Iran’s oil exports for the month of December are projected to be as
low as 824,000 barrels per day in December. Iran sold 1.08 million bpd in
November. Declining imports by China and India are the main reasons for the new
low volumes.
China’s imports this month are estimated at only 242,000 bpd, a new
low. In November, China purchased an estimated of 382,000 bpd. And in the
period of January-October, China’s imports averaged 426,000 bpd, a figure
already 22 percent lower than in 2011.
India’s loading for December is estimated at 119,400 bpd compared with 275,000 bpd in November. India’s Jan-Oct average was at 328,000 bpd.
Because of sanctions, China, India and South Korea are unable to secure
insurance for tankers carrying Iranian crude. They are asking Iran ship the
oil, but delivery has often been delayed as the Iranian fleet is stretched with
many tankers being used as floating storage for rapidly rising volume of unsold
crude. Japanese importers use their government guarantees to self-insure their
tankers.
Iran’s other major clients are South Korea and Japan. South Korea’s
imports in December are estimated at 200,000 bpd, in line with their purchases
this year, but half their volume in 2011. Japan will import 186,000 bpd in
December, an increase over November. Japan has cut imports each month in 2012 by
more than a quarter.
The total volume of imports by the four Asian countries in December is estimated
at 747,500 bpd, more than 30 percent lower than its average in the first 10
months of the year.
The U.S. is due to decide next week on whether to renew 180-day waivers
from sanctions for importers of Iranian oil that have progressively cut
purchases, at a suggested rate of 18 percent in each six-month period.
Photo credit: Iran’s Kharg Island Oil Export Terminal. (Getty Images)
Photo credit: Iran’s Kharg Island Oil Export Terminal. (Getty Images)
this is a great victory for Iran as they now have so much more crude oil that they can store until the scientists of Iran, the universe's most advanced, perfect means of turning the crude oil into sugar and meat.
ReplyDeleteyou must be a very sad man!.evidently, you are among a small group of haters whom when something positive is announced from IRAN YOU CATCH A RUNNING STOMACH!.WHY DO YOU HIT SCIENTISTS INSTEAD OF THE MULLAS,IRANIAN SCIENTISTS ARE NOT GOVERNING THE COUNTRY ,YOU LOOK SO DESPERATE!!.
DeleteGreat victory indeed!
ReplyDeleteWith such an advanced economy in Iran,thanks to the mullahs,Iran can export its advanced technologies to a desperate world.
Iran has no need of oil anymore and is willing to give it away to the Palestinians,Chinese and all the other free loaders.
We are "Independent" LOL!
which "advanced technologies" does Iran have to export that are not a couple of decades behind the modern world?
Deletewhat does Iran manufacture that isn't made much better elsewhere?
road-side anti-personnel bombs?
Anon 6:50 PM
DeleteIt was meant to be a joke!
Sarcasm aside, these are tough days for Iran’s oil industry. Unless the prices rise dramatically, which is not likely, as matter of fact they are expected to go further down in the next two months, then the NIOC should seriously think of cutting crude production significantly, or pray for a negotiated settlement with the U.S.
ReplyDeleteHi, its me Sir Putin.......just wanted to thank all my mullah friends for the great times!
ReplyDeleteHow sad and tragic it is that Iran has sunk to this level.
ReplyDeleteA country that was producing six million barrels a day has been reduced to a third rate African country.
A high score of 133 in corruption,more corrupt than Somalia and 2nd in executions after China.
The rial being one of the lowest value currency in the world,even lower than Afghan currency.
And you have people out there that still believe that this maniac religious theocracy can be reformed.
What a calamity!
It's way too early to project December exports. We won't know for sure until late January, when all of Iran's Asian oil customers report customs data.
ReplyDelete