Iran Floating Crude Storage Estimated At 35 Mln Barrels-Broker

Iran Floating Crude Storage Estimated At 35 Mln Barrels-Broker
dj
Παρ, 30 Απριλίου 2010 - 18:35
Iran is storing an estimated 35 million barrels of crude oil in floating tankers, according to London-based shipbroker E.A. Gibson. The amount equates to nearly 10 days of Iranian oil production, Gibson said.
Iran is storing an estimated 35 million barrels of crude oil in floating tankers, according to London-based shipbroker E.A. Gibson.

The amount equates to nearly 10 days of Iranian oil production, Gibson said.

The shipbroker estimated 17 Very Large Crude Carriers, which can each hold 2 million barrels of crude, and one Suezmax tanker, which can hold 1 million barrels of crude, were storing Iranian oil in the
Persian Gulf .

"
Iran has been struggling to find buyers for certain of their heavier crudes, which have been facing increasing competition at the same time that its Asian refinery customers are engaging in seasonal refinery maintenance," Gibson said in a research note.

"Unwilling to greatly slow production, and without onshore storage for the oil produced at its offshore Soroush and Nowruz oilfields,
Iran has used more and more of their own fleet to store 'surplus' supplies," Gibson said.

While it is unclear how long inventories will be held at sea, Iranian floating storage in recent years has been drawn down in the third quarter, coinciding with the return of Asian refineries from maintenance, the shipbroker said.

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