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Italian refineries to shut down over Iran oil sanctions

http://www.presstv.ir/detail/224588.html -- The European Union (EU) sanctions on imports of petroleum from Iran over the country's peaceful nuclear program can lead to the closure of Italian oil refineries, European oil industry sources say.

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Submitted Feb 03, 2012 By: TruGr81

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WalRus49 Champion Author Boston Posts:2,240 Points:507,790 Joined:Nov 2010	Message Posted: Feb 5, 2012 4:42:52 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage...........
Double_Golden All-Star Author San Francisco Posts:745 Points:244,780 Joined:Aug 2011	Message Posted: Feb 5, 2012 2:25:37 AM Ignore Double_Golden Report Abuse ok
anascom All-Star Author Hamilton Posts:886 Points:320,340 Joined:Feb 2011	Message Posted: Feb 4, 2012 11:56:35 PM Ignore anascom Report Abuse i hope that won't harm Italian oil industry/companies and won't hurt Italian economy!
GRCummins53 Veteran Author Stockton Posts:337 Points:141,010 Joined:May 2011	Message Posted: Feb 3, 2012 6:20:46 PM Ignore GRCummins53 Report Abuse Only a fool could believe Iran's nuclear program is for peaceful purposes.
The_DR Champion Author New Jersey Posts:1,069 Points:233,620 Joined:Aug 2011	Message Posted: Feb 3, 2012 3:41:10 PM Ignore The_DR Report Abuse I didn't know that Italy had refineries.
ktbaeohana Champion Author Las Vegas Posts:1,183 Points:264,170 Joined:Mar 2010	Message Posted: Feb 3, 2012 2:48:34 PM Ignore ktbaeohana Report Abuse Watch and see.
Metrolizer Champion Author Fort Worth Posts:1,773 Points:1,906,980 Joined:Feb 2005	Message Posted: Feb 3, 2012 2:00:26 PM Ignore Metrolizer Report Abuse "... sanctions on imports of petroleum from Iran over the country's peaceful nuclear program ..." No. Sanctions are to force Revolutionary Iran's military nuclear bomb program into the open or preferably into shutdown.
VomVom Champion Author Calgary Posts:2,459 Points:1,293,525 Joined:May 2007	Message Posted: Feb 3, 2012 1:14:55 PM Ignore VomVom Report Abuse Chemist74 of Cleveland posted: Feb 3, 2012 @ 7:10:25 AM “Since India and China will continue to buy Iranian oil, there will be no significant decrease in global crude supply so if Italian refineries close it will be vecause they want to not because they can not get crude oil.” __________________________________________________________________________ Chemist74’s argument makes no sense. Are you suggesting that if India and China were to stop buying oil from Iran, there would be a significant decrease in global crude supply? That’s rubbish! Also, the Italian refineries (and just about all of Europe) are designed to refine light crudes (like Brent Blend, Iranian and Saudi Arabian crudes). Iranian light is 33.1 API. Even the Iranian heavy is 30.2 API. They cannot handle the real heavy oil and dilbit like those from Venezuela at ~16 API or lower. Without a suitable replacement feedstock, they will have to shut down. List of Crude Oil Products [Edited by: VomVom at 2/3/2012 2:16:46 PM EST]
VomVom Champion Author Calgary Posts:2,459 Points:1,293,525 Joined:May 2007	Message Posted: Feb 3, 2012 12:53:01 PM Ignore VomVom Report Abuse This is another one of the foreign policy failures of the Obama Administration. The Brits are just as stupid. The whole Iranian oil sanction was never well thought out. The US does not buy any oil from Iran. So she really has no moral authority to tell everyone to stop buying oil from Iran in such short notice. As expected, India and China are not going to harm their still recovering economies to boycott Iranian oil. Without the entire whole community on side, sanctions are not going to work.
RochBear Champion Author Minnesota Posts:9,118 Points:1,517,805 Joined:May 2006	Message Posted: Feb 3, 2012 9:43:44 AM Ignore RochBear Report Abuse Iran's "peaceful nuclear program". Oh Please. Iran intends to build a bomb, and their first target is Isreal. The USA is their second target.
db60 All-Star Author Indiana Posts:982 Points:211,255 Joined:Oct 2011	Message Posted: Feb 3, 2012 9:20:28 AM Ignore db60 Report Abuse Oh, boo hoo.
dorisntx Champion Author Fort Worth Posts:1,267 Points:336,725 Joined:Apr 2011	Message Posted: Feb 3, 2012 8:36:18 AM Ignore dorisntx Report Abuse We should have finished the job when we had the chance...
Martinman Champion Author Mississippi Posts:12,517 Points:1,740,045 Joined:Sep 2005	Message Posted: Feb 3, 2012 8:22:22 AM Ignore Martinman Report Abuse This is propaganda being put out by the Iranian government, that is why every Google link is not working. They're trying to disrupt the oil markets, by playing on the market speculators who jump at anything in the press. . Look at the URL address above: http://www.presstv.ir/detail/224588.html ".ir" is the URL country code for Iran. Article should be deleted.
chemist74 Champion Author Cleveland Posts:12,902 Points:2,279,875 Joined:Apr 2005	Message Posted: Feb 3, 2012 8:10:25 AM Ignore chemist74 Report Abuse Since India and China will continue to buy Iranian oil, there will be no significant decrease in global crude supply so if Italian refineries close it will be vecause they want to not because they can not get crude oil.
GingoutMD Champion Author Maryland Posts:2,669 Points:546,455 Joined:Jan 2010	Message Posted: Feb 3, 2012 8:05:58 AM Ignore GingoutMD Report Abuse The link doesn't even work. That tells you how reliable the source is...
gasrat6083 Champion Author Long Island Posts:1,693 Points:838,960 Joined:Sep 2005	Message Posted: Feb 3, 2012 7:49:52 AM Ignore gasrat6083 Report Abuse Check out the source.