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Iran’s Aug oil exports to Asia surge 81% on year

by ChemOrbis Editorial Team -
  • 30/09/2016 (11:17)
According to media reports, Iran’s oil exports to Asia surged 81% in August from a year earlier and posted the biggest gain since April 2014 for the reason that Iran has started to regain its market share following the removal of the sanctions in January.

Government and ship-tracking data showed that imports in total by China, India, Japan and South Korea posted the highest figure in the last 5 and a half years to reach 1.84 million barrels per day (bpd) in August on a yearly basis.

According to the official data released by Japan’s trade ministry, Japan’s imports increased 31.4% from the last year to reach about 235,612 bpd in August. India’s August imports also rose almost threefold with a 189.6% increase from last year, reaching the highest level for the last 15 years at 575,900 bpd while Chinese imports climbed 48.4% in August compared to the last year.

In addition to that, South Korea imported about 277,613 bpd in August which almost doubled from the same month of last year.

Meanwhile, Iran’s total exports of crude oil to Asia reached 1,495,307 bpd in January to August, up 419,000 bpd compared with the same period of 2015.
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