WASHINGTON – Iran opened its first oil terminal in the Gulf of Oman on Thursday, a move aimed at making Iranian President Hassan Rouhani’s regime less dependent on the Strait of Hormuz, often a source of international tension.
The location of the new oil terminal, a project that began in 2019 and will cost some $2 billion, will also reduce transportation and insurance expenses for oil tankers.
“This is a strategic move and an important step for Iran. It will secure the continuation of our oil exports,” Rouhani said in a televised speech, according to state-run media.
The Strait of Hormuz, a crucial channel located between the Persian Gulf and the Gulf of Oman, is used by oil producers to transport crude from the Middle East. Approximately 20% of the world’s crude oil passes through the waterway.
The new terminal gives Iran more space to operate. The Strait of Hormuz is a narrow strip of water between Iran and the United Arab Emirates that connects the Persian Gulf to more open waters. The new terminal is to the east on the wider Gulf of Oman, which opens into the vast Arabian Sea.
Iran has previously threatened to close the strait in response to Trump administration’s decision to reimpose sanctions.
“This new crude export terminal shows the failure of Washington’s sanctions on Iran,” Rouhani said, adding that Iran plans to export 1 million barrels per day of oil.
Washington placed sanctions on Tehran after former then-President Donald Trump withdrew from the Joint Comprehensive Plan of Action, or JCPOA, nuclear agreement in 2018.
The JCPOA, brokered by the Obama administration in 2015, lifted sanctions on Iran that had hampered its economy and cut its oil exports roughly in half. In exchange for billions of dollars in sanctions relief, Iran agreed to dismantle some of its nuclear programs and open its facilities to more extensive international inspections.
Alongside the United States, France, Germany, the U.K., Russia and China were also signatories of the agreement.
In 2018, Trump kept a campaign promise and unilaterally withdrew the United States from the JCPOA calling it the “worst deal ever.” Trump also reintroduced sanctions on Tehran that had been previously lifted.
The Trump administration’s “maximum pressure” campaign crippled Iran’s economy and slashed oil exports.
The Biden administration is working to revive the JCPOA with the deal’s other signatories.
Quick Charge Podcast: October 3, 2023
New episodes of Quick Charge are recorded Monday through Thursday and again on Saturday. Subscribe to our podcast in Apple Podcast or your favorite podcast player to guarantee new episodes are delivered as soon as they’re available.
Stories we discuss in this episode (with links):
Listen & Subscribe:
Share your thoughts!
Drop us a line at firstname.lastname@example.org. You can also rate us in Apple Podcasts or recommend us in Overcast to help more people discover the show!
Tesla expands Cybertruck testing all the way to Mexico, adds new accessories
Tesla has expanded Cybertruck testing all the way to Mexico – in Baja California, at the starting point of a rally in which Elon Musk hinted the Cybertruck would perform well. The automaker also seems to be testing new accessories.
We expect Tesla to announce the Cybertruck launch event very soon, but in the meantime, the automaker seems to be continuing to test its electric pickup truck.
Prototypes have primarily been spotted in California and Texas throughout the year, but recently, the test program seems to have expanded.
A Cybertruck was spotted in Ohio this weekend, and it appears the same truck made it all the way to Florida. That’s the furthest east we have seen one of these trucks go.
Now, a couple of Cybertrucks have even been spotted in Mexico.
Erik Johnson posted on Facebook two pictures of two Cybertrucks charging at a resort in Ensenada, Mexico.
That’s actually the starting point of the Baja 1000 rally – one of the toughest off-road rallies in the world and an event that CEO Elon Musk referenced when talking about testing the Cybertruck’s suspension.
We’re working on increasing dynamic air suspension travel for better off-roading. Needs to kick butt in Baja.
The rally is still a few months away, but Tesla could be testing the water on the local terrain.
The same truck with the graffiti decal also appears to feature an accessory bar on top and what could be a Starlink antenna – better seen in this picture of the same truck.
Starlink, a satellite-based internet service made by Elon Musk’s SpaceX, has a plan option for road vehicles, and it could be a particularly good match for Cybertruck owners who will want to take the electric vehicle off-grid.
What do you think? Let us know in the comment section below.
Volkswagen taps Tesla, Rivian vet to fix EV software issues
Delays at Volkswagen’s Cariad software unit have already caused Porsche and Audi electric model launches to be pushed back. To turn things around, Volkswagen is hiring a former Tesla, Rivian, and Google executive to lead a new software design hub for future EVs.
VW’s Cariad division has been a problem child for several years now. After draining money and failing to meet its targets, Cariad’s disappointment was reportedly a reason behind former VW Group CEO Herbert Diess’s departure. Diess established Cariad in 2020 to advance Volkswagen’s EV software to help it compete against Tesla.
Cariad is developing a uniform software and tech platform for the group’s next-gen EVs, but poor execution has led to significant delays and glitchy rollouts. The issues have delayed launches for the Porsche electric Macan and the new Audi Q6 e-tron.
Oliver Blume, who took the reigns from Diess as VW’s CEO last September, has faced the same issues. The leader is making it a priority to turn things around.
Blume appointed Peter Bosch, former Bentley production chief, as CEO in May. Now, the unit is adding some veteran talent from industry leaders Tesla and Rivian.
Volkswagen hires Tesla exec to boost EV software unit
Volkswagen has hired Sanjay Lal, a former Tesla and Rivian exec, to help finally advance the automaker’s next-gen software platform.
According to Bloomberg, Lal will join VW next month from Rivian, where he worked as vice president of software platform for two years. Lal joined Rivian from Google, where he was Director of Engineering for Android Automotive. From July 2017 to June 2019, Lal was director of engineering at Tesla.
Lal will lead a software design hub at Cariad. The hubs projects will be first applied to two EVs, an Audi and VW model. Eventually, the unit’s output will be used for scaling the software platform across the Volkswagen Group of brands.
The hiring comes after Volkswagen cut production at two German plants due to slowing demand. According to Automobilwoche, Volkswagen’s Zwickau plant will shut down one of two ID.3 production lines. VW revealed a $1.3 billion investment in 2018 to transform the plant to build EVs.
Software is becoming the new vehicle design. Buyers are looking for the latest tech and features rather than worrying about the brand name.
Volkswagen is quickly realizing this. After falling behind BYD in passenger car sales in its largest market, China, for the first time, you can sense the urgency.
The automaker invested $700 million into Chinese EV maker XPeng in July for a 5% stake to develop new electric models. Audi also established a long-term partnership with Chinese state-owned SAIC Motor to accelerate EV development in the region.
EV makers like Tesla, NIO, BYD, and others are becoming the go-to for new features and tech rather than Audi or Porsche vehicles.
Tesla and others continue improving their vehicles through software updates with new features that make the car smarter, safer, and more efficient. For example, Tesla rolled out a new software update Tuesday that automatically activates and speeds up its hazard lights following a crash.
Volkswagen will have a long way to go in catching up, but hiring some veteran firepower with direct industry knowledge could help speed up the process.
Sports11 months ago
‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
Environment4 months ago
Japan and South Korea have a lot at stake in a free and open South China Sea
Sports6 months ago
MLB Rank 2023: Ranking baseball’s top 100 players
Sports2 years ago
Team Europe easily wins 4th straight Laver Cup
Technology2 years ago
Game consoles were once banned in China. Now Chinese developers want a slice of the $49 billion pie
Environment7 months ago
Game-changing Lectric XPedition launched as affordable electric cargo bike
Politics2 years ago
Have the last few wobbly weeks seen a turning point for Johnson as PM?
Business1 year ago
Bank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway