Iran's oil export to Asia rises up more than 90 percent

EghtesadOnline: Iran's oil export to Asian countries in October rose up 92 percent in comparison with the preceding period last year.

News ID: ۷۷۰۷۶۰

29 October 2016

Removal of sanctions on Iran and efforts of Petroleum Ministry to regain the Iranian market share led to get closer to Iranian share of Asian market before the sanctions.

During sanctions, Iran could sell maximum one million barrels a day to its customers, but now it allocated more than 2.5 million bpd crude oil for export and the Asian countries are still major customers, reports IRNA.

According to the latest statistics, destination of 63 percent of Iran's oil is Asian states, which are the big hub for oil consumption in the world.

Iran's share of Asian market is more than 1.6 million bpd and Japanese oil firm 'Marubeni' is one of Iranian traditional oil customers.