Tag Archive for "Iran" - Arabianomics

Posts Tagged ‘Iran’

EIU Verifies Saudi Claim About Replacing Iranian Oil Exports

January 26th, 2012 by Lucien Zeigler

The Economist Intelligence Unit said that Saudi Arabia could replace a large share of Iranian exports when embargos against crude from the Islamic Republic take effect, according to this report in BusinessWeek.

BW:

“Saudi Arabia pumps about 9.8 million barrels a day, including oil from the partitioned zone the kingdom shares with Kuwait, and it still has 2.5 million barrels a day of spare capacity, said Robert Powell, a senior economist at the London- based research company. That’s about the same amount that Iran exports, he said today in an e-mailed response to questions.”

EU Will Sanction Iran’s Oil

January 21st, 2012 by Lucien Zeigler

Iran’s oil and other precious metals will be sanctioned by the EU on Monday, according to reports.

CNN Money’s Steve Hargreaves reports that the sanctions “will ban the import of Iranian oil and also restrict Iran’s trade in gold and precious metals, as well as freeze certain Iranian financial assets.”

[CNN Money]

Join the Forum discussion on this post

Iran to Saudi: Don’t Put Us Out of Oil Business

January 19th, 2012 by Lucien Zeigler

Iran has warned Saudi Arabia not to deliver additional oil to the market in the wake of sanctions against Iran’s oil industry, according to reports.

The comments, though indirect, “marked the first verbal sparring” between Iran and Saudi Arabia over the issue, according to the Wall Street Journal, and amount to a admittance by the Iranians that Saudi Arabia is capable of taking over Iran’s share of the market in the event that the EU implements sanctions against the Islamic Republic.

[WSJ]

Wen Jiabao to Visit Saudi, Discuss Energy, Iran

January 13th, 2012 by Lucien Zeigler

China’s Wen Jiabao will visit Saudi Arabia and other Gulf states at a delicate time as relations between the West and Iran sour but China looks to continue to receive Iranian oil.

According to this Bloomberg report:

“The Chinese premier’s trip starting tomorrow comes amid signs that tighter economic sanctions may stop Iran, OPEC’s second-largest producer after Saudi Arabia, from selling its oil. Wen will also visit Qatar and the United Arab Emirates, fellow members of the Organization of Petroleum Exporting Countries, during the Persian Gulf tour ending Jan. 19.”

The visit itself is an important gesture to the region. China’s impressive growth in recent years has led the people’s republic demand for oil to skyrocket.

Oil Soars with Iranian Bluster

January 3rd, 2012 by LucienZ85

Oil prices have spiked 4% after an Iranian Major General threatened a US Aircraft Carrier in the Persian Gulf, according to media reports.

Iran has stepped up its bluster after Western powers threatened to impose sanctions that would cripple Iran’s oil industry, the backbone of Iran’s economy. Iran responded that it would close the Strait of Hormuz, a vital shipping lane. Since then, tensions have been high, and have brought oil prices up with them.

[Discuss this on the Arabianomics.com Forum]

US Slings $3.5 Billion in Missiles to UAE as Part of Defense Shield

January 1st, 2012 by Lucien Zeigler

Reuters reports that the US has sold the UAE a $3.5 billion advanced antimissile interception system as part of a military build up to counter the increasingly hostile rhetoric from the nearby Islamic Republic of Iran.

Tensions are running high in the area, with Iran recently threatening to close the Strait of Hormuz in response to Western sanctions against Iran.

Reuters: “The deal, signed on December 25 and announced on Friday night by the U.S. Defense Department, “is an important step in improving the region’s security through a regional missile defense architecture,” Pentagon press secretary George Little said in a statement.”

US to Sell $30 Billion Worth of F-15 Fighter Jets to Saudi Arabia

December 29th, 2011 by George Foulard

Via The New York Times: On Thursday, the Obama administration announced a deal to sell F-15 fighter jets to Saudi Arabia for use by the Royal Saudi Air Force.

The deal, valued at $30 billion is part of a larger $60 billion arms package approved by the US Congress in 2010.

Worth noting is the fact that officials announced the finalization of the deal in the wake of Iranian naval maneuvers and threats that the Straits of Hormuz would be closed if the United States moved ahead with stringent sanctions on Iranian oil exports.

Rare Talks Held Between Iran Intelligence Chief and Saudis

December 13th, 2011 by Lucien Zeigler

Iran’s intelligence head visited Riyadh for rare talks with the Saudi government, the WSJ reports. Among the reasons for meeting was to “clear some misunderstandings,” the article noted. [WSJ]

The meeting is a rare one for the cold Saudi-Iranian relationship. Bilateral talks, at least that the public knows about, are rarely held between Saudi Arabia and Iran, so the fact that the meeting was reported by mainstream media outlets is significant in itself.

Join the Forum discussion on this post

Former Saudi Spy Chief Warns of Potential for Kingdom’s Pursuit of Nuclear Weapons

December 5th, 2011 by George Foulard

Via AFP: According to Prince Turki al-Faisal, Saudi Arabia may consider developing or acquiring nuclear weapons capabilities to match regional rival, and alleged nuclear power, Israel and in light of suspicions over Iran’s pursuit of a nuclear arsenal.

Israel is suspected of possessing a nuclear arsenal with some estimates putting their warhead count in the hundreds. However, Israeli authorities will not confirm nor deny these reports.

Despite robust petroleum reserves, Saudi Arabia plans to construct 16 nuclear reactors over the next twenty years at a cost of $80 billion.

Saudi Royal Warns Against Military Solution to Iran Nuclear Issue

November 30th, 2011 by George Foulard

Via Bloomberg: Prince Turki al-Faisal, head of Saudi intelligence and former ambassador to the United States, warned audiences at a conference in Jordan against military action against Iran as a means of disabling the country’s nuclear program:

“It is important to remember there are other non-military policy alternatives, as yet unexplored, that could have the desired result without the unwanted consequences…We are sending messages to Iran that it is their right, as it is in any nation’s right, and as we ourselves are doing, to develop a civilian nuclear program.”

Interestingly, Prince al-Faisal suggested alternative policy initiatives while also referring to the possibility certain manifestations of nuclear energy being viable in the region.

Posts Tagged ‘Iran’

Active Community Members