36453
Seoul’s Iran Oil Imports Triple
Energy

Seoul’s Iran Oil Imports Triple

South Korea's imports of Iranian crude oil tripled in January from a year earlier with the United States lifting sanctions on Tehran, but shipments remain far below pre-sanctions levels, customs data showed on Monday.
The world's fifth-largest crude importer brought 859,223 tons of Iranian crude oil last month, or 203,165 barrels per day, three times higher than 273,626 tons imported a year earlier, the data showed.
That marks the highest imports for January since 2012 when South Korea shipped in 975,967 tons, the data showed. The country, along with other major Iranian crude buyers, had to slash Iranian crude imports from mid-2012, Reuters reported.
Iran is exporting 1.3 million bpd of crude oil and will be pumping 1.5 million bpd by the start of the next Iranian year on March 20, according to a statement by First Vice President Es'haq Jahangiri.
Under sanctions, South Korea and other major Iranian crude buyers were required to ship in no more crude than levels imported in 2014.
Seoul bought 5.7 million tons, or 114,595 bpd, of crude from Tehran last year, down 8% year-on-year, according to the customs data and Reuters calculations last month.
Overall, South Korea imported 10.84 million tons of crude in January, or 2.56 million bpd. That was 4.6% lower than the 11.37 million tons imported a year earlier, according to the customs data.
Final data for last month's crude oil imports will be released by state-run Korea National Oil Corp later this month.

 

Short URL : http://goo.gl/upH8Is
  1. http://goo.gl/99QwRh
  • http://goo.gl/VS4pVk
  • http://goo.gl/aUC5ca
  • http://goo.gl/iR10TY
  • http://goo.gl/d1HYsv

You can also read ...

Italy's Ansaldo Set to Produce Power From Iran's South Pars Gas Flares
Italy's Ansaldo Energia signed a memorandum of understanding...
Norway’s Saga Signs $2.9b Iran Solar Power Venture
Norway’s Saga Energy signed a €2.5 billion ($2.94 billion)...
French, German Groups Ink Water Agreements
French and German groups on Wednesday signed broad-ranging...
Iraq Asks BP to Develop Kirkuk Fields
Iraqi Oil Minister Jabar al-Luaibi has asked BP to "quickly...
Total Says Will Try to Move Ahead With Iran Gas Project
French oil and gas major Total will try to push ahead with its...
Tashkent Eyes Iran Oil Import, Mulls Transport Options
Uzbekistan is willing to join the list of Iran's crude oil...
Brent, WTI Prices Pick Up
Oil prices rose on Wednesday as weekly US crude inventories...

Trending

Googleplus