Baku, Azerbaijan, Nov. 7
By Fatih Karimov – Trend:
Over 37 percent of Iran’s crude oil and condensate exports were shipped to European refineries in October 2017, the country’s oil ministry said Nov. 7.
The report does not unveil the exact amount of oil exported to the European markets, however giants like Shell, Total, Eni, Saras, Repsol, MOL and Hellenic Petroleum are among Iran’s major European customers, said the ministry report.
Asian markets shared 63 percent of Iran’s overall oil exports in October. China was the main consumer of the Iranian oil with over 600,000 barrels per day (b/d), according to the report.
Iran’s average crude oil and condensate exports amounted to 2.65 million barrels per day (mb/d) in the first eight months of current year.
The Islamic Republic exported 2.15 mb/d of crude oil and 500,000 b/d of gas condensate in January-September 2017, according to the report.
Iran was exporting 2.5 mb/d of crude oil and gas condensate before sanctions were imposed in 2012, of which 18 percent was supplied to the EU.
After 2012, the EU cut Iran oil purchase and Asian countries had to decrease Iranian oil import gradually, which led to decreasing export of Iranian oil and gas condensate to 1.2 mb/d in 2015.
After elimination of sanctions in 2016, based on nuclear agreement, Iran resumed its oil exports.
