Asian imports of Iranian oil rise 58%

Asian imports of Iranian oil rise 58%
Imports of Iranian crude by its four main buyers in Asia rose about 58 percent in February against the figure from a year ago when Western sanctions on Tehran had only just been lifted.

According to government and ship-tracking data, Iran's top four Asian buyers — China, India, South Korea and Japan — imported 2.01 million barrels per day (mbd) in February, the highest volumes since at least 2010, International Energy Agency data showed, Reuters reported.
Iran was exempted from an OPEC deal to reduce output by 1.2 mbd starting January 1, a victory for Tehran which has argued it needs to regain the market share it lost under Western sanctions over its nuclear program.
Japan's Trade Ministry on Friday released official data showing its Iranian imports came to 230,297 bpd last month.
Japan likely skipped Iran crude loading this month as buyers waited for the government to extend sovereign ship insurance in the new fiscal year that starts in April.
In November 2016, France's Total became the first oil major to sign a big deal with Tehran since the lifting of sanctions and agreed to help it develop the world's largest gas field, South Pars.
Shell signed a provisional deal in December to develop Iranian oil and gas fields South Azadegan, Yadavaran and Kish in December 2016.


Apr 3, 2017 11:03

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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.