Iran’s export of oil to South Korea more than double

EghtesadOnline: Iran’s export of oil to South Korea has reached more than double in the first nine months of 2016.

News ID: ۷۳۷۸۸۶

06 November 2016

According to the South Korean official reports, the country’s import of oil from Iran has doubled in the first nine months of the current year, which is mostly due to the Joint Comprehensive Plan of Action and consequently removal of international sanctions.

The reports suggest that export of Iranian crude oil totaled 78 million barrels during the above mentioned period, compared with 33.63 million barrels the same time last year, according to ISNA.

Iran’s export of crude oil just in September reached 12.15 million barrels, worth $526 million, which shows 72.3 percent increase compared to the same time last year.

Iran, a country which holds the world’s fourth-largest oil reserves and the second-largest gas reserves is one of the major exporters of crude oil to South Korea.