Iran’s exports steady as US targets oil revenues
Iran exported 2.25 million barrels per day (bpd) of crude oil to customers in Asia and Europe in September, data released by the Ministry of Petroleum showed on Saturday.
The country also shipped 430,000 bpd of condensate to its clients in Asia where South Korea alone took half of the cargoes of the superlight form of crude, it added.
China and India remained the prime recipients of crude from Iran, lifting more than 1 million bpd combined, despite reports that New Delhi was cutting purchases from the Islamic Republic.
The ministry figures did not give a breakdown of how much oil each country bought from Iran.
India bought an average of 450,000 bpd of Iranian oil between the beginning of 2017 to the end of August. Indian oil imports from Iran hit a record high in July, when the country’s refineries purchased 500,000 barrels a day.
US energy dominance agenda
Refineries in India are reported to have been told to cut imports from Iran in possible retaliation for Tehran not awarding a gas field development to Indian companies. However, Saturday's figures showed the purchases are rather steady.
On Thursday, US Energy Secretary Rick Perry announced that the first-ever cargo of US crude oil had arrived in India as part of President Donald Trump's energy dominance agenda.
US Interior Secretary Ryan Zinke said last week the agenda would consider using US oil to supplant Iran's oil wealth. US "economic leverage," he said, would work to "supplant every drop of crude that Iran produces ... and energy dominance is part of that."
