South Korea’s imports of Iranian crude tumble by 6.5 percent in the month of April from a year ago, in the initial four months of 2015 the oil shipments from the OPEC country decreased as close as 14 percent year-on-year to match the standards of international sanction requirements.
Well, South Korea and other Asian buyers are permitted to import crude form the Islamic nation at sanctions-reduced rates nearly at the end of 2013, whereas, the United States and five other countries are experiencing a deadline of June 30, to finalise deal with Iran to restrict its nuclear programme.
Last month, Seoul imported 516,918 tonnes of crude oil from Tehran, or 126,300 barrels per day (bpd), as compared to 552,884 tonnes, or 135,088 bpd, a year ago, initial customs data by the world’s fifth-largest crude oil importer was displayed on Friday.
As compared to 2.2 million tonnes, or 135,982 bpd last year, South Korea imported 1.9 million tonnes/117,161 bpd, of crude from the Middle Eastern country in the period between January and April in the current year.
In the year 2014 South Korean crude shipments from Iran were 6.2 million tonnes or 124,497 bpd, which was slashed to 7.1 percent as seen in the year 2013 average of 134,000 bpd, the reports are as per the data gathered and Reuters calculations in the month of January.
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