergency stocks to offset almost all Gulf oil. Show all posts
Showing posts with label this week the plan was prepared to use a large amount of emergency stocks to offset almost all Gulf oil. Show all posts

1/07/2012

A contingency plan to face the closure of "Hormuz"


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Sources said that the Western countries, this week the plan was prepared to use a large amount of emergency stocks to offset almost all Gulf oil, which would lose if Iran closed the Strait of Hormuz, at a time when Tehran Friday announced the organization of new maneuvers near the strait.
Reuters quoted diplomatic sources, and the other in the oil industry emphasize that senior managers in the International Energy Agency, adviser to 28 oil consumer discussed a plan on Thursday to launch up to 14 million barrels per day of oil stocks owned by the governments in the United States, Europe, Japan and the countries of other imported .
If the step has been taken on this scale, it will exceed five times the largest launch of the stocks in the history of the agency, following Iraq's invasion of Kuwait in 1990.
The plan estimated that the maximum amount to be launched - the 10 million barrels per day of crude, and about four million barrels per day of refined products - can continue to be implemented in the first month of concerted effort.
A European diplomat said "This will be necessary and reasonable response to the closure of the Strait, its implementation will take a long time that the need arise."
A spokesman for the agency, the International Energy Agency's emergency plan list showing the maximum amount of oil that can be launched from the stocks, which is 14 million barrels per day for a month and said, "We are monitoring the situation with great interest."
Iranian oilIn a related context, the Associated Press quoted French European sources as saying that the EU looking for an alternative to Iranian oil, and stressed that the ongoing contacts - especially with Saudi Arabia - to monitor the readiness to compensate for the cessation of Iranian oil exports to increase production with the entry ban is in effect.
But the Europeans - who have agreed on the principle of imposing an oil embargo on Iran - especially divided about the appropriate timing, which will enter it into force.
The diplomat summed up the matter by saying that "there is an agreement in principle but the problem lies in the start of implementation", because some states require a longer transition period to terminate current contracts, while the other calls to move fast.
And sells Tehran of 450 thousand barrels of oil per day (18% of its exports) of the EU, especially to Italy (180 thousand barrels per day) and Spain (160 thousand), Greece (100 thousand barrels), the three countries face difficult situations because of the sovereign debt crisis.
New exercisesOn the other hand, announced today the commander of the naval forces of the Revolutionary Guards Rear Admiral Ali Fadavi that his country is preparing to conduct military exercises, new in the Strait of Hormuz, was quoted by Fars news Fadavi as saying that the exercises will be held from January 21 to February 19 next.
He added that the exercises will confirm that Iran is "on the overall control of the Strait of Hormuz, and all movements in this region."
The Admiral said that the seventh group of exercises, "the Apostle larger" will be held in the Persian Gulf and the Strait of Hormuz, will be "very different maneuvers for the previous exercises."
And ended the Iranian Navy maneuvers lasted ten days in the east of this strategy the narrow channel located at the entrance to the Gulf and it crosses about 35% of the world's oil. And launched during the maneuvers anti-ship missiles.
The Iranian military officials threatened to close the strait if imposed new sanctions on Iranian oil exports, by the United States and the European Union to get Iran to abandon its nuclear program.
Are the Revolutionary Guards patrol exercises in and around the Strait of Hormuz, and most recently back to July 2011, the Revolutionary Guard, which was launched a few anti-ship missiles, including missiles of the type of the Gulf of Persia, which has a range of 300 km.


 
Source: Agencies

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