Iran fighting its way up Japan’s oil providers ranking
Tehran, Iran, Aug. 12
By Mehdi Sepahvand – Trend:
After increasing its oil export thanks to the nuclear deal, Iran has replaced Kuwait in the Japanese oil market and is fighting for the third place, now in possession of Qatar, in selling the most of oil to Japanese refineries.
Iran’s oil export to Japan in June jumped by 300 percent to hit a new record, Mehr news agency reported Aug. 12.
This June Iran exported 275,000 barrels of crude, taking over such Arab countries as Kuwait and Iraq.
Japan imported 3.13 million barrels of oil in June. Saudi Arabia provided 1.013 million barrels of the amount as Japan’s top crude source.
Saudi Arabia was followed by the UAE and Qatar with 826,000 and 306,000 barrels a day of export to the East Asian country, respectively.
Iran’s share of the Japanese oil market stood at 8.8 percent for June.
Under sanctions, which extended into early 2016, Iran’s oil export dropped from 2.3 to 1 million barrels a day.
Now, thanks to removal of the sanctions due to Iran’s nuclear deal, the country’s oil export has surpassed 2 million barrels a day.