Iran ensures 6% of Japan’s oil demand

Business Materials 30 December 2017 15:44 (UTC +04:00)

Baku, Azerbaijan, Dec. 30‎

By Fatih Karimov – Trend:

Iran’s oil exports to Japan (including gas condensates) in November 2017 decreased by 18.7 percent year-on-year and reached ‎‎5.79‎‎‎ million barrels.

Compared to the preceding month, the figure indicates a rise by 12.9 percent, Japan’s ministry of economy, trade and industry said.

The figure includes 489,787.5 barrels of condensates exported from Iran’s South Pars gas field.

Iran was Japan’s fifth oil supplier after Saudi Arabia, the UAE, Qatar and Kuwait, with a share of 5.8 percent in November 2017, while the country supplied 7.6 percent of the Asian country’s oil demand in November 2016 (7.13 million barrels).

Saudi Arabia exported 41.6 million barrels of oil to Japan in November (41.7 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 ensured 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.