Sunday, January 27, 2013 10:23 am
Dubai looks to Qatar for oil as flow from Iran cut
The Associated Press
Sunday's statement from the Emirates National Oil Co. said it could seek to expand imports from the Middle East and Asia to help meet rising demand in the city-state, which has little of its own oil unlike neighboring Abu Dhabi.
The statement did not mention Iran, but Dubai was a major buyer of Iranian condensate - light oil ready for refineries - and faced U.S. pressure to stop the flow.
Dubai was a major hub for Iranian trade, but commerce has been sharply reduced by Western sanctions over Tehran's nuclear program.