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Iran’s Oil Exports Decline To Below 200,000 Barrels p/d In August

Iran’s Oil Exports Decline To Below 200,000 Barrels p/d In August

Figures received by Radio Farda from Kpler, a data intelligence firm show Iran’s oil exports in August declined to 160,000 barrels per day, versus 365,000 in July.

Last year in August Iran exported around two million bpd; before the United States imposed oil sanctions in November.

Kpler’s figures indicate Iran exported 22 thousand bpd to Turkey, 33 thousand to Syria and 105 thousand to China during August.

Until the beginning of May Iran was exporting around one million bpd, when the U.S. tightened its sanctions, eliminating all exemptions it had offered to a handful of countries.

The U.S. announced on Wednesday, September 4 that it will not grant any waivers or exemptions to customers of Iranian oil, leaving any possible importer and those assisting shipping, insurance or banking exposed to U.S. sanctions.

Figures published by China’s customs show the country imported 233,000 bpd from Iran between May-July, but the August figures have not been published yet.

It is not clear if China pays cash for this relatively small quantity of crude or the money goes to pay off Iranian debts to two Chinese companies, SINOPEC and CNPC that have investments in Iran and financial claims.

Iran is the only country supplying oil to Syria, which is under both U.S. and European Union sanctions.

Other ship-tracking firms report that currently three Iranian tankers with a total of three million barrels of oil are near the Syrian coast.