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This agreement between #China & Iran is one of most important #geopolitical developments of the year & its outcomes will reverberate beyond the geopolitics of energy field

▪️ $280bn to be invested by China in #Iran's oil, gas & petrochemicals sectors 1/

petroleum-economist.com/articles/polit…
- China will get minimum guaranteed discount of 12% to any oil, gas & petchems products that it'll buy; plus another 6 to 8%
-China to speed up development of #Phase 11 of South Pars gas field -from which Total had withdrawn, in response to US sanctions
-Also, production from 2/
from Iran's West Karoun oil fields to be increased by addit' 500,000bl/d by end of 2020
-China's imports of Iranian oil to stay high, even to be increased=>a continuous undermining factor of US sanctions policy

-China can delay the payment of Iranian oil, gas and petchems 3/
Read 7 tweets
and off we go #EnergyTwitter! May the thread start! 💡

Did You Know: To provide vital #oil across the English Channel after the #DDay landings, within months secret #pipelines were unwound from massive spools to reach French ports.
Following the #DDay invasion– June 6, 1944 – Allied forces would need vast quantities of #petroleum to continue the advance into #Europe. Allied leaders also knew that petroleum tankers trying to reach French ports would be vulnerable to #Luftwaffe attacks...
A top-secret “Operation #PLUTO” – Pipe Line Under The Ocean – became the Allied strategy. It would fuel victory with #oil production from the #USA petroleum industry. The secret pipeline mission used a popular #WaltDisney character for its logo. #OOTT
Read 26 tweets
For the 82nd Month in a row, Australian Oil import coverage stocks are well below the 90 day IEA minimum, despite increasing by 3 days and stable daily imports for December 2018. Australian #energysecurity remains vulnerable #OOTT #energypolicy #oil #auspol
Australian Net Oil Imports have increased by ~12% vs December 2017. Australia remains vulnerable to international oil supply disruptions while stocks remain >40% below the IEA 90 day minimum. #OOTT #energypolicy #energysecurity #oil #auspol #energytwitter
Australian Domestic Refinery Inputs only contribute 16% of Indigenous supply for local consumption. With production having declined consistently over the last 10 years, import dependency remains a strategic concern. #EnergyPolicy #EnergySecurity #OOTT #OIL #auspol
Read 23 tweets

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