that'll learn-em...
Posted on 01/27/2013 6:12:18 PM PST by Olog-hai
Iran’s oil ministry spokesman says all crude oil and gas exports have been banned to the 27-nation European Union, which has already imposed its own boycott on Iranian energy imports as part of sanctions over Tehran’s nuclear program. …
The semiofficial Mehr news agency quotes Rahbar as saying the Iranian ban will remain as long as “hostile decisions” are made by the EU. …
(Excerpt) Read more at hosted.ap.org ...
How special, Iran says since you won’t let us sell our oil because we are deceitful,warmongering goat lovers who refuse to act in rational manner, WE will not sell our oil to you!
Little known fact: Iran lacks substantial refining capabilities in its own country to make gasoline. They export oil, import gasoline.
Because they can no longer export oil, they won't have financial reserves (cash) to import gasoline.
That's not going to make the masses in Iran happy.
that'll learn-em...
As far as I know, Iran is just posturing because it is in an election. It sells its oil on the open oil market, to which nobody has any authority to decide who gets that oil.
The elections themselves are posturing. The Supreme Leader rules by decree.
Oh I know that, but I was just saying that, when you’re importing oil, there is no way to know whom you are buying from or selling to.
The ban is real and does have effect. The countries are limited in who will buy.
It was always my understanding is that, more or less, countries sold their oil onto the market and countries bought off that market. There really wasn’t an easy way to track where that oil came from.
http://www.freerepublic.com/focus/f-news/1584659/posts
That is not true. Every tanker of oil is tracked. LLoyds of London sells the info for trader information.
Also, each field has some unique measurable properties.
The above are only the most basic. When an Assay of Crude oil is done, the measurements may include:
API gravity
Cetane index
Cloud point
Cold filter plugging point
Density
Flash point
Freeze point
Hydrogen Sulphide %
K factor ( paraffinic, naphthenic, intermediate or aromatic)
Mercaptans
PONA number
Pour point
Ramsbottom Carbon Residue
Reid vapor pressure
SARA (Saturate, Aromatic, Resin and Asphaltene) Smoke point
True vapor pressure
Viscosity
% of heavy metals
Each crude oil type has unique molecular, chemical characteristics. No crude oil type is identical and there are crucial differences in crude oil quality. The results of crude oil assay testing provide extensive detailed hydrocarbon analysis data for refiners, oil traders and producers. Assay data help refineries determine if a crude oil feedstock is compatible for a particular petroleum refinery or if the crude oil could cause yield, quality, production, environmental and other problems.
As an example:
http://www.bp.com/extendedsectiongenericarticle.do?categoryId=9011898&contentId=7022393
Interesting.
Thanks for the info. It’s appreciated.
Fungible does not mean identical.
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