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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, September, 17, 14:55:00

SEVEN NUCLEAR FACTORS

WNN - The future of nuclear energy depends on the industry’s readiness to address the seven factors influencing its prospects, the deputy director general of the International Atomic Energy Agency (IAEA) told delegates at the World Nuclear Association Symposium 2018 held in London last week.

DOUBLE  OIL
2018, September, 17, 14:50:00

U.S. & BRITAIN NUCLEAR RESEARCH

WNN - The UK's National Nuclear Laboratory (NNL) and the US Department of Energy's Oak Ridge National Laboratory (ORNL) have agreed to cooperate on nuclear energy research. The announcement came as the UK and USA signed a nuclear R&D action plan.

DOUBLE  OIL
2018, September, 17, 14:45:00

U.S. INDUSTRIAL PRODUCTION UP 0.4%

U.S. FRB - Industrial production rose 0.4 percent in August for its third consecutive monthly increase. Manufacturing output moved up 0.2 percent on the strength of a 4.0 percent rise for motor vehicles and parts; motor vehicle assemblies jumped to an annual rate of 11.5 million units, the strongest reading since April. Excluding the gain in motor vehicles and parts, factory output was unchanged.

DOUBLE  OIL
2018, September, 17, 14:40:00

U.S. RIGS UP 7 TO 1,055

BAKER HUGHES A GE - U.S. Rig Count is up 7 rigs from last week to 1,055, with oil rigs up 7 to 867, gas rigs unchanged at 186, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 22 rigs from last week to 226, with oil rigs up 15 to 148 and gas rigs up 7 to 78.

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