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Asian buyers take 62% of Iran’s 2017 crude exports

Asian buyers take 62% of Iran’s 2017 crude exports

TEHRAN: OPEC’s third largest producer, Iran, exported 62% of its crude oil in 2017 to buyers in the Asian market, mostly China and India, according to the country’s oil ministry news service, Shana.

Other importers included South Korea, Japan, Turkey, Italy, the UK, Hungary and the Netherlands. In total, Iranian crude oil exports reached 777 million barrels (MMBbl) last year, averaging some 2.13 million barrels per day (MMBPD), Kallanish Energy learns.

Gas condensate exports came to 180 MMBbl, or 490,000 BPD in the same period. The international sales slowed in recent months due to the commissioning of the Bandar Abbas Gas Condensate Refinery, in the Iran’s southern Hormozgan Province.

Shana said the average price paid for Iranian crude was $52 a barrel, but didn’t disclose data from the previous year for exports and prices.