Iran oil exports rise in July on shipments to Europe

Iran's oil exports rose by 45,000 barrels per day in July compared to the previous month, data released by the Ministry of Petroleum showed on Tuesday.

The country delivered more than 2.2 million barrels per day (bpd) of crude to Asian and European markets, the Mehr news agency cited the ministry report as saying.

Iran's oil exports to Asia in July increased by more than 100,000 barrels to 1.4 million bpd, after seeing the volumes fall for two straight months since Western sanctions against Tehran were lifted in January last year.

China, South Korea, India, Japan are Iran's major crude oil customers on the Asian continent.

India's imports of Iranian crude rose more than 30 percent in the first three months of the Indian financial year in April-June. Oil Minister Dharmendra Pradhan however has said India's state refiners will buy less Iranian oil in the upcoming months compared to the last fiscal year.

New Delhi wants Tehran to grant special rights to the development of a major gas field in the Persian Gulf to the Indians and its latest decision is apparently a response to Iran’s refusal to submit to the demand.

Minister of Petroleum Bijan Zangeneh has said India’s purchase of less Iranian oil is a non-issue because his country has enough customers elsewhere. According Iran's leading oil tanker operator NITC, shipments to Europe are increasing daily and the company plans to expand its fleet to cope with the situation.  

The rise in July came after imports of Iranian crude by Asian buyers fell for a second month in a row to a 14-month low in June because of lower purchases by China and Japan.

China, India, South Korea and Japan together imported 1.46 million bpd of Iranian crude in June, down 15.2% on a year ago and the lowest amount since 1.32 million bpd in April last year, Reuters reported, quoting government and ship-tracking data.

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