NEWS
Energy  

Turkey Rejects US Deadline to Cut Energy Imports From Iran

Turkey’s foreign minister objected to the Trump administration’s demand that it slash imports of Iranian petroleum products in six months, arguing that the time frame is too tight given his country’s reliance on its neighbor for energy supplies.

“I cannot diversify my energy sources in six months or two years,” Mevlut Cavusoglu said at a briefing in Washington after meeting with US Secretary of State Michael Pompeo, Bloomberg reported. 

“Nobody is in favor of supporting these sanctions — it is a unilateral decision of the United States.”

Turkey was among the eight governments that got US waivers to keep importing Iranian oil even after President Donald Trump’s administration imposed punishing sanctions on the Iran energy and banking sectors as part of the decision to withdraw from the 2015 nuclear accord.

The US is demanding those countries reduce imports by a significant amount by the time the 180-day review period ends for the first round of waivers. 

Cavusoglu said the US had not given Turkey details on how much it would be expected to cut.

Earlier this month, Turkey’s energy minister said the US exemption only applies to a quarter of Turkey’s oil imports from Iran, meaning it will need to cut its purchases of Iranian crude to about 3 million tons, compared with the 11.5 million tons it bought last year.

 

News No: 2720
Date: 2018/11/27 - 19:10
News Source: Financial Tribune

Turkey  US  Energy  petroleum 

Comments:

Leave a Comment:

   
   
   
 

Tesla lithium supplier Kidman settles ownership row over Australian mine

MELBOURNE – Kidman Resources, a supplier of lithium to U.S. electric car maker Tesla said on Monday it had settled a court dispute that could have derailed joint development of a mine in Western Australia with Chile's SQM.
 

Optimum eyes bid from Macquarie-backed BEE firm

Administrators of South Africa's Optimum Coal have elected a 3bn rand ($211mn) bid from black economic empowerment (BEE) consortium Project Halo, backed by Australian bank Macquarie, as their preferred offer for the financially distressed mine.
 

Australia Overtakes Qatar in LNG Export

Australia overtook Qatar as the world’s largest exporter of liquefied natural gas for the first time in November, data from Refinitiv Eikon, one of the world's largest providers of financial market data and infrastructure, serving over 40,000 institutions in over 190 countries, showed on Monday,
 

China’s 2019 steel use, output forecast to drop

China's steel consumption could fall in 2019 after it accelerated to double-digit growth this year, state-run Chinese think-tank the metallurgical planning and research institute said today.
 

OPEC's Stance Another Blow to US.

Iranian President Hassan Rouhani lauded the recent resistance shown by the member-states of the Organization of the Petroleum Exporting Countries in their recent meeting in Vienna against Washington's pressures, and described OPEC's stance as another failure for the US.
 

OPEC Meeting Outcome, Victory of Iran

A member of the Iranian parliament said the outcome of the 175th meeting of members of the Organization of the Petroleum Exporting Countries (OPEC) was a victory for Iran’s petroleum diplomacy.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners