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Iran's August Crude Exports to S Korea Up 112.3%


Tasnim
24 Sep 2016

TEHRAN (Tasnim) - South Korea's crude oil imports from Iran witnessed a major leap in August compared to the same period last year, a report said.

South Korea's crude oil imports from Iran rose 112.3 percent in August from a year earlier, while its total crude oil imports fell 2.9 percent year on year to 86.1 million barrels last month, data from state-run Korea National Oil Corp (KNOC) showed on Friday, Reuters reported.

The report added that over January-August, South Korea imported 94.56 million tons of crude, or 2.84 million bpd, versus 91.88 million tons a year ago.

The rise in South Korea's oil imports from Iran follows the lifting of anti-Iran sanctions with the coming into force of a lasting nuclear deal between Tehran and world powers.

Iran and the Group 51 (Russia, China, the US, Britain, France and Germany) reached the agreement in July 2015 and started implementing it on January 16.

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