Asian im­ports of Ira­nian oil hit high­est in six months

Chemical Industry Digest - - News & Views -

Im­ports

of Ira­nian crude by ma­jor buy­ers in Asia rose in Septem­ber for a third straight month to their high­est since March, boosted by a surge in pur­chases in China and South Korea.

China, In­dia, South Korea and Ja­pan im­ported slightly more than 1.9 mil­lion bar­rels per day (bpd) last month, up 5.1 per­cent from a year ear­lier, gov­ern­ment and ship-track­ing data showed. Their im­ports rose nearly 20 per­cent from Au­gust.

Still, pur­chases from the Asian buy­ers re­main be­low highs that were hit ear­lier this year and last year as Tehran ramped up ex­ports fol­low­ing the lift­ing of eco­nomic sanc­tions, af­ter it had agreed to con­straints on its dis­puted nu­clear pro­gramme.

Im­ports by the Asian buy­ers, which take the bulk of Iran’s oil ex­ports, are likely to fall in com­ing weeks as ship­ments bound for the re­gion have dropped be­low 1.5 mil­lion bpd for Oc­to­ber.

Chi­nese im­ports from Iran in Septem­ber rose nearly 60 per­cent from a year ago to about 784,000 bpd, down from Au­gust when China im­ported the high­est monthly amount since 2006. South Korea’s im­ports rose by nearly a quar­ter to just over 504,000 bpd, a five-month high. In­dia’s im­ports fell by a third to 415,400 bpd. Im­ports to Ja­pan, which an­nounced of­fi­cial fig­ures, were down by more than 30 per­cent at a bit less than 216,000 bpd.

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