Iran has nine refineries, located in:
Tehran, Tabriz, Isfahan, Abadan, Kermanshah, Shiraz, Bandar Abbas, Arak and Lavan Island.
Posted on 09/06/2008 2:12:31 AM PDT by TigerLikesRooster
Iran says oil price is right at $100 a barrel
Angela Jameson
Pressure for a cut in oil output at next week's Opec meeting in Vienna stepped up today when Iran’s Opec governor said an oil price of $100 per barrel was “appropriate” in current conditions.
Mohammad Ali Khatibi made his comments as the price of Brent crude fell by $1.77 to $104.30 today while US oil also declined to $106.12. Oil is now trading nearly 30 per cent lower than its peak of $147.27 on July 11.
Mr Khatibi also reiterated Iran’s view that Opec's 13 members, who are responsible for 40 per cent of the world's oil, should cut output to their agreed targets so that oversupply on the market was reduced.
Oil market analysts expect Opec producers to vigorously protect the $100 a barrel price at next week’s meeting against a backdrop of rapidly falling crude prices and the strengthening dollar.
Crude oil prices are now at a five-month low and could yet fall through the $100 a barrel level, first breached at the beginning of this year.
“Continuing worries about the international economic outlook, a firmer US dollar and, possibly, market speculation that Opec may not move production levels following next week’s Opec meeting left oil prices softer,” David Moore, commodity strategist at Commonwealth Bank of Australia, said.
(Excerpt) Read more at business.timesonline.co.uk ...
Just another opportunity for me. I'm cleaning up!
http://finance.google.com/finance?q=AMEX:DUG
I'm thinking of bailing soon on DUG though. My next big risk is betting on the USD recovery. I think it's coming quick.
Why isn’t this news in the US? (rhetorical)
barrel of oil declining
dollar strengthening
bad for national socialism
Every time oil has gone up over the last few years, OPECers would make a show of saying something about a mythical “target price” or that the new price was unsustainable.
That price was pretty much always less than the currently trading price.
Well, now that oil is falling in price... they are trying to shore up that value before it collapses.
My question - at what price does oil have to remain to keep it attractive for US drilling and pumping? I do know there is a price point that makes it not “worth” tapping US sources (at least according to the oil industry).
“The game is to use energy to promote socialism/Marxism and it almost worked.”
I agree. Strangle energy bills. Build no new infrastructure for years. Maybe cause certain financial transactions with a butterfly effect to inflict declining profits and job losses. The Dow drop on the day of McCain’s speech with the uptick in unemployment.
The dem and their minions wouldn’t orchestrate that, would they? /s
Fallacious reasoning (post hoc ergo propter hoc). Just because something happened after an event does not mean that the event caused that something to occur.
Straw man. Rather than attacking the statement, you are creating a different statement and attacking it. It is reasonable for the speaker to assert that the timing of the price falling is "odd." No more was claimed until you asserted he had claimed causality.
I've understood that oil shale and tar sands are profitable at $70/bbl, so it stands to reason that drilling and pumping more "accessible" oil would work at that price or somewhat lower.
>> These were the morons saying oil was going to $200 bbl.
Hey, there were plenty of oil-spekulating morons right here on FR promising $200 oil!
(We won’t even mention the losers touting $2000 gold...)
They will do anything and sometimes going to far will sink their leaky ship.
Oil shale and oil (tar) sands have been in production for decades, just not in this country. They all do not require $70/bbl.
Valero is not building a new refinery in Texas or anywhere else in the US at this time.
Going back to the post to which I replied, the reply was US specific. If there’s any strategic thinking going on, whatsoever, in this country, we’ll put a floor under oil prices to prevent the destruction of new resource development, domestically. And, as best I can tell, that floor is $70/bbl.
Your right, they were just expanding the New Orleans one. I thought I had read that they were in the process of building a new one.
How the hell can this clown set the price of a dollar? If the rest of the world goes up in flames, the dollar gets real expensive. What he’s saying is he will work to stop us from getting strong economically. That’s the only way he can keep the dollar weak. That’s really provocative.
Iran has nine refineries, located in:
Tehran, Tabriz, Isfahan, Abadan, Kermanshah, Shiraz, Bandar Abbas, Arak and Lavan Island.
And expanding Port Arthur, while selling off smaller refineries.
Drill NOW! Keep our jobs and money at home!!
All of Iran's oil streams are either light or intermediate. They are all sour.
http://www.evaluateenergy.com/Profiler/Petroguide/middleeastcrude.htm
Isn’t there a new one, about to come online, in the Dakotas?
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