Leap in Iran Light Crude Export

Leap in Light Crude ExportLeap in Light Crude Export

Crude oil exports from the Kharg Oil Terminal in the Persian Gulf stood close to 780 million barrels in the fiscal year that ended in March 2016, or around 2.1 million barrels daily, managing director of Iran Oil Terminals Company (IOTC) said on Tuesday.

"Of the total volume of exports, light crude accounted for 240 million barrels, indicating a 87% rise in comparison to the corresponding period a year ago,"

Seyyed Pirouz Mousavi was quoted as saying by ISNA. "Iran's light oil grade supplies play an important role in boosting overall exports," Mousavi noted.

According to the official, close to 800 oil tankers berthed at the Kharg terminal in fiscal 2016-17, up from 540 tankers in the previous year. Pointing to the heavy tanker traffic in the southern oil ports and terminals, Mousavi said most vessels belong to European oil majors, namely France's Total, Italy's Eni, Russia's Lukoil as well as Asian buyers including China, Japan, South Korea and the UAE.


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