Japan oil import from Iran revives by 94%

Baku, Azerbaijan, Nov. 4

By Fatih Karimov – Trend:

Iran’s oil exports to Japan (including gas condensates) in September 2017 decreased by 31 percent year-on-year and reached ‎6.467‎ million barrels.

Compared to the preceding month, the figure indicates an increase by 94 percent, Japan’s ministry of economy, trade and industry said.

The figure includes 1.003 million barrels of condensates exported from Iran’s South Pars gas field.

Iran was Japan’s fifth oil supplier after Saudi Arabia, the UAE, Kuwait and Qatar, with a share of 6.8 percent in September 2017, while the country supplied 9.7 percent of the Asian country’s oil demand in September 2016 (9.4 million barrels).

Saudi Arabia exported 35.379 million barrels of oil to Japan in September (37.2 percent of the country’s total crude imports.)

Iran’s oil exports to Japan reached 83.94 million barrels in the fiscal year of 2016, which is a 38-percent increase compared to the preceding year.

Iran supplied 7 percent of Japan’s oil demand in 2016.

Iran’s oil exports increased by 1 million barrels per day (mb/d) last year to 2.42 mb/d and the figure would increase to 2.5 mb/d in 2017 and 2.59 mb/d in 2018, IMF previously said in a report.

Iran’s oil and condensate exports amounted to 2.6 mb/d in September 2017, the country’s oil ministry said recently. The country exported 2.25 mb/d of oil to Asian and European markets in the mentioned period. China, India, South Korea and Japan imported more than 1.9 mb/d in September‎, highest level since March 2017.

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