Asia taking lion’s share of Iranian oil exports

PARIS — Iran, which on Monday said it planned to halt oil sales to several more European Union states in addition to Britain and France, sends only around a fifth of its exports to the EU, with Asian countries taking the lion’s share, according to US and international oil agencies.

By (AFP)

Published: Mon 20 Feb 2012, 9:53 PM

Last updated: Tue 7 Apr 2015, 11:18 AM

The Energy Information Administration (EIA) in Washington says that in 2010 four Asian states took around two-thirds of all the crude oil exported by the Islamic Republic, with China buying 20 percent, Japan 17 percent, India 16 percent and South Korea 9 percent.

A separate body, the International Energy Agency (IEA), reported meanwhile that just over 20 percent of Iran’s crude exports in the first 10 months of 2011 went to European Union states, mainly in southern Europe.

The EU’s share of Iranian sales came to around 600,000 barrels a day over the period, out of total exports of 2.5 million barrels a day, the agency said.

It said the main takers of Iranian crude in the EU were Italy, which imported 185,000 barrels a day over the period, Spain (161,000 bpd), and Greece (103,000 bpd).

The three countries accounted for 75 percent of all Iran’s exports to EU states; Iranian oil provided 13 percent of Italy’s oil consumption, 12 percent of Spain’s and 30 percent of Greece’s, according to IEA figures.

Iran said Germany, the Netherlands and Portugal could also be affected by the move.

France took only 58,000 bpd of Iranian crude, or 3.0 percent of its needs, over the period, the IEA said.

As for Britain, which along with France was the first country to which Iran said it was halting supplies, it is believed to be importing no Iranian oil at all.

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