September 2, 2019

TRUMPONOMICS:

Sanctions choke Iran's crude sales, but oil product exports booming (Ahmad Ghaddar, Bozorgmehr Sharafedin, 9/02/19, Reuters) 

While U.S. sanctions on Iran's oil industry have slashed the OPEC member's crude exports by more than 80%, oil product sales from the Islamic Republic remain strong at nearly $500 million a month, shipping data and Reuters calculations show.

Sanctions have barely affected Iran's exports of oil products, primarily fuel oil used for power generation and shipping as well as liquefied petroleum gas (LPG) used as cooking gas and petrochemical feed. [...]

Samantha Hartke, head of natural gas liquids and LPG at consultancy Energy Aspects, said her firm did not expect Chinese imports of Iranian LPG to abate given China's new petrochemical capacity is creating significant demand for the feedstock.

"The irony is: if not for the U.S.-China trade war, the U.S. would have greatly benefited from this uptick in Chinese demand as a means of mopping up its overabundance of LPG supplies, thanks to shale," she added.

Posted by at September 2, 2019 12:00 AM

  

« SHOULDN'T FRET TOO MUCH...: | Main | PECAN SHOULD HAVE PREVAILED: »