Iran’s Oil Exports to South Korea Down by 9% in Oct.: Report

News ID: 1574714 Service: Economy
صادرات نفت سکوی خارک پالایشگاه نفتکش

TEHRAN (Tasnim) – Iran’s oil exports to South Korea witnessed a 9.5 percent decrease in October from the previous month, a report said.

South Korea imported 1.65 million tons of Iranian crude in October, or 390,675 barrels per day (bpd), customs data showed on Wednesday, Reuters reported.

That is a 9.5-percent decline from 1.83 million tons in September, but still up nearly 83 percent from last year.

Iran is South Korea’s main supplier of ultra-light oil, also known as condensate, but the data does not provide a breakdown of imports.

The drop in Iran’s oil exports to South Korea comes amid ongoing efforts by the country to ramp up its oil output since anti-Tehran sanctions were lifted last year in a bid to recoup its lost market share.

Over January-October this year, oil shipments from Iran jumped 46.5 percent to about 15.7 million tons, or 378,447 bpd, versus 10.72 million tons during the same period a year ago, according to the customs data.

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