South Korea’s oil imports from Iran up 115%

The latest official figures show Iran’s crude oil exports to South Korea saw a major leap of about 115 percent in June compared to last year.

The jump is associated with South Korea’s interest in cheap Iranian condensate that prompted Asia's major ultra-light oil buyer to boost purchases of the oil products last month.

Figures released by Reuters show that Seoul brought in 1.04 million tons of Iranian crude oil last month, or 254,653 barrels per day (bpd).

The volume is more than two times higher than 485,182 tons that the country imported a year earlier when sanctions were imposed on Tehran.

SS