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North Sea player that snapped up Brae Area interest for just $1 'defaults' on licence terms

Industry sources say unnamed outfit mentioned by co-venturers Taqa, JX Nippon and Spirit Energy is Fujairah International Oil & Gas ....

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Iranian sanctions evasion and the Gulf's complex oil trade

Iranian sanctions evasion and the Gulf’s complex oil trade
May 11, 2021
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Sanctions have had a devastating impact on Iran’s oil production and exports, preventing much-needed investment in the country’s ageing fields and barring it from legally exporting crude oil to global customers. Using a range of evasion tactics, however, Iran has succeeded in circumventing sanctions and maintaining a steady albeit much lower level of crude exports. The Gulf’s complex regional oil market has facilitated these tactics, providing the perfect environment for trade in oil that U.S. sanctions designate as illicit. Iran has cleverly exploited the Gulf’s crowded shipping lanes and labyrinths of production facilities and trading hubs to obfuscate and conceal the origin of its oil, allowing it to sell its crude to buyers in China, Syria, Venezuela, and elsewhere. Until oil sanctions are lifted as part of a diplomatic agreement on Iran’s nuclear program, the countr ....

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UAE Claims Ownership Of Oil Cargo U.S. Just Seized

An Emirati oil and gas company owned by the ruler of Fujairah has surprised U.S. authorities by claiming an oil cargo the U.S. seized earlier this year, alleging that it carried Iranian crude in violation of sanctions. ....

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Fujairah's oil company files claim on cargo seized by US

Company backed by emirate s ruler argues the oil was not Iranian at all ....

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UAE Sheikh Lays Claim to Oil Cargo US Says Is From Iran

UAE Sheikh Lays Claim to Oil Cargo US Says Is From Iran
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