Oil exports to Japan topped 5m barrels in Feb.
Domestic Economy Desk
Iran’s oil exports, which included gas condensate, to Japan in February reached 5.04 million barrels, according to official figures. Compared to the preceding month, the figure indicates a 20-percent decline, announced Japan’s Ministry of Economy, Trade and Industry in a statement, Trend News Agency reported.
Exports also registered a fall of 21.8 percent compared the amount for February 2017.
The figure includes 478,704.9 barrels of condensate exported from Iran’s South Pars Gas Field, which is 51 percent less compared to condensate exports to Japan in January. However, it is 67 percent less than the amount for February 2017.
In addition to condensate, Iran’s oil export to Japan includes 253,831.6 barrels of light oil, 2.91 million barrels of heavy oil.
Iran was Japan’s fifth biggest oil supplier after Saudi Arabia, the UAE, Kuwait and Qatar with a six-percent share in February 2018, while the country met 6.5 percent of the East Asian country’s oil demand in February 2017 (6.45 million).
The Islamic Republic met 5.9 percent of Japan’s oil demand in January 2018.
Saudi Arabia exported 34.83 million barrels of oil to Japan in February 2018 (41.5 percent of the country’s total crude imports).
Iran’s oil exports to Japan reached 83.94 million barrels in the fiscal year 2016, which indicates a 38-percent increase compared to the amount for the preceding year. Iran supplied seven percent of Japan’s oil demand in 2016. Iran’s oil exports increased by one million barrels per day (mbd) in 2016 to 2.42 mbd and the figure is to rise to 2.59 mbd in 2018, IMF said in an earlier report.