Iran’s condensate exports to Japan soar

Business Materials 1 March 2018 11:27 (UTC +04:00)

Baku, Azerbaijan, March 1‎

By Gazenfer Hamidov – Trend:

Iran’s oil exports to Japan (including gas condensates) in January reached 6.3 million barrels, according to the official data.

Compared to the preceding month, the figure indicates a fall by 7.1 percent, Japan’s ministry of economy, trade and industry said in a statement.

Compared to January 2017, the exports registered a fall by 2.9 percent.

The figure includes 981,424 barrels of condensates exported from Iran’s South Pars gas field, which is 107 percent more compared to condensate exports to Japan in December 2017. However, it is 60.3 percent less, while compared to January 2017.

Besides condensates the Islamic Republic’s oil exports to Japan includes 898,493.2 barrels of light oil, 3.3 million barrels of heavy oil and 1.12 million barrels from Forozan-B oil field.

Iran was Japan’s fifth oil supplier after Saudi Arabia, the UAE, Kuwait and Qatar with a share of 5.9 percent in January 2018, while the country supplied 6 percent of the Asian country’s oil demand in January 2017 (6.489 million barrels).

The Islamic Republic supplied 6.2 percent of Japan’s oil demand in December 2017.

Saudi Arabia exported 38 million barrels of oil to Japan in January 2018 (35.8 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.