Iran’s Oil Exports to Asia, Europe Rise in July: Report
TEHRAN (Tasnim) – Iran’s oil exports to Asia and Europe in July increased by 45,000 barrels per day (bpd) compared to a month before, a report said.
In July, Iran exported 2.2 million barrels of oil per day to the Asian and European markets, according to the report by Shana news agency on Tuesday.
In the meantime, imports of Iranian crude by major buyers in Asia fell for a second month in a row to a 14-month low in June, weighed down by sluggish purchases by China and Japan.
China, India, South Korea and Japan together imported 1.46 million barrels per day (bpd) last month, down 15.2 percent on a year ago and the lowest amount since 1.32 million bpd in April last year, government and ship-tracking data showed.
Iran sits on the world’s fourth-largest oil and second-largest gas reserves, and is among the world’s top 10 oil and top five natural gas producers.
During the years of sanctions, Japan, India, and South Korea continued to import crude from Iran, though at limited volumes, under a preliminary nuclear agreement.
The sanctions were lifted after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached an agreement on Iran’s peaceful nuclear program and started implementing it on January 16.
