http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.36Change: 0.13
R/$ = 11.98Change: 0.07
Au 1197.41 $/ozChange: 7.99
Pt 1155.50 $/ozChange: 5.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Jul 10, 2012

SA in talks to get Iran to insure oil cargoes

Back
Brussels|Johannesburg|Tehran|Africa|Nuclear|Reuters|Africa|Europe|India|Islamic Republic Of Iran|Japan|Nigeria|Saudi Arabia|South Africa|United States|Crude Oil Cargoes|Crude Producer|Energy|Insurance Curbs|Insurance Firms|Nuclear|Personal Injury|Environmental|Dipuo Peters|Ebrahim Ebrahim
|Africa|Nuclear||Africa|||Energy|Nuclear||Environmental|
brussels|johannesburg|tehran|africa-company|nuclear-company|reuters|africa|europe|india|islamic-republic-of-iran|japan|nigeria|saudi-arabia|south-africa|united-states|crude-oil-cargoes|crude-producer|energy|insurance-curbs|insurance-firms|nuclear-industry-term|personal-injury|environmental|dipuo-peters|ebrahim-ebrahim



South Africa is talking to Tehran about the prospect for Iran to insure its crude oil cargoes, which can no longer be underwritten by European insurance firms due to sanctions, Energy Minister Dipuo Peters said on Tuesday.

Peters said Deputy Foreign Minister Ebrahim Ebrahim had met his Iranian counterpart two weeks ago to discuss ways of getting around the European clamp-down on insurance and reinsurance, part of Western sanctions to halt Tehran's disputed nuclear programme.

"They were discussing these sorts of issues," she told Reuters on the sidelines of a conference in Johannesburg.

A spokesman for South Africa's foreign ministry declined to provide further details.

Iran used to be South Africa's main source of crude, accounting for 30% of its imports, although Africa's biggest economy has halved its average monthly shipments from Iran this year to 280 000 t because of US diplomatic pressure.

South Africa has offset the cuts by increasing imports from Saudi Arabia and Nigeria, Africa's top crude producer, but faces the prospect of no imports from Iran from July 1, when the European insurance curbs came into effect.

Around 90% of the world's tanker fleet is covered by Western protection and indemnity (P&I) clubs, which insure against personal injury and environmental clean-up claims.

Brussels has made clear it will not be offering unilateral exceptions to the sanctions - as the US has - but diplomats say Europe does not object to third-party states striking their own deals with Tehran to secure energy supplies.

"South Africa has a legitimate dependency issue," a senior Western diplomat told Reuters this week. "We want them to get off that, but in the meantime why not ask Tehran to pay for insurance? They are in a very good position to negotiate."

Faced with the same problem, Japan has provided sovereign guarantees for Iranian crude shipments, while India is allowing state refiners to import Iranian oil, but with Tehran arranging shipping and insurance from July 1.
 

Edited by: Reuters
Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Energy News
Egypt has issued a five-year tender to lease a second liquefied natural gas (LNG) import terminal, the head of the State gas board told Reuters on Monday, seeking to tackle an energy crisis. Egypt was once an energy exporter but declining oil and gas production and...
South Africa’s national electricity grid has received a 100 MW boost as the Dorper wind farm, in the Eastern Cape, reached steady-state electricity feed-in. The wind farm, which was one of the Department of Energy’s first-window projects of the Renewable Energy...
Preparatory site work at the Saldanha Bay Industrial Development Zone (IDZ) continues to advance in preparation for the start of construction of the pivotal oil and gas hub in August, the Western Cape government advanced in a project update on Monday. Western Cape...
More
 
 
Latest News
Newcastle Works
Updated 33 minutes ago Steel producer ArcelorMittal South Africa (AMSA), which recently completed the R2-billion reline of the blast furnace at the Newcastle mill, has decided not to immediately ramp up the plant to its expanded 1.9-million-tonne-a-year nameplate capacity, owing to weak...
Updated 1 hour 21 minutes ago Comment emerging from the Renewable Energy Forum in South Africa, on Wednesday, has suggested a largely bullish view of the local renewable-energy sector by investors and project developers, with several applauding the progress of government’s Renewable Energy...
Updated 1 hour 29 minutes ago Municipalities in the Free State owe Eskom almost R2-billion and the bulk electricity supplier is threatening to cut off the power supply to a host of municipalities in the province as a result of the huge municipal debts. “This will be grossly unfair to all the...
More
 
 
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
 
 
 
 
 
This Week's Magazine
Mercedes-Benz will launch ten plug-in hybrid models by 2017, says the German automaker’s parent company, Daimler. Following the launch of the S 500 plug-in hybrid, March saw the introduction of the C 350 e, the second model to feature the drive-train concept. Under...
Energy Minister Tina Joemat-Pettersson's recent unveiling of something of a road map for an upscaled and accelerated deployment of independent power producer (IPP) capacity has been widely welcomed. Besides plans to accelerate and expand the hitherto successful...
South African Airways (SAA) acting CEO Nico Bezuidenhout has firmly denied reports that a stake in the airline was going to be sold to Air China. “Categorically, SAA is not in any talks with any airline to sell itself at the moment,” he stated at a media briefing at...
Russian State-owned nuclear group Rosatom has confirmed that it is in talks with Nigeria about the construction of nuclear power plants (NPPs) in that country, but has denied that any agreement has been signed. This follows a recent report in the Nigerian media that...
HANDIGAS LPG LPG users can order products at the Afrox website or through the Afrox call centre and receive next-day delivery
Gas products and services company Afrox has launched a pilot programme to deliver its range of Handigas liquefied petroleum gas (LPG) to domestic consumers to fill a gap in the market, thereby expanding its direct contact with end-users.
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96