Iran Increases Oil Export to Japan

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Iran`s oil exports to Japan (including gas condensates) in December 2017 reached ‎‎6.781‎‎‎ million barrels.

Compared to the preceding month. the figure indicates a 17-percent increase. said Japan`s Ministry of Economy. Trade and Industry. reported Trend News Agency.

The figure includes 472.710 barrels of condensates exported from Iran`s South Pars Gas Field. as well as 261.196.9 barrels of light oil. 4.14 million barrels of heavy oil and 1.91 million barrels from Forouzan-B oilfield.

Iran was Japan`s fifth biggest oil supplier after Saudi Arabia. the UAE. Qatar and Kuwait. with a share of 6.2 percent in December 2017. while the country met 6.8 percent of the Asian state`s oil demand in December 2016 (7.63 million barrels).

The Islamic Republic supplied 5.8 percent of Japan`s oil demand in November 2017.

Saudi Arabia exported 43.9 million barrels of oil to Japan in December 2017 (40.1 percent of the country`s total crude imports.)

Iran`s oil exports to Japan reached 83.94 million barrels in the fiscal year of 2016 showing a growth of 38 percent compared to the figure for the preceding year.

Iran met seven percent of Japan`s oil demand in 2016.

Iran`s oil exports increased by one million barrels per day (mbd) in 2016 to 2.42 mbd and the figure would increase to 2.59 mbd in 2018. said IMF earlier in a report.