South Korea Feb. Iran crude oil imports over 1m tons

South Korea Feb. Iran crude oil imports over 1m tons
South Korea brought in 1,064,337 tons of Iranian crude oil in February, or 269,020 barrels per day (bpd), almost two times higher than 557,174 tons imported a year earlier, the data showed.

In the first two months of the year, the world's fifth largest crude oil importer brought 1,923,560 tons, or 486,196 bpd, of crude from the Middle Eastern country, versus 830,800 tons in the same period in 2015, Reuters reported.

A global deal to freeze oil production could be signed in April and exclude Iran, which has the right to boost output after years of sanctions, Russian Energy Minister Alexander Novak said on Monday after talks in Iran.

South Korea plans to boost imports of Iranian oil, especially condensate, this year to meet growing demand after sanctions over the Islamic nation's nuclear program were lifted in January.

South Korea's crude oil import data usually includes condensate, without giving a breakdown.

Overall, South Korea imported 12.92 million tons of crude last month, or 3.26 million bpd. The total was 20 percent higher than the 10.74 million tons imported in February of 2015, the customs data showed.

Final data for last month's crude oil imports will be released by state-run Korea National Oil Corp. later this month.


Mar 16, 2016 13:58
Iran Daily |

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The section of oil, gas and petro-chemistry is the up-most and first industrial vantage of the country and the pivot of the Economy of Iran. Regarding the importance of this section and the need for coordinating and organizing the most active people in the field of production and exporting oil ,gas, and petrochemical products ,some forethoughtful and job- makers in the private section of the country decided to come together to fight against the threats by using the opportunity of mass intelligence and potentials.