Iran’s oil exports to Japan increases in Dec.

Business Materials 31 January 2018 14:33 (UTC +04:00)

Baku, Azerbaijan, Jan. 31‎

By Fatih Karimov – Trend:

Iran’s oil exports to Japan (including gas condensates) in December 2017 decreased by 11.2 percent year-on-year and reached ‎‎6.781‎‎‎ million barrels.

Compared to the preceding month, the figure indicates a rise by 17 percent, Japan’s ministry of economy, trade and industry said.

The figure includes 472,710 barrels of condensates exported from Iran’s South Pars gas field, as well as 261,196.9 barrels of light oil, 4.14 million barrels of heavy oil and 1.91 million barrels from Forozn-B oil field.

Iran was Japan’s fifth oil supplier after Saudi Arabia, the UAE, Qatar and Kuwait, with a share of 6.2 percent in December 2017, while the country supplied 6.8 percent of the Asian country’s oil demand in December 2016 (7.63 million barrels).

The Islamic Republic supplied 5.8 percent of Japan’s oil demand in November 2017.

Saudi Arabia exported 43.9 million barrels of oil to Japan in December 2017 (40.1 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) in 2016 to 2.42 mb/d and the figure would increase to 2.59 mb/d in 2018, IMF previously said in a report.