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Home / Business / Asia May Oil imports in Iran reached an eight-month high

Asia May Oil imports in Iran reached an eight-month high



      * Asia May imported a total of 1.8 million bpd-govt, ship data
* India's imports rise 45 percent a year
* South Korean purchases drop 27 percent a year

By Aaron Sheldrick
TOKYO, June 29 (Reuters) - Imports of Iranian crude oil by
Major customers in Asia rose to their highest level in eight months in May
as the purchases face potential new sanctions against the
Middle Eastern data from nation, government and ship tracking showed.
China, India, Japan and South Korea have imported 1.8 in the past month
Million tons per day (bpd) from Iran, the data showed. The
was almost 15 percent higher than a year ago and most
since September.
Purchases of crude oil from Iran by the four countries could fall
End of the year after President Donald Trump last month
The US drew from a landmark agreement to contain Tehran
controversial nuclear program.
The US will repeal sanctions on Iran that have been lifted
after the agreement was agreed in July 201
5 and others demand Countries cut their trade relations with the Middle East country. These demands are beginning to be heard. India's Ministry of Oil has called on refineries to prepare for a "drastic reduction or zero" Imports of Iranian oil from November, two industry sources said Reuters. China's imports of Iranian crude increased by 5.3 percent in May just over 718.00 bpd from the previous year and are almost 10 Percent higher in the first five months of the year. India's imports from Iran have risen by nearly 45 percent since May in the past year to around 700,000 bpd and have increased by 6.4 percent Year to last month. South Korean purchases dropped 27 percent to nearly 194,000 bpd fell by more than a third over the year so far. Imports to Japan rose by 32 percent in May to around 210,000 bpd from a year earlier, but are 5 percent for the year, Data from the Ministry of Economy, Trade and Industry of the country showed on Friday. The following tables show Iran's crude imports in BPD to Asia biggest buyer for the last month and the year until today: Country May-18. May-17 year / year pct China 718,004 681,762 5.3 India 705,200 487,600 44.6 Japan 211,097 160,551 31.5 South Korea 193 774 265 516 -27.0 A total of 1,828,075 1,595,429 14.6 Country January-May 2018 January-May 2017 Year / Year pct China 656 276 600 597 9.3 India 583,500 548,200 6.4 Japan 164,986 172,974 -4.6 South Korea 294,801 444,185 -33.6 A total of 1,699,563 1,765,956 -3.8 (Reporting by Aaron Sheldrick, additional coverage by Osamu Tsukimori; Edited by Richard Pullin)

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