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Bullboard - Stock Discussion Forum Parex Resources Inc T.PXT

Alternate Symbol(s):  PARXF

Parex Resources Inc. is a Canada-based independent oil and gas company in Colombia, focusing on sustainable, conventional production. The company is engaged in the business of the exploration, development, production and marketing of oil and natural gas in Colombia. The Company is focused on development in two main basins: Llanos and Magdalena. All of the Company's oil production and 87% of the... see more

TSX:PXT - Post Discussion

Parex Resources Inc > U.S. Pirates Iranian Oil
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Post by geezer21 on May 27, 2022 10:07am

U.S. Pirates Iranian Oil

https://news.antiwar.com/2022/05/26/us-seizes-tanker-full-of-iranian-oil-near-greece/

US Seizes Tanker Full of Iranian Oil Near Greece

Oil will be sent to the US, Iran faults 'clear example of piracy' Fresh off of the US targeting a series of companies involved in an Iran-linked oil smuggling network, the US has now seized an oil tanker near Greece, taking the Iranian oil within to be sent to the US.

The oil was on a Russian-operated ship, which had been singled out for US targeting in February. It was then called the Pegas. The company renamed the ship the Lana. Greece had impounded the Pegas and its Russian crew last month over the invasion of Ukraine, but ultimately released it.

Neither the US nor Russia is commenting. Greece says the US informed them the oil was Iranian, and that the US hired a different ship to take the oil to America. Iran has summoned the Greek charges d’affaires and called the incident a “clear example of piracy.”

The US accused the tanker of loading 700,000 Bbls of oil from Iran in August 2021. The tanker mostly carried oil to China.

The seizure of the tanker, and oil, comes amid tensions on the ongoing nuclear talks. Iran believes, and not unfairly, that the oil was just stolen from them, and the US position, while yet to be public, is that the oil is now theirs.

It’s not a great precedent, but generally Iran can’t do much about it, and the US is keen to have the oil.
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