RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2018-06-08 12:55:00

VENEZUELA IRAN SANCTIONS

VENEZUELA IRAN SANCTIONS

BLOOMBERG - Venezuela wrote to fellow OPEC members urging them to unite against U.S. sanctions, echoing a similar letter from Iran, according to people with knowledge of the matter.

The two countries requested that the Organization of Petroleum Exporting Countries should discuss the impact of American sanctions at its upcoming meeting on June 22, the people said. Both nations asked for support from fellow producers, invoking the terms of OPEC's statutes.

"I kindly request solidarity and support from our fellow members," Venezuelan Oil Minister Manuel Quevedo wrote in a copy of the letter seen by Bloomberg News. OPEC should discuss "the constraining effects of unilateral sanctions imposed by the United States of America, which represent an extraordinary aggression, financially and economically, for our national oil industry's operations and the stability of the market."

The Latin American oil producer is already subject to U.S. sanctions and faces the prospect of stiffer penalties after a panel enlisted by the Organization of American States last month accused President Nicolas Maduro of committing crimes against humanity.

OPEC's No. 3 producer Iran is also subject to U.S. sanctions, including curbs on its oil trade, after President Donald Trump quit an international accord on the Islamic Republic's nuclear program last month. The nation's Oil Minister Bijan Namdar Zanganeh has already made a similar request to Venezuela.

OPEC and its allies will gather at a summit June 22 that's likely to be contentious. The U.S. has quietly pressed Saudi Arabia, the group's biggest member, and other producers to raise supply by about 1 million barrels a day, people familiar with the request said this month. Iran and Venezuela -- with little capacity to expand output -- stand to suffer from such a move.

Saudi Arabian Energy Minister Khalid al-Falih said last month that supplies will likely be increased later this year. Iran's letter complained that some "fellow ministers" had tried to speak on behalf of the entire organization, which is required to operate by consensus.

Venezuela's Oil Ministry didn't immediately respond to requests for comment.

-----

Earlier:

 VENEZUELA  SANCTIONS:

 

 

 

 IRAN  SANCTIONS:

 

 Venezuela Sanctions
2018, February, 2, 12:17:00

U.S. ENERGY WAR

PLATTS - President Donald Trump said Tuesday that the "war" on American energy is over in a State of the Union speech given as US crude oil output is set to...

 

     Iran Sanctions
2018, June, 4, 13:45:00

THE DRAMATIC U.S. GOVERNMENT

PLATTS - "Japanese companies don't want to stop imports suddenly," he said, adding the US position...

 

 Venezuela Sanctions
2018, January, 10, 12:45:00

VENEZUELA'S OIL DOWN TO 1.7 MBD

PLATTS - Venezuelan crude output plummeted in December to 1.70 million b/d, according to the...

 

     Iran Sanctions
2018, June, 4, 13:35:00

IRAN'S OIL EXPORTS 2.7 MBD

SHANA - The country exported 2.4 mbd of crude oil and 300,000 b/d of gas condensate, ultra light crude oil, during May.

 

 Venezuela Sanctions
2018, January, 8, 19:20:00

U.S. - VENEZUELA SANCTIONS

U.S.DT - “President Maduro and his inner circle continue to put their own interests above those of the Venezuelan people,” said Treasury Secretary...

     Iran Sanctions
2018, June, 4, 13:30:00

IRAN NEEDS SUPPORT

SHANA - The Iranian Minister of Petroleum further stressed that should the sanctions lead to any reduction in the oil market share of the I.R. Iran...

 Venezuela Sanctions
2017, September, 18, 12:30:00

RUSSIA - CHINA - VENEZUELA OIL

“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding...

     Iran Sanctions
2018, May, 23, 10:21:00

IRAN - EUROPE NUCLEAR

WNN - "We met today to confirm the continuing commitment of the European Commission and the Atomic Energy Organisation of Iran towards the...

 Venezuela Sanctions
2017, August, 28, 19:35:00

U.S. - VENEZUELA SANCTIONS

U.S. - The Trump administration imposed new sanctions prohibiting trading new debt and equity issued by the Venezuelan government and state...

 

     Iran Sanctions
2018, May, 18, 09:05:00

NO IRAN SANCTIONS

REUTERS - European Union leaders united behind the 2015 accord, and Brussels announced it would launch a legal process banning...

 

       Iran Sanctions
2018, May, 14, 11:35:00

GLOBAL IRAN SANCTIONS

PLATTS - Trump's plan to leave the Iran nuclear deal and reimpose sanctions could have major impacts for global oil, natural gas, metals and petrochemical...

       Iran Sanctions
2018, May, 14, 11:25:00

IRAN IMPLEMENTS COMMITMENTS

IAEA - As of today, the IAEA can confirm that the nuclear-related commitments are being implemented by Iran.

Tags: VENEZUELA, OPEC, SANCTIONS, USA