Oil firms bet on survival of Syria's Assad

Reuters ^ | Thu Sep 1, 2011 7:52am EDT | Jessica Donati and Dmitry Zhdannikov

[Pan_Yan]

LONDON, Sept 1 (Reuters) - Oil companies in Europe are betting on the survival of President Bashar al-Assad in Syria, in sharp contrast to their support for Libya's opposition six months ago, even while the European Union is expected to soon slap oil sanctions on Damascus.

...

Royal Dutch/Shell (RDSa.L) is expected to load its Neverland Star tanker with crude oil cargo in the port of Banias over the weekend. The tanker was in Alexandria in Egypt on Thursday, just a day away from the Syrian port.

The company operates a joint venture with Syria's state oil company and a Chinese-Indian firm to produce Syrian Light. Traders said the tanker was likely to load oil from Shell's ownership share.

Industry sources say that even if oil exports from Syria are banned by the EU this week , Shell plans to continue operating within the country's borders. It would keep that up until the EU imposes sanctions on cooperation with Syrian firms, which so far appears less likely.

Swiss-based trader Vitol, which played a central role in the war effort in Libya, was due to deliver 70,000 tonnes of gasoil to Banias on Thursday, indicating it has a different game plan in Syria.

And a third tanker, the Altesse, was headed for the Syrian port from Naples and was expected to arrive this week, satellite tracking information showed.

It was not clear whether the 70,000 tonne tanker was due to deliver or load at Banias, but at least two cargoes of gasoline are expected to be delivered to Syria in early September by trading houses Trafigura and Vitol.

[SES1066]

In the games of high finance, there is no room for ethics apparently. When Sadam Hussein had Iraq and the “Oil for Food” UN Program was going on, the bribes flowed just like the oil. This is what Lenin meant when he reportedly said; “The Capitalists will sell us the rope with which we will hang them.” After all, this is just business you know!

[RitchieAprile]

Neverland Star? Is there a MJ connection here?

[KarlInOhio]

When does NATO start bombing the protest rallies in support of Assad and the oil companies?

[Pan_Yan]

When does NATO start bombing the protest rallies in support of Assad and the oil companies?

They don't have to. They'll just quietly disrupt any outside support for the protesters and turn a blind eye to the murders, Syria bringing in thugs from Iran, those thugs beating up the U.S. Ambassador, etc. Syria is not a major player in oil, thus the EU is imposing an embargo. Notice in Libya it was the other way around. Gaddafi threatened to turn off the spigot and the bombs started raining thick and fast.

[SunkenCiv]

Thanks Pan_Yan.

http://online.wsj.com/article/SB10001424053111903895904576546752898536130.html
http://si.wsj.net/public/resources/images/WO-AG918A_SYRIA_D_20110902175702.jpg
http://si.wsj.net/public/resources/images/WO-AG918A_SYRIA_G_20110902175702.jpg

http://www.freerepublic.com/focus/news/2763085/posts
http://www.freerepublic.com/focus/news/2765814/posts
http://www.freerepublic.com/focus/bloggers/2769680/posts
http://www.freerepublic.com/focus/news/2772463/posts
http://www.freerepublic.com/focus/news/2773427/posts