Iran’s oil exports to Japan rises to 200,000 bpd

Tehran, June 20, IRNA – Iran’s oil exports to Japan rose to over 200,000 barrels per day, according to a top official with the National Iranian Oil Company (NIOC).

IRNA economic correspondent said that some sources speculated that the Iranian oil exports to Japan declined due to technical issues about insurance of oil tankers.

Mohsen Qamsari, the director of international affairs of the NIOC, said that Japan’s refining capacity fell down so that it has reduced from 5 million bpd to 3.6 million bpd and is expected to further decline in the future.

He said that Iran can have a share between 160,000 bpd and 200,000 bpd from the Japanese market.

Japan is one of the traditional customers of Iranian crude oil, whose oil imports from the Middle East in April showed a 10 percent increase compared to the same month in the preceding year.

By IRNA