S. Korea Iran Crude Imports Up 15%
S. Korea Iran Crude Imports Up 15%

S. Korea Iran Crude Imports Up 15%

S. Korea Iran Crude Imports Up 15%

South Korea’s imports of Iranian crude rose around 15% in July from a month earlier.
South Korea shipped in 788,651 ton of crude oil from Iran last month, or 186,478 barrels per day, customs office data showed on Wednesday, up from 686,849 tons in June, Reuters reported.
However, the East Asian country's intake of Iranian crude oil in July showed a 43.5% from the corresponding period of a year earlier, which was down from around 1.4 million tons in July 2017.
South Korean refiners started cutting their Iranian crude purchases after the reimposition of sanctions by the United States was announced in May. Initial sanctions, including on Iranian access to the US banking system, went into effect on Aug. 6, with sanctions blocking companies from buying Iranian crude starting in November. South Korean refiners did not plan to load any Iranian crude in July amid pressure from their government and the United States to comply with the sanctions, which should cut imports for August based on shipping times, sources said last month.
The South Korean government has been seeking waivers to the sanctions from the US government.
In the first seven months of the year, South Korea’s Iranian crude imports declined to 6.92 million tons, or 239,317 bpd. That was down 35.1% from 10.67 million tons over the same period in 2017, according to the customs data. In total, South Korea, the world’s fifth-largest crude oil importer, shipped in 12.89 million tons of crude in July, or 3.05 million bpd, up 3.6% from 12.44 million tons a year earlier.


Short URL : https://goo.gl/PBLYwF
  1. https://goo.gl/RGQhex
  • https://goo.gl/C8ygj8
  • https://goo.gl/wn7edh
  • https://goo.gl/7NYnEX
  • https://goo.gl/Vu6Da2

You can also read ...

Canada to Boost Support for Renewable Energy
Millions of dollars in subsidies for a Nova Scotia tidal...
The field has cumulatively produced about 15 million cubic meters of gas and 31.4 million barrels of oil and condensate.
India’s Reliance Industries has shut down an oil and gas field...
Iran's LPG Exports Fall to 356,000 Million Tons
Iran's LPG shipments loaded, or due for lifting, in September...
Saudis, Russia Planning to  Replace Iran Oil Market Share
The joint OPEC and non-OPEC ministerial committee, aka JMMC,...
Emirati Oil Company Hoarding Jet Fuel
Emirates National Oil Company has begun storing jet fuel on...
OPEC,  Non-OPEC Aug. Compliance  at 129%
An OPEC and non-OPEC monitoring committee found that oil...
$30 Million for Mazandaran Gas Expansion  Scheme
Over 4.56 trillion rials ($30 million) have been allocated to...

Add new comment

Read our comment policy before posting your viewpoints