S Korea’s Oil Imports from Iran Surge

South Korea’s oil imports from Iran witnessed a 4.5 percent rise in the second quarter of 2016 compared to the same period last year, South Korean energy ministry said Wednesday.

South Korean refiners shipped in 266.4 million barrels of crude oil in the second quarter, or 2.93 million barrels per day (bpd), versus 255 million barrels in the same period in 2015, the ministry in a statement on Wednesday, Reuters reported.

The world’s fifth-largest crude importer has continued to buy more crude oil from Iran since anti-Tehran sanctions were lifted in January.

Shipments of Iranian crude more than doubled to 7.22 million tons, or 248,616 bpd, in the January-July period of 2016 from a year earlier, according to its customs office data.

(Source: Tasnim, under Creative Commons licence)

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