- Iranians holding Ashura mourning for Imam Hussein
- Third step: Iran officially informs EU of plan to expand nuclear R&D
- Iran expands nuclear R&D program: Rouhani
- Iran goes ahead in space tech, despite US sanctions: ISA
- Resistance Front undermining Israeli regime power: Top commander
- Iran: 7 crew members of detained UK ship freed
- US addiction to sanction threaten its power: Iran’s Zarif
- Dutch role in 2007 Stuxnet attack on Iran’s nuclear site under scrutiny: Iraian FM Spox.
- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
- Shiraz University ranked 1st in liver transplantation: Iranian health official
- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
- Over half of Japanese voters oppose joining US-led anti-Iran coalition in Persian Gulf: Poll
- IME trade ups by 21 percent in July
- Finland backs INSTEX in defiance of US
- US anti-Iran policy in high seas harms Europeans: LA Times
- Iran, China confer on Syria
- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
- Iran’s annual export of white meat tops 2.5m tons: Minister
- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
- Iran, Ansarullah, European representatives Yemen developments
- ‘Iran to become self-sufficient in producing aircraft engines'
- US issues seizure warrant for Iranian supertanker 'Grace 1'
- Neanderthal tooth unearthed near Iran’s Zagros mountain
- Iran’s Zarif due in Kuwait on Saturday
- US faces humiliating defeat after Gibraltar releases Iranian tanker: Envoy
- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
- Zarif reacts to release of Iranian tanker in Gibraltar
- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
- Enemies must factor Iran's global power in their calculations: IRGC's chief commander
- Trump’s administration conflicting messages to Iran baffle go-betweens: Report
- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, March 15, YJC - South Korean crude imports from Iran jumped nearly 54 percent in February from a year ago as Tehran continues to ramp up output after sanctions were removed early in 2016.
TEHRAN, Young Journalists Club (YJC) - The jump comes at a time when the Organization of the Petroleum Exporting Countries (OPEC) and some other producers have pledged to rein in output to fight a global glut in oil supply.
South Korea, one of Iran's main oil customers, in February imported 1.63 million tons of Iranian crude, or 427,800 barrels per day (bpd), up from 1.06 million tons a year ago and 1.79 million tons the previous month, customs data showed on Wednesday.
Iran's crude oil exports reached a record 3 million bpd in late February to late March, the country's oil minister said early this month.
Meanwhile, South Korea's intake of Saudi Arabian crude, fell 3.1 percent to 3.61 million tons, or 944,793 bpd, last month from a year ago as the world's top oil exporter complies with the OPEC deal to curb supply.
OPEC and other major oil producers agreed to cut output last year by almost 1.8 million bpd in the first half of 2017. Iran was exempted from the supply cut deal.
OPEC's compliance with an oil output cut exceeded a target, standing at 140 percent in February, whereas non-OPEC members compliance was 50-60 percent, Kuwait Oil Minister Essam Al-Marzouq said previously.
Overall, Asia's fourth-largest economy imported 11.85 million tons of crude oil in February this year, or 3.1 million bpd, down 8.3 percent from 12.92 million tons a year ago, according to the customs data.
South Korea shipped in 24.3 million tons of crude in the January-February period, or 3.01 million bpd, up 1.9 percent from nearly 23.8 million tons a year earlier.
Final data for the country's February crude oil imports will be released by state-run Korea National Oil Corp (KNOC) later this month.
Your Comment