01-11-2016

Asia’s Sept imports of Iranian oil rise 73 pct from year ago

irano

Imports of crude oil by Iran’s four major buyers in Asia in September jumped more than 70 percent from a year ago as the producer continued to recoup market share lost under sanctions.

Iran’s top four Asian buyers, China, Japan, India and South Korea, imported nearly 1.8 million barrels per day (bpd) in September, government and ship-tracking data showed. That is down from the highest level in at least 5-1/2 years in August.

But oil-purchase arrivals could rise again in October, with Asian buyers loading 1.83 million bpd of crude oil and condensate this month and about 1.96 million bpd in September, according to a source with knowledge of Iran’s tanker schedules.

Economic sanctions targeting the OPEC member’s disputed nuclear programme were lifted in January. Tehran has been battling to raise its output and export levels since then back to where they were before toughened sanctions went into force in early 2012.

Japan’s trade ministry on Monday released official data showing its imports rose 80 percent from a year earlier to nearly 313,000 bpd in September.

India’s imports more than doubled from a year earlier to 552,200 bpd, down from 575,900 bpd in August, the highest in at least 15 years.

Imports by South Korea also more than doubled, while Chinese imports were up by 18 percent.

The following tables show Asia’s Iran crude imports in bpd for last month and the year to date.

 Nation           Sep-16         Sep-15  yr/yr pct
 China           492,500        416,450       18.3
 India           552,200        233,200      136.8
 Japan           312,825        173,971       79.8
 Korea           405,833        196,967      106.0
 Total         1,763,358      1,020,588       72.8
    
 Country   Jan-Sept 2016  Jan-Sept 2015  yr/yr pct
 China           601,330        559,020        7.6
 India           411,900        216,200       90.5
 Japan           226,691        172,051       31.8
 Korea           284,697        123,209      131.1
 Total         1,524,618      1,070,480       42.4

Source: Reuters

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