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FACTBOX: Imports by Iran's Crude Oil Buyers

Published: 28th November 2013 12:34 PM  |   Last Updated: 28th November 2013 12:57 PM   |  A+A-

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Iran and six world powers clinched a deal to curb the Iranian nuclear programme in exchange for initial sanctions relief, signalling the start of a game-changing rapprochement that would reduce the risk of a wider Middle East war.

The deal halts Iran's most sensitive nuclear activity and suspends some sanctions by the West, but caps exports from the country at the current level of about 1 million barrels per day (bpd) for the next six months.

Here are imports as reported by China, South Korea and Japan. India's figures are calculated by Reuters based on data from trade sources.

Also given are 2011 and 2012 term crude contract volumes that Iran had agreed with its major buyers and oil exports to Turkey. Volumes are in thousand barrels per day.

     Asia's buying of Iran crude in first nine months of 2013

                        2013          2012

                       Jan-Oct      Jan-Oct    Pct Change

 China               410          424.4        -3.3

 Japan*             194.9       191.2        +2

 India                 193.9       328.4       -41

 South Korea     132.6       146          -9.2

 *(Japan's numbers are for Jan-Sep)                   

 

 Asia's buying of Iran crude in 2012

                        2012          2011

                        Jan-Dec    Jan-Dec   Pct change

 China                438         555         -21 

 Japan               189          313         -40

 India                  315         321         -1.7

 South Korea      153         239         -36

     Total:          1,096      1,428         -23

             

 Iran's term contracts with top Asian buyers

 CUSTOMER                 VOLUME          

                                      2012     2011                  

 CHINA
 Zhuhai Zhenrong          205       240

 Unipec                          230       270 

 Chinaoil                            8           8                  

 

 JAPAN
 JX Nippon Oil                   83        93  

 Showa Shell                    NA       100 

 Toyota Tsusho                 45        50  

 Cosmo Oil                         20        40 

 Mitsubishi Corp                18        20 

 Idemitsu Kosan                   7         8 

 Marubeni                         NA        10 

 Mitsui & Co                         0        10 

 

 INDIA
 MRPL                              NA       142 

 Essar Oil                        100       100 

 HPCL                               60        70 

 BPCL                               10        20

 IOC                                  NA        30

 

S KOREA
 SK Energy                     130       120 

 Hyundai Oilbank              70         70

       

 Iran's Oil Exports to Europe, South Africa:
(in thousands barrels/day based on industry and Reuters estimates)  

  Customer            Country       2013    H2'2012      2011  

  Tupras                Turkey        100       124            200  

  South Africa                               0        100

Indian refiners are ready to start transferring cash owed for Iranian oil as early as next week following a landmark deal to curb Tehran's nuclear programme that allows importers to shift billions of dollars back to Iran.



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