Japan reveals data of its oil imports from Iran

Business Materials 30 April 2018 15:41 (UTC +04:00)

Baku, Azerbaijan, April 30

By Umid Niayesh - Trend:

Iran’s oil exports to Japan (including gas condensates) in March reached 6.1 million barrels, according to the Asian country’s official data.

Compared to the preceding month, the figure indicates a rise by 21 percent, Japan’s ministry of economy, trade and industry said.

Meanwhile, in comparison with March 2017, the exports registered a fall by 12.4 percent.

The figure includes 481,963 barrels of condensate exported from Iran’s South Pars gas field, which is 1 percent more compared to condensate exports to Japan in February. However, it is 80.2 percent less, while compared to March 2017.

Besides condensate, the Islamic Republic’s oil export to Japan includes 246,101.4 barrels of light oil, 3.456 million barrels of heavy oil.

Iran was Japan’s fifth oil supplier after Saudi Arabia, the UAE, Qatar and Kuwait with a share of 6 percent in March 2018, while the country supplied 7 percent of the Asian country’s oil demand in the same month of 2017.

Saudi Arabia exported 39.86 million barrels of oil to Japan in March 2018 (40 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.