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Shell, Vitol suspend gasoline sales to Iran

Market Watch -- NEW YORK (MarketWatch) -- Oil major Royal Dutch Shell and oil-trading giant Vitol have suspended gasoline sales to Iran, as policy makers explore fresh options in an effort to curb the country's nuclear program.

Royal Dutch Shell spokesman Rainer Winzenried told MarketWatch that the oil major is not exporting gasoline to Iran. He declined to say how much gasoline Shell has typically sold to Iran, or how long ago the company stopped selling gasoline to the country.

Vitol spokesman Patrick Handley of the Brunswick Group's London office said the world's largest oil trader has taken no part in gasoline tenders with Iran since the start of the year. Some deliveries have been made in 2010 on contracts signed before Jan. 1, however.

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Submitted Mar 10, 2010 By: sphere68

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Sneakers55 Champion Author Houston Posts:31,142 Points:1,257,745 Joined:Nov 2005	Message Posted: Mar 11, 2010 1:30:01 AM Ignore Sneakers55 Report Abuse carlsonguitars wrote: >awesome!!! It's about time they cut them off... Problem is, >NONE of us will be able to buy gas soon (BECAUSE WE WILL >ALL BE DEAD) if someone doesn't stop IRAN from finishing >the nukes they have been working on. Iran would be obliterated from the face of the earth if they were stupid enough to actually use a nuke.
mmene Champion Author Houston Posts:2,378 Points:547,820 Joined:May 2008	Message Posted: Mar 10, 2010 10:41:02 PM Ignore mmene Report Abuse Good news. The more we get companies to stop trading with Iran the better.
OHMS Champion Author Orange County Posts:7,786 Points:873,885 Joined:May 2005	Message Posted: Mar 10, 2010 9:46:57 PM Ignore OHMS Report Abuse guess their cruise missiles can't fly if shell doesn't sell them gasoline. Vitol could change it; but who knows how?
Blue48 Champion Author Illinois Posts:2,486 Points:633,615 Joined:Feb 2007	Message Posted: Mar 10, 2010 8:53:27 PM Ignore Blue48 Report Abuse WOW! GETTING TOUGH!
carlsonguitars Champion Author Portland Posts:4,050 Points:667,380 Joined:Jan 2008	Message Posted: Mar 10, 2010 5:56:49 PM Ignore carlsonguitars Report Abuse awesome!!! It's about time they cut them off... Problem is, NONE of us will be able to buy gas soon (BECAUSE WE WILL ALL BE DEAD) if someone doesn't stop IRAN from finishing the nukes they have been working on. Iran poses a HUGE threat to the world, more so than Afghanistan or Iraq!!! . . . On a separate note, I doubt that Iran will cease to receive gasoline, it's amazing how people will SELL OUT to the highest bidder, even if it could end up killing them in the long run.....
Pete12 Champion Author Albany Posts:1,855 Points:771,790 Joined:Nov 2005	Message Posted: Mar 10, 2010 5:26:56 PM Ignore Pete12 Report Abuse This is a good thing. Maybe now they will get the idea nobody is with them on the Nukes.
MRED3 Champion Author Jacksonville Posts:2,059 Points:404,395 Joined:May 2009	Message Posted: Mar 10, 2010 5:25:59 PM Ignore MRED3 Report Abuse There waking up.
camel1 Champion Author Minnesota Posts:3,620 Points:1,292,575 Joined:Jul 2006	Message Posted: Mar 10, 2010 5:20:53 PM Ignore camel1 Report Abuse smart move it should have happened years ago
madison8359 Champion Author Cleveland Posts:2,739 Points:588,715 Joined:Apr 2008	Message Posted: Mar 10, 2010 5:20:00 PM Ignore madison8359 Report Abuse Good first move and about time, what is next? I suppose Iran will start crying that we are not playing fair! Well welcome to the real world, how does it feel when the shoe is on the other foot?
abcdMA Champion Author Worcester Posts:2,948 Points:583,410 Joined:Nov 2008	Message Posted: Mar 10, 2010 5:13:44 PM Ignore abcdMA Report Abuse why were they still selling?
fire@53 Champion Author Philadelphia Posts:6,876 Points:1,789,575 Joined:May 2003	Message Posted: Mar 10, 2010 5:07:48 PM Ignore fire@53 Report Abuse So what took so long?
BobbyVA Champion Author Virginia Beach Posts:1,285 Points:277,665 Joined:Jul 2009	Message Posted: Mar 10, 2010 5:07:46 PM Ignore BobbyVA Report Abuse The US W/H pushed the sanctions to Iran and this oil exporting will come back to haunt us. They will find buyers for their crude in China and other rouge nations.
mplato Champion Author Columbia Posts:4,102 Points:988,780 Joined:Jun 2004	Message Posted: Mar 10, 2010 5:06:11 PM Ignore mplato Report Abuse duh....about time....still wont buy from Shell....Conoco....Citgo sell to inrich our enemies....nothing from me.
ang2010 Veteran Author New York Posts:322 Points:77,175 Joined:Feb 2010	Message Posted: Mar 10, 2010 5:05:25 PM Ignore ang2010 Report Abuse I agree
njerald Champion Author Seattle Posts:2,698 Points:628,830 Joined:Oct 2007	Message Posted: Mar 10, 2010 5:01:25 PM Ignore njerald Report Abuse About time....
Panama Red Champion Author San Diego Posts:6,020 Points:1,521,790 Joined:Jun 2004	Message Posted: Mar 10, 2010 4:58:51 PM Ignore Panama Red Report Abuse Iran will find other sources of gasoline until they can build up their own refineries.
TRAIN RIDER Champion Author San Bernardino Posts:4,091 Points:1,759,665 Joined:Oct 2004	Message Posted: Mar 10, 2010 4:49:52 PM Ignore TRAIN RIDER Report Abuse DOEN THAT MEAN THAT THERE IS MORE GAS FOR THE U.S. IF THEY AREN'T GOING TO SELL TO IRAN?
fordmexico Champion Author Michigan Posts:1,947 Points:172,600 Joined:Oct 2009	Message Posted: Mar 10, 2010 4:49:15 PM Ignore fordmexico Report Abuse Iran has plenty of oil and natural gas. It will find a way to obtain gasoline until it can build up its refining capacity.
CPGas1815 Champion Author Michigan Posts:1,499 Points:212,970 Joined:Apr 2008	Message Posted: Mar 10, 2010 4:39:18 PM Ignore CPGas1815 Report Abuse Hey BIGWAYNE, It might be freezing in South Carolina, but here in the northwoods of the U.P. of Michigan where snowfall has historically been measured in feet, we've had hardly any snow at all. My entire yard is barren of snow. That which is happening in your locale and that which is happening here is a predicatble consequence of climate change, or for fear mongers such as yourself "Global Warming". I suspect when the sweltering southern summer arrives in South Carolina, you'll be blabbering some other wingnut propaganda.
Panthr1 Sophomore Author North Carolina Posts:140 Points:441,395 Joined:Aug 2008	Message Posted: Mar 10, 2010 4:37:45 PM Ignore Panthr1 Report Abuse Send them some lead instead!
goldseeker Champion Author West Virginia Posts:12,675 Points:1,708,740 Joined:Sep 2005	Message Posted: Mar 10, 2010 4:36:17 PM Ignore goldseeker Report Abuse Who cares?
Wolfwings Champion Author Delaware Posts:3,735 Points:781,145 Joined:May 2004	Message Posted: Mar 10, 2010 4:26:11 PM Ignore Wolfwings Report Abuse I'm confused..... I thought we BOUGHT oil from Iran.
CPGas1815 Champion Author Michigan Posts:1,499 Points:212,970 Joined:Apr 2008	Message Posted: Mar 10, 2010 4:24:45 PM Ignore CPGas1815 Report Abuse This is exactly what we don't need on a day of economic terror for gasoline consumers, or for that matter, the consumers of all energy products. All of the Energy commodities traded on Wall Street have increased today. I just heard some talking head on television say that "momentum is strong" and that "prices will continue to increase". But worst of all, when Iran and Oil are linked, the speculators and traders seized upon that news and increased the futures bid price of all energy market commodities. An energy apocalypse on our horizon. Wall Street is partying like it was 1999. Stocks are up, and the price of utilities, gasoline, natural gas, and fuel oil have all increased. While tomorrow is another day, and one can't predict the future, I am very wary of that which we will all see on our local gas stations' signs in the days, weeks, and months to come. $3.00 plus is a certainty, and $4.00 a probability. But if something dramatic happens in a Gulf whether that Gulf is in the Middle East or along the USA's southern shore, we may have to endure record high $5.00 plus gas prices.
dollarwatcher Champion Author Wisconsin Posts:2,806 Points:524,150 Joined:Mar 2007	Message Posted: Mar 10, 2010 4:23:44 PM Ignore dollarwatcher Report Abuse Hey Hugo, hear that?
ChilePop Veteran Author Georgia Posts:291 Points:815,745 Joined:May 2007	Message Posted: Mar 10, 2010 4:23:25 PM Ignore ChilePop Report Abuse Good - - maybe Iran will spend money on a refinery instead of an A-bomb.
saleboss All-Star Author Phoenix Posts:582 Points:514,885 Joined:Feb 2006	Message Posted: Mar 10, 2010 4:23:07 PM Ignore saleboss Report Abuse I would support all the oil companies cutting off supplies to Iran!
ziyulu Champion Author Oklahoma City Posts:3,275 Points:611,150 Joined:Aug 2007	Message Posted: Mar 10, 2010 4:22:49 PM Ignore ziyulu Report Abuse Bigwaynef from South Carolina... Please stay on topic. No where in this article is there any mention about Al Gore.
aarrrt Champion Author San Diego Posts:2,809 Points:678,625 Joined:May 2008	Message Posted: Mar 10, 2010 4:20:59 PM Ignore aarrrt Report Abuse I suppose this is good but not sure it matters to Iran. They'll get plenty from Russia, Malaysia and France.
snewwee Champion Author Detroit Posts:4,809 Points:978,405 Joined:Sep 2007	Message Posted: Mar 10, 2010 4:20:40 PM Ignore snewwee Report Abuse Motor scooter don't use as much gasoline and some of the Hummer-type monsters that are selling here in the States.
LostAgain2009 Veteran Author New Mexico Posts:465 Points:181,930 Joined:Apr 2009	Message Posted: Mar 10, 2010 4:17:14 PM Ignore LostAgain2009 Report Abuse I doubt Iran needs the gas.
comprof Champion Author Houston Posts:1,582 Points:350,725 Joined:Jul 2009	Message Posted: Mar 10, 2010 4:05:13 PM Ignore comprof Report Abuse We need the foreign trade to offset China imports regardless of who we sell to.
Bigwaynef Champion Author South Carolina Posts:3,749 Points:1,083,370 Joined:Dec 2006	Message Posted: Mar 10, 2010 4:02:15 PM Ignore Bigwaynef Report Abuse Don't worry Al Gore will correct this just like the Global Warming, scuse me Global freezing now!
bby Champion Author Twin Cities Posts:1,629 Points:214,120 Joined:Nov 2009	Message Posted: Mar 10, 2010 3:57:50 PM Ignore bby Report Abuse Yet another reason to hike prices!
caddilac Champion Author Ontario Posts:10,420 Points:1,123,455 Joined:Apr 2007	Message Posted: Mar 10, 2010 3:56:00 PM Ignore caddilac Report Abuse If they are suspending gasoline sales to Iran then that means they should have more to sell to us, and prices should go down. Yeah, I know, wishful thinking on my part. The reality is that they will just cut back on production, by the amount they were selling to Iran, and we will still be held at gunpoint if we need to buy their gasoline.
NavyStore Champion Author Seattle Posts:2,526 Points:1,148,785 Joined:Aug 2005	Message Posted: Mar 10, 2010 3:53:28 PM Ignore NavyStore Report Abuse Plug Baby, Plug!
RockCity Champion Author Denver Posts:2,550 Points:454,570 Joined:Mar 2009	Message Posted: Mar 10, 2010 3:52:21 PM Ignore RockCity Report Abuse Who will make up the difference on sales. Never mind, I think the answer is quite clear.
swrestler Champion Author Grand Rapids Posts:1,005 Points:556,410 Joined:Oct 2008	Message Posted: Mar 10, 2010 3:50:52 PM Ignore swrestler Report Abuse Iran has enough of their own OIl they don't need More.....
NavyEOD Champion Author Los Angeles Posts:4,954 Points:1,021,965 Joined:Jul 2007	Message Posted: Mar 10, 2010 3:49:01 PM Ignore NavyEOD Report Abuse Alternative fuels.
PartsStore Sophomore Author West Virginia Posts:203 Points:528,190 Joined:Apr 2008	Message Posted: Mar 10, 2010 3:46:45 PM Ignore PartsStore Report Abuse Cut 'em off!
ifallsguy Champion Author Minnesota Posts:2,536 Points:719,200 Joined:Apr 2007	Message Posted: Mar 10, 2010 3:38:51 PM Ignore ifallsguy Report Abuse These are not US companies, so they do not fall under our laws
janctx Champion Author Lubbock Posts:2,513 Points:821,720 Joined:Nov 2007	Message Posted: Mar 10, 2010 3:37:49 PM Ignore janctx Report Abuse best news ive seen in a long time.
ricker8 Champion Author Ontario Posts:2,216 Points:448,365 Joined:Oct 2008	Message Posted: Mar 10, 2010 3:33:55 PM Ignore ricker8 Report Abuse its a business, make the money when and where ever you can.
KarateDude Champion Author Cincinnati Posts:1,426 Points:290,695 Joined:Mar 2008	Message Posted: Mar 10, 2010 3:33:54 PM Ignore KarateDude Report Abuse They will just broker the deal through other countries or groups...
MINER Champion Author Pittsburgh Posts:8,287 Points:2,438,945 Joined:Jul 2002	Message Posted: Mar 10, 2010 3:30:23 PM Ignore MINER Report Abuse Well how about thart, we are not completely alone after all...
eddyp94 Champion Author Ontario Posts:3,976 Points:832,760 Joined:Mar 2008	Message Posted: Mar 10, 2010 3:29:47 PM Ignore eddyp94 Report Abuse they don't have a choice...
carzoom Rookie Author Grand Rapids Posts:20 Points:56,150 Joined:Mar 2007	Message Posted: Mar 10, 2010 3:26:12 PM Ignore carzoom Report Abuse At least someone is doing something! There'll probably be workarounds figured out but the good ol' Dutch are making a stand.
djtdi Champion Author San Jose Posts:1,026 Points:260,290 Joined:Aug 2005	Message Posted: Mar 10, 2010 3:23:40 PM Ignore djtdi Report Abuse Like Reagan did, remember Iran Contra arms deals, they'll find some middle men to sell it to them!
thirstyauto Champion Author Milwaukee Posts:5,829 Points:604,930 Joined:Nov 2008	Message Posted: Mar 10, 2010 3:21:12 PM Ignore thirstyauto Report Abuse Sometimes you just make money where you can!
rfe330 All-Star Author Winston-Salem Posts:700 Points:229,275 Joined:Nov 2008	Message Posted: Mar 10, 2010 3:19:43 PM Ignore rfe330 Report Abuse It's a global market - money talks.
briguy101386 Rookie Author Oregon Posts:79 Points:26,960 Joined:Aug 2008	Message Posted: Mar 10, 2010 3:18:19 PM Ignore briguy101386 Report Abuse Will take the oil.