BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to: Latest news headlines Analytical topics and features Commodities videos, podcast & blogs Sample market prices & data Special reports Subscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber (https://pmc.platts.com), Please navigate to Platts Market Center to reset your password.

In this list
Oil

South Korea's Dec crude imports from Iran slump 29% on year

Energy | Natural Gas | LNG | Oil | Refined Products

Interview: Satvinder Singh, Enterprise Singapore

Oil

Platts Rigs and Drilling Analytical Report (RADAR)

Oil | Crude Oil

Platts Workshop at the S&P Global Platts Energy

Oil

Chinese independent refiners' crude imports to rise in Aug on lower maintenance

South Korea's Dec crude imports from Iran slump 29% on year

Highlights

Industry players, upstream and downstream markets, refineries, midstream transportation and financial reports

Supply and demand trends, government actions, exploration and technology

Daily futures summary

Weekly API statistics, and much more

South Korea's imports of Iranian crude oil in December slumped 29.4% to 4.036 million barrels, or 130,194 b/d, compared with 5.724 million barrels a year earlier, data released Wednesday by state-run Korea National Oil Corp showed.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

But the December volume was up 4.7% from imports of 3.853 million barrels in November, the data showed.

For the whole of 2013, South Korea imported 48.21 million barrels of Iranian crude, down 14.1% from the 56.15 million barrels it purchased in the previous year.

The US said Monday it had taken the necessary steps to pause efforts to further reduce Iranian crude oil exports by allowing the six current customers of Iranian oil to maintain their purchases at current levels for the duration of the Geneva agreement between Iran and world powers that came into effect Monday.


Washington in November pledged not to put pressure on China, India, Japan, South Korea, Turkey and Taiwan to cut their Iranian oil imports further as part of the Joint Plan of Action agreed with Iran in Geneva.

Meanwhile, South Korea's total crude oil imports in December slipped 6.9% year on year to 74.19 million barrels, or 2.39 million b/d, according to the KNOC data. This was also down 2.1% from imports of 75.81 million barrels in November.

South Korea imported a total of 915.08 million barrels, or 2.51 million b/d, of crude in the whole of 2013, down 3.4% from 947.29 million barrels in 2012. The country's oil consumption climbed 2.4% year on year to 75.05 million barrels, or 2.42 million b/d, in December. This was also up 5.1% from 71.39 million barrels in November.

South Korea consumed a total of 826.84 million barrels, or 2.27 million b/d, in 2013, down 0.1% from 827.68 million barrels in the previous year.

The country's refined product exports in December fell 15% year on year to 32.24 million barrels, or 1.04 million b/d, the data showed. This was also down 17.5% from November's 39.06 million barrels.

In 2013, its exports of oil products fell 2.6% to 429.22 million barrels, or 1.18 million b/d, compared with 440.90 million barrels in 2012.

--Charles Lee, newsdesk@platts.com
--Edited by Deepa Vijiyasingam, deepa.vijiyasingam@platts.com