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Iran. Underneath The Legislation

Iranian President Mahmoud Ahmadinejad listens throughout a press conference in New York, Friday Sept. 24, 2010. (AP Photograph/Bebeto Matthews)

chlorine factory( – The federal government Accountability Office (GAO) says that in response to open-supply stories, sixteen overseas oil companies sold refined petroleum products to Iran between January 2009 and June 2010, an activity that could set off sanctions towards a company if it continued accomplish that after July of this 12 months, when President Barack Obama signed the Complete Iran Sanctions, Accountability, and Divestment Act of 2010.

The new rules, which are designed to get Iran to suspend its nuclear program, “apply solely to the sale or provision of refined petroleum products made on or after July 1, 2010,” the day Obama signed the Act, reported the GAO.

“This report highlights open supply data that, following additional investigation by the State Department, might contribute to the identification of persons or firms whose activities could also be sanctionable,” the report states.

The report, based mostly on a GAO survey of hundreds of publicly accessible vitality trade and different publications, found that 16 overseas corporations were reported to have bought refined petroleum merchandise–equivalent to gasoline and gasoline oil–to Iran from January 2009 to June 2010.

Among these corporations, three–British Petroleum, Total, and Emirates Nationwide Oil Company–had contracts with the U.S. authorities.

The restrictions on gasoline and different petroleum merchandise imposed by the U.S. legislation are meant to squeeze the Iranian economic system because Iran does not have sufficient petroleum refining capacity to satisfy its home needs.

The U.S. Power Data Administration Internet site states that “Iranian refineries are unable to maintain pace with domestic demand, however Iran plans to extend refining capacity to round three million bbl/d by 2013.”

The new sanctions signed into legislation in July by President Obama–toughening those first enacted throughout the Clinton administration–permit the U.S. government to penalize international corporations that promote refined petroleum products to Iran. Beneath the legislation, overseas companies that sell refined petroleum products to Iran may be banned from getting contracts with the U.S. govenrment or getting loans from the U.S. Export-Import bank.

The federal government can forgo imposing sanctions on an organization promoting refined petroleum merchandise to Iran if it determines that levying the sanctions would hurt different very important U.S. interests.

Secretary of State Hillary Clinton speaks on the Council on Overseas Relations in Washington, D.C. on Wednesday, Sept. 8, 2010. (AP Photo/Alex Brandon)

The GAO report beneficial that the State Division ought to take account of open-supply reporting about overseas oil firms dealings with Iran in deciding whether or not to analyze if a company is currently engaging in activities that warrant sanction below the new regulation.

“This is the type of knowledge that the State Department needs to be taking and then beginning no matter investigations it thinks it warrants to document the extent to which these corporations might or may not be in violation of the brand new sanctions,” Joseph Christoff, the report’s creator, instructed

The GAO took its info from company experiences, trade publications, and overseas government sources, using “multiple corroborating sources of information” for each of the 16 corporations listed within the report.

The GAO report included a listing of 5 of the sixteen foreign corporations for which it said there was “no indication” that they’d stopped gross sales of refined petroleum to Iran after July 1, 2010. These five overseas companies were Emirates Nationwide Oil Firm of the United Arab Emirates, Hin Leong Buying and selling of Singapore, ChinaOil of China, Unipec of China, and Zhuhai Zhenrong of China. The GAO said it had contacted each of these firms on June 29, 2010 to comment about their business dealings with Iran. By August 27, none of those five companies had responded.

The GAO also reported that three international firms reported to have offered refined petroleum merchandise to Iran between Jan. 1, 2009 and June 30, oil refinery process wikipedia 49 2010–Russia’s Lukoil, Malayasia’s Petronas, and Kuwait’s IPG–had reportedly stopped selling such merchandise to Iran earlier than July.

Seven different corporations that the GAO mentioned were identified in open reports as having oil refinery process wikipedia 49 offered refined petroleum products to Iran throughout the January 2009 to June 2010 period confirmed to the GAO that that they had stopped doing so by July.

The GAO discovered that there contradictory reports about British Petroleum in the open sources it reviewed. “Whereas some open sourced reported that BP bought gasoline to Iran in 2009 or 2010, different open sources reported that BP stopped selling gasoline to Iran in 2008.” BP itself instructed the GAO that the latter was true. “Notified GAO that it stopped promoting gasoling to Iran in October 2008,” mentioned the GAO report.