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2014-03-27 08:08:00

DOUBLE OIL

DOUBLE  OIL

PRESSTV. Official data show that South Korea more than doubled its crude oil imports from the Islamic Republic of Iran in February year-on-year.

Citing data from state-run Korea National Oil Corp (KNOC), the Platts weekly reported on Tuesday that South Korea's crude imports from Iran stood at 8 million 140 thousand barrels or roughly 290 thousand barrels per day (bpd) in February, up from around 4 million barrels in the same period last year.

According to the report, the volume of South Korea's February oil imports from the Islamic Republic increased more than four times from around 2 million barrels in January.

Earlier this month, South Korea made a first payment of USD 550 million to Iran for oil imports following partial relief in sanctions against the country in line with a nuclear deal inked between Tehran and the P5+1 group – Russia, China, France, Britain, the US and Germany – in Geneva, Switzerland, in November 2013.

Under the interim deal, the six countries agreed to ease some of the existing sanctions against the Islamic Republic in exchange for Iran agreeing to limit certain aspects of its nuclear activities during a six-month period.

World oil giants, including Royal Dutch Shell, British Petroleum (BP), Malaysia's Petronas, Spain's Repsol, Russia's second largest oil producer Lukoil, France's Total and Italy's Eni, have shown interest in returning to Iran following the partial sanctions relief.

Tags: IRAN, OIL, KOREA

Chronicle:

DOUBLE  OIL
2018, April, 20, 09:00:00

IRAN NEED NEW MARKETS

SHANA - The CEO of the Iranian Gas Commercial Company (IGCC) said his company, as the sole exporter of gas products in Iran, is currently seeking new markets for exporting liquefied petroleum gas (LPG).

DOUBLE  OIL
2018, April, 20, 08:55:00

UZBEKISTAN - LUKOIL GAS

LUKOIL - LUKOIL has commissioned a Gas Processing Complex at the Kandym fields cluster in Uzbekistan. The official opening ceremony was attended by the President of the Republic of Uzbekistan Shavkat Mirziyoyev, Minister of Energy of the Russian Federation Aleksander Novak, Ambassador Extraordinary and Plenipotentiary of the Russian Federation to the Republic of Uzbekistan Vladimir Tyurdenyov, Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to the Republic of Uzbekistan Kwon Yong Woo and the President of PJSC "LUKOIL" Vagit Alekperov.

DOUBLE  OIL
2018, April, 20, 08:50:00

ENI INVESTMENT €7 BLN

ENI - Eni will invest €7 billion in Italy over the next four years, including €1 billion in green activities

DOUBLE  OIL
2018, April, 20, 08:45:00

SEADRILL'S BANKRUPTCY OFF

REUTERS - Offshore oil driller Seadrill (SDRL.OL) plans to emerge from Chapter 11 bankruptcy in late June or early July to catch the rising wave of rig market activity, its chief executive told said on Wednesday.

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