REFILE-TABLE-South Korea’s Iran crude oil import in January down 47.3 pct y/y

Reuters – South Korea’s crude oil imports from Iran fell 47.3 percent in January from a year earlier, while its total crude oil imports rose 6.6 percent year on year to 99.8 million barrels last month, data from state-run Korea National Oil Corp (KNOC) showed on Monday.

For story on South Korea’s Iranian crude oil imports in January

(in 1,000 barrels unless specified) Jan 2018 Dec 2017 Jan 2017 Crude oil imports 99,816 99,851 93,663 (1,000 b/d) 3,220 3,221 3,021 Oil product demand 83,981 85,159 79,927 (1,000 b/d) 2,709 2,747 2,578 Crude runs 99,822 100,160 98,224 Oil product output 108,760 109,728 106,251 (1,000 b/d) 3,508 3,540 3,427 End-month private oil stocks 102,191 102,987 98,191 Crude oil stocks 41,933 42,080 37,222 Oil product stocks 51,479 52,246 53,039 Oil product exports 45,136 45,836 41,968 Oil product imports 27,536 26,212 26,457 Operation Rate(%) 105.6 106.0 103.9

Note: Crude oil stocks and oil product stocks do not add up to total end-month oil stocks because the total volume also includes byproducts obtained from initial refining, which are used to make premium oil products.

Details of some of the biggest crude exporters to South Korea in January compared with both a month and a year earlier are below.

Country Jan 2018 Dec 2017 Jan 2017 Saudi Arabia 27,441 29,544 24,494 Kuwait 14,962 12,079 12,716 Iran 7,812 8,712 14,819 Qatar 6,891 6,297 6,093 UAE 4,563 6,797 8,474

Details of some of the biggest crude exporters to South Korea in January compared with year 2018 and 2017 are below.

The exporters may not be the top five oil suppliers to South Korea as KNOC classifies crude imports from Iraq under “Others” Country Jan 2018 Jan 2017 Saudi Arabia 27,441 24,494 Kuwait 14,962 12,716 Iran 7,812 14,819 Qatar 6,891 6,093 UAE 4,563 8,474

Note: South Korea’s Iraqi crude imports data is available at a later date on the KNOC website (www.petronet.co.kr).

(Reporting By Jane Chung)