Iran to triple oil export to Japan
Baku, Azerbaijan, Oct. 17
By Umid Niayesh - Trend:
Iran plans to triple its crude oil export to Japan once the sanctions are lifted, Mohsen Ghamsari, executive director for International Affairs at the National Iranian Oil Company (NIOC) said.
Tehran's current crude oil exports to Japan stands at 110,000 barrels per day (bpd) which is planed to reach 350,000 bpd, Ghamsari said, the official IRNA news agency reported Oct. 17.
Japan has expressed interest to specify 10 percent of its total crude import to Iran, after sanctions removal, Ghamsari said, adding Tehran will increase its crude export to Japan by seven percent in short term after lifting the sanctions.
Japan's total crude oil imports accounts for 3.5 million barrels per day, he noted.
Tehran currently supplies three percent of Japan's crude demand after the UAE, Saudi Arabia, Russia, Qatar and Kuwait as top five crude suppliers to the country.
He further said that alongside with Japan, South Korea seems to be also among the first countries to increase their crude imports from Iran in the post-sanction period.
Ghamsari further said that price for Iran's crude oil for November is not set yet, adding Tehran will maintain its competitive price distance with Saudi Arabia.
Price of Iran's Light oil is still higher than that of Saudi Arabia, he added.
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