The Weir group provides a comprehensive range of products and services which support drilling, well completion, production and downstream operations around the world.
Interesting remarks coming from a former Weir group board member:
Weir group provides special support to Iranian entities and infrastructure in Basra intended for Iran to bypass US sanctions.
In effect, Weir group directly cooperating with Iranian oil minister and NIOC – National Iranian Oil Company, as well as private Iraqi and Iranian firms, which are all financed by the Iraqi central bank and the Iranian Central Bank (CBI).
Weir group, provides professional assistance and support as well as unique brokerage services which provides the end client to purchase the disguised Iranian oil via Basra.
Iraqi oil ministry which is also engaged with Weir group, had instructed to use oil from various locations in Iraq and conduct oil blending operations on behalf of Iran in order to bypass US sanctions.
Iraqi oil services companies operating in Basra such as the Iraqi National Oil Company and Iraqi Oil Tanker Company both are cooperating with Weir group to support this activity.
Furthermore, Iraqi and Irani VLCC motherships are delivering heavy oil from Basra to smaller tankers (aframax, suzemax etc.) owned by international companies among them Greek, UAE and Singaporean, in order to blend it with Iranian light crude oil close to Iraq-Iran border. During this process, Iranian ships are receiving 1/4 of Iraqi heavy oil, mixing it with 3/4 of higher quality Iranian crude oil and receiving Iraqi documentation to disguise. These international tankers deliver the blended crude mostly to Far East destinations as Singapore, China, Malaysia and South Korea as Iraqi oil.
The blended oil is being sold at around 20$ a barrel below market price.
The process outlined above is an example of how Iraqi, international firms including the Weir group, are supporting the Iranians.
Weir group supports Iranian regime to avoid US sanction in Iraq and various other territories
More details to follow…