South Korea’s Iran crude oil imports drop 62.2 percent year-on-year in December

15 Jan 2016   Iran, South Korea

South Korea’s crude oil shipments from Iran slid 62.2 percent in December from a year ago, with imports in full-year 2015 falling 8.0 percent from 2014 in accordance with sanction requirements over Tehran’s nuclear program. The world’s fifth-largest crude importer brought 207,629 tonnes of Iranian crude in December, or 49,094 barrels per day (bpd), compared with 548,598 tonnes a year ago, preliminary data from its customs office showed on Friday. South Korea along with other major Iranian crude buyers should import the crude no more than the level imported in 2014 under the sanctions imposed on Tehran against its nuclear program. The United Nations’ nuclear watchdog is likely to confirm on Friday that Iran has curtailed its nuclear program as agreed with world powers, paving the […]

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