Live Insurance News

Oil insurance sanctions still affecting South Korean Iran crude imports

October 3, 2013October 1, 2013 H. Cutner

The country had imported 1.97 million barrels per day throughout the month of August. The latest reports regarding the impact of the oil insurance sanctions from the west on Iran regarding the crude that leaves that country’s shores have indicated that South Korea did import 1.97 million barrels per day of Iranian crude throughout the month of August. When compared to the figures from August 2012, this is notably higher, only because the country imported nothing. The oil insurance sanctions had only just gone into effect at that time last…

Oil insurance being prepared by Iran for its tankers

April 24, 2013April 22, 2013 H. Cutner

Still trying to recover from the bans in place by the E.U. and U.S. against the coverage and reinsurance. The president of the Bimeh Markazi (Central Insurance) Company in Iran has just announced that Tehran is now prepared to being providing oil insurance to tankers that are transporting crude from the country. They are taking this step as a preemptive step in case the western government sanctions are tightened. Though there are already oil insurance sanctions imposed by the European Union as well as the United States, the country is…

Insurance news from India ensures Iran crude coverage

February 14, 2013February 13, 2013 H. Cutner

Indian refiners that are running Iranian oil will be able to cover themselves through the government. The Indian government made insurance news on Wednesday that refiners will be able to find coverage for plants that are running crude that was sourced in Iran, helping to assuage some of the concerns that imports made from that Middle Eastern country would need to cease. The worry has been based on the sanctions that have been applied to coverage of Iran’s crude. Hindustan Petroleum Corp, a refiner run by the state in India,…