IRAN

Iranian Pipeline Reports Lack Substance

Much has been made in a number of prominent media reports over the part week about alleged rapid progress of work on an Iranian project to build a 900-km. pipeline to carry 1mn b/d of crude oil to a new loading terminal at Jask outside the Strait of Hormuz. The reports claimed that work on the project, employing some 5,000 workers and technicians, started early last year, with the first phase - taking 500,000 b/d of oil to a loading point...