Oil Supply to North Korea May Rise

Oil Supply to North Korea May Rise

Iran will likely increase its oil flows to North Korea after the removal of sanctions targeting its nuclear program, according to a report published by the US Congressional Research Service.

The document covers the likely consequences to Iran’s foreign policy in the wake of the implementation of the Joint Comprehensive Plan of Action, Washington-based portal NK News reported.

“According to some observers, a portion of China’s purchases of oil from Iran and other suppliers is reexported to North Korea,” the portal said, citing the report.

“As Iran’s oil imports increase after international sanctions are removed in conjunction with the JCPOA, it is likely that additional quantities of Iranian oil might reach North Korea, either via China or through direct purchasing by North Korea.”

Iran and six world powers reached a historic agreement in July to curb Tehran's nuclear program in exchange for decades-old embargos against the country.

The congressional report does not give further details on the reexports, thought the NK News ship tracker shows frequent North Korean tanker trips to a number of oil terminals in China.

The new demand, coupled with Pyongyang's lack of domestic oil and gas production and refinery capacity, could make it a likely destination for Iranian crude or oil products.


Short URL : http://goo.gl/qf5gRS
  1. http://goo.gl/nlYsku
  • http://goo.gl/quKW3T
  • http://goo.gl/2F6CgT
  • http://goo.gl/vdg1ms
  • http://goo.gl/pvXVrB

You can also read ...

India Co. Says ‘Important’ to  Buy Some Iranian Oil
Mangalore Refinery and Petrochemicals, a subsidiary of India’s...
NIOC Chief: US Talk to Zero Iran Oil Export Is Hot Air
Rhetoric from the United States that it wants to reduce Iran’s...
Crude Prices Rise
Oil prices rose for a fourth day on Wednesday after industry...
NOPEC Threat Prompts Change at OPEC
OPEC has urged its members not to mention oil prices when...
Iran's Marjan Petrochem Company Exports 1st Methanol Cargo
The first 20,000 ton methanol consignment produced by Marjan...
Foreign Firms to Invest in Mazandaran DGs Power Projects
Foreign companies have signed contracts to invest in small...
Russian Expert: Collaboration With Oil Majors Could  Help Iran Enhance Energy Output
Iran has proved that it has great potential for investment...