Editor: Reuters and other foreign media be restricted by Iranian leaving the Office to report, film or take pictures in Tehran. Iranian u-boats take part in a naval parade on the last day of the game war velayat-90 in the sea of Oman near the Strait of Hormuz in the South of Iran 3 January 2012.
IMG credit: Reuters/Jamejamonline/Ebrahim NorouziPeg Mackey and Richard Mably
This week prepared a contingency plan, LONDON (Reuters) - Western powers on tap a record volume of stats to replace stocks almost all Gulf oil, which would be lost if Iran blocks the Strait of Hormuz, industry sources and diplomats of told of Reuters.
She said leaders of the International Energy Agency (IEA), which advises, that 28 oil have discussed a consumer countries, on Thursday (bpd) State oil in the United States, Europe, Japan and other importers stored to release existing plan up to 14 million barrels per day.
Action on this scale would be more than five times as large as the so far most important version in Agency history-response in 1990 invasion of Iraq in Kuwait.
The maximum version, some 10 million barrels of crude oil and about 4 million barrels per day refined products could be continued during the first month of each co-ordinated action, says the plan.
A European diplomat said "This necessary and meaningful answer to a closure of the road would form", told of Reuters. "It would not take long, put in place if it there... and unlikely would be needed, controversy under the membership (IEA) prove."
A spokesman for the IEA confirmed that the Paris an existing emergency plan has based agency, which has a maximum release capacity of 14 million barrels per day for a month describes. "We the situation carefully watch", he said the Iran.
Pass announced shipping lane, through which around 16 million barrels of crude oil Tehran on Friday for new military exercises in the world's most important oil every day.
Iranian officials have threatened to block the road, if new sanctions to discourage oil exports damage of Iran, Tehran's nuclear program.
Many oil experts believe that the threats aimed at rhetoric to avoid pressure to oil prices in a bid to sanctions.
"The IEA is the situation very closely, and is quite concerned", said the diplomat, confirmed that the Executive Board discussed Iran at the meeting on Thursday.
Content targeting for Western Governments Iranian oil supplies and the European Union is a ban on the exports of the country's crude oil by approximately 500,000 barrels per day business with Tehran imposed with the aim of reaching a final decision by the end of the month, deployment, to discourage already financial measures during Washington.
Industry sources said the IEA unlikely, that an EU embargo on Iran shares to be released. While less Iranian oil import Europe, Tehran, is trying to sell greater quantities of its biggest customer in Asia.
However, Bob McNally says, a former White House Energy Adviser and now head of consulting Rapidan group, a more modest Unterbrechung--if Iran were in some of its own production by the sanctions pressure, to the example-close action may require.
"In the face of lower OPEC spare capacity, IEA Commons versions must be considered, if longer supply disruptions even smaller as the flow through Hormuz, can", he said.
U.S. Congressman Edward Markey, Democrat natural resources Committee of the House of representatives, said above, that he us their reserves would support release, even though he the emergency stocks considered as only a short-term solution for the nation energy problems.
"His, our strategic oil reserves should use dictators, Wall Street speculators getting ready as a weapon against OPEC America and manipulators of the oil markets and the latest saber rattling from the Iran is no different," Markey Reuters said in a statement.
Also watching oil giant Saudi Arabia, Kuwait are accurate and to move in the Iraq, on the road, you are subject to most of its crude oil.
When the Golf Channel is blocked, can Saudi Arabia, which pass on world's top exporter, at the port of Yanbu on the Red Sea more crude oil through the country of the East-West pipeline system.
PIPELINES AVAILABLE
Total effective capacity has some 4.5 million barrels a day that network and supply - Yanbu, Jeddah, Riyadh and Rabigh refineries domestic to Saudi there about 3 million barrels a day export capacity, said a source industry.
Also export flexibility has the neighbouring United Arab Emirates. It approaches completion of Abu Dhabi crude oil pipeline that bypasses the road as much as 1.5 million barrels per day in the Indian Ocean vessel. Industry sources, said the pipeline has been tested and has already been pumped the first flow of oil.
"It's now just a matter of switching to a button," said one industry source.
The IEA tapped emergency stocks in June to help get lost just starting civil supply Libya's refineries. It was a move that oil of exporting countries angered the organization believed that the consumer group had exceeded its limits.
Founded in 1974 in the wake of the Arab oil embargo, the IEA has drawn three times reserves only down. Apart from the last summer released oil damaged member countries in 2005 after Hurricane Katrina offshore oil facilities in the Gulf of Mexico and in January 1991 after the Iraqi invasion of Kuwait about interrupted 4.3 million barrels per day available 2.5 million barrels per day.
(Additional reporting by Muriel Boselli in Paris, Humeyra Pamuk in Dubai, Dmitry Zhdannikov in London and Joshua Schneyer in New York, editing by Anthony Barker, Marguerita CHOY and Bob burgdorfer)
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