Iran’s oil export to EU triples in May
Baku, Azerbaijan, June 6
By Dalga Khatinoglu – Trend:
Iran’s oil and gas condensate export to Europe increased by 300 percent to 1 million barrels per day, Shana news agency reported June 6.
According to the report, the export volume to Asian clients also increased by 40 percent to 1.2 mb/d in May.
There is no international statistics about Iran’s May exports, but according to Reuters calculation, Iran’s oil export to Asia was 1.62 mb/d in April of 2016.
In case if Shana’s statistics about May exports is precise, then Iran’s oil export to Asia plunged in May, compared to April.
Iran was exporting 2.5 mb/d of crude oil and gas condensate before the imposed sanctions in 2012, of which 18 percent was supplied to the EU.
After 2012, the EU cut Iran oil purchase and Asian countries had to decrease Iranian oil import gradually, which led to decreasing Iranian oil and gas condensate export to 1.2 mb/d in 2015.
After elimination of sanctions, based on nuclear agreement, Iran resumed its oil exports.
The report said that India imported 0.5 mb/d Iranian oil in May.
The statistics indicate that India decreased oil purchase from Iran in May, compared to April. According to Reuters, Iran exported 535,100 b/d of oil to India in April and the average export during January-April was 563,800 b/d.
Iran’s average crude oil export to Asian clients including India, China, Japan and South Korea was 1,809,907 b/d during four months of 2017.
Iran produces 600,000 b/d of gas condensate, of which about two third is exported. The country’s crude oil production also stands at 3.8 mb/d, of which 1.7 mb/d is consumed domestically and the rest is exported.