Iran defies sanctions, Iraq plans pipelines, and BP's shares rise

摘要

Iran claimed to have thwarted attempts by the US to cut off its imports of gasoline in protest against Iran's nuclear programme by exporting a gasoline cargo to Iraq. The Iranians have greatly increased their production of gasoline by producing some of it in petrochemical plants, which have been able to provide up to 140,000 bpd, according to a government source. Before this, Iran was importing approximately 130,000 bpd. There have been complaints that the new strategy has led to a shortage of some petrochemicals. Japan and South Korea meanwhile imposed further sanctions on Iran covering investment in energy projects. The US was reported to have asked Japan to go further, by withdrawing from the development of Iran's Azadegan oilfield.