Asia’s May Iran oil imports jump 34.5 pct

Jul 02, 2016 12:00 AM

Imports of Iranian oil by four major buyers in Asia in May jumped 34.5 percent from a year ago to the highest in at least 4-1/2 years, reflecting Tehran’s aggressive moves to recoup market share lost under international sanctions.

The four countries, South Korea, Japan, China and India, imported 1.62 million barrels per day (bpd) in May, government and ship-tracking data showed.

Japan’s trade ministry on Thursday released official data showing imports of 307,691 bpd from Iran in May, the highest since January 2012, before sanctions kicked in.

The following tables show Asia’s Iran crude imports in bpd for last month and the year to date.

Country       May-16       May-15    yr/yr pct
   China     619,300      518,400          19.5
   India     379,200      368,000           3.0
   Japan     307,691      190,924          61.2
   Korea     316,839      129,000         145.6
   Total   1,623,030    1,206,324          34.5
  
 Country  Jan-May 2016  Jan-May 2015  yr/yr pct
   China      565,167       573,100        -1.4
   India      334,100       203,100        64.5
   Japan      192,181       188,649         1.9
   Korea      261,743       119,417       119.2
   Total    1,353,191     1,084,266        24.8

 

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