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BRENT WTI MOVE UP ON PROMISE OF US-CHINA TRADE TALKS

BRENT WTI MOVE UP ON PROMISE OF US-CHINA TRADE TALKS

06 September 2019

Brent Oil Futures was up 0.13% at $61.03 a barrel, as of 12:40AM ET (04:40 GMT), while Crude Oil WTI Futures was up 0.12% at $56.37 a barrel. The EIA...

PRAISE SINGERS  GO TO "GREET" NEW  GMD NNPC

PRAISE SINGERS GO TO "GREET" NEW GMD NNPC

04 August 2019

If journalism is to have meaning, to fulfill its raison d'etre, then it must be about speaking truth to power; giving a voice to the voiceless. The National Chairman of...

IS IT A NIGERIAN GAS FLARE COMMERCIALISATION PROGRAM ?

IS IT A NIGERIAN GAS FLARE COMMERCIALISATION PROGRAM ?

31 July 2019

The Nigeria Gas Flare Commercialisation Programme (NGFCP) is a prime example of a project well concieved but poorly executed and unlikely to achieve most of its objectives despite its inherernt...

VR CAPITAL BUY 25% OF P&ID AS NIGERIA FACE $9BN FINE

VR CAPITAL BUY 25% OF P&ID AS NIGERIA FACE $9BN FINE

05 June 2019

First, a health warning. This article is about recalcitrant, inept and quite possibly corrupt Nigerian politicians and government ministers. It is certainly about incompetence and misconduct in public office. It...

DISASTER AS UNEMPLOYMENT LEAPS BY 30%  TO 20.9m

DISASTER AS UNEMPLOYMENT LEAPS BY 30% TO 20.9m

29 May 2019

Nigeria is sleepwalking into a disaster which has the potential to unleash instability, insecurity and crippling hardship. Unemployment is always a cause for concern, it is the clearest indication that...

 NIGERIA NGIGE UNDEREMPLOYED OR UNEMPLOYABLE?

NIGERIA NGIGE UNDEREMPLOYED OR UNEMPLOYABLE?

08 May 2019

Working on the assumption that the Minister of Labour and Employment, Senator Chris Ngige has not been misquoted it is difficult to understand his recent pronouncement and what now seems...

NIGERIA ANOTHER MOU ANOTHER DAY

NIGERIA ANOTHER MOU ANOTHER DAY

01 May 2019

Nigeria has announced ambitious plans to double its oil production by 2025, targetting 4 million bpd in six years’ . Maikanti Baru, Group Managing Director at the Nigerian National Petroleum...

NNPC REFINERY WOES 2019

NNPC REFINERY WOES 2019

24 April 2019

The Nigerian Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has not unpredictably, stated that Nigeria’s continuous subsidy of petrol consumption means the Nigerian National Petroleum Corporation (NNPC) will...

NIGERIA OPEC STAND FIRM

NIGERIA OPEC STAND FIRM

28 March 2019

Nigeria and other member countries of the Organisation of Petroleum Exporting Countries (OPEC) as well as their non-OPEC allies led by the Russian Federation have said they are committed to...

PALM OIL PRODUCTION UNDERPERFORMS

PALM OIL PRODUCTION UNDERPERFORMS

18 March 2019

PALM OIL PRODUCTION A MEAGRE PERFORMANCE Nigeria from gaining a substantial share of the global oil palm industry now worth $62 billion annually, casting doubts on government’s ability to grow...

NIGERIA REFINING THE VISION

NIGERIA REFINING THE VISION

18 March 2019

NIGERIA REFINING THE VISION Nigeria is the only OPEC member country that imports gasoline (PMS) and holds the dubious distinction of being the largest importer in the world. The Nigerian...

IS THE PGB FATALLY FLAWED?

IS THE PGB FATALLY FLAWED?

18 March 2019

IS THE PIGB FATALLY FLAWED? Ten years after the Petroleum Industry Bill began its tortuous odyssey which has included the Bill being broken into four portions, both houses of the...

CBN PUMP UP THE T-BILLS

CBN PUMP UP THE T-BILLS

18 March 2019

CBN PUMP UP THE T-BILLS The Central Bank of Nigeria (CBN) plans to raise a total of N1.809 trillion from the debt market, in the first quarter of 2019.This is...

TIN EXPORTS NIGERIA

TIN EXPORTS NIGERIA

17 March 2019

TIN EXPORT NIGERIA Synterra are able to export high grade tin ore from Nigeria. We agregate the Mining production of a number of artisanal miners and consolidate volumes for exportSynterra...

BERYLLIUM MINING OPPORTUNITIES

BERYLLIUM MINING OPPORTUNITIES

17 March 2019

The Nigeria Solid Mineral and Mining Sector has in effect made the great leap forward which will now allow investors to take advantage of the vast mineral potential Nigeria possess....

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Sunday, 08 September 2019 19:13

HAS ADRIAN DARYA 1 FINALLY SOLD ITS CARGO TO SYRIA DESPITE SANCTIONS AND GIBRALTAR?

Written by
Adrian Darya  1 Sells Crude  Oil Cargo Adrian Darya 1 Sells Crude Oil Cargo synterra energy

Despite taking the scenic route, which included an unscheduled detention in Gibraltar and a meandering sometime convoluted voyage, the  MT Adrian Darya 1 finally reached its disport. Iran has confirmed that the tanker formerly known as MT Grace 1 suspected of trying to deliver Iranian oil to Syria in defiance of EU sanctions has now sold its cargo. Confounding both the EU, UK and the US and to their chagrin
The most recent Satellite images taken last friday, appeared to show the vessel, MT Adrian Darya-1 just off the coast of Syria. Yet Tanker Trackers a vessel tracking service purport to have satellite imagery which shows the vessel is fully laden. 

Tehran will be triumphant and perhaps now deal promptly with the little matter of the MT Stena Imperor. Notably the Iranian foreign ministry spokesman would only go as far as to say the ship had delivered its cargo after docking "on the Mediterranean coast". The spokesman did not give the name of the 'Buyer'. The US has been trying to seize the tanker since it was released by Gibraltar. It issued a warrant and blacklisted the vessel, threatening sanctions on any country which offered it aid. The ship had been been tracked sailing east across the Mediterranean. As is now the practise of Iranian crude oil tankers, they periodically go dark by deactivating their transponders, making it more difficult for them to be monitored. Though it would not be difficult to spot if the vessel is fully laden. 

The US state department confirmed earlier in the week it offered millions of dollars to the captain of vessel. Brian Hook, head of the department's Iran Action Group, emailed the captain of the MT Adrian Darya 1 in an attempt to entice him to sail it somewhere the US could seize it.

Satellite imaging company Maxar released photographs which purports to show the MT Adrian Darya-1 about two nautical miles off the Syrian port of Tartus on Friday. Following the emergence of these satellite images on Saturday, the UK's Foreign Office called the reports of the ship's presence near Syria "deeply troubling". Yet being in close proximity to Syria is not definitive evidence that the tanker has discharged its cargo, so the Iranian announcement could still be a hoax intended to divert attention.

Gibraltar ,the British overseas territory released the ship - despite strong protests by the US - after it said it received written assurances from Iran that the vessel would not head for countries under EU sanctions. Tehran has subsequently denied it made any such promises about the ship's destination. If what Gibraltar state is true, then it would be a simple matter to publish the said document or make it available for scrutiny. In any event any such document is irrelevant to the extent that it cannot be used to enforce any meaningful sanction against Iran. It is quite likely that Gibraltar would have requested some sort of assurance that the cargo was not going to be delivered to any entity under EU sanctions.

Though Gibraltar and the UK maintain there exists a legal basis for seizing oil tankers which breach EU restrictions. It seems tenous and fraught with political considerations. Not least why the EU are enforcing sanctions on Iran whilst simultaneously breaching their own JCPOA committments.

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