DUBAI: Iran´s oil exports to South Korea have more than quadrupled to 400,000 barrels a day since international sanctions were lifted in January, Oil Minister
Bijan Zanganeh was quoted as saying on Sunday by the Shana news
agency.
Iran, whose exports to South Korea were less than 100,000 barrels a day before sanctions were lifted, has since worked to quickly boost its output.
It has focused on selling to its traditional customers in Asia, but has also shipped cargoes to Europe.
According to data from Energy Aspects, global imports of Iran´s crude rose in March to 1.90 million bpd, from 1.51 million bpd in February.
Zanganeh also said Iran and South Korea were working to resolve difficulties in transferring payments for the oil sales, alluding to the continued reluctance of international banks to enter the Iranian market.
Most international sanctions were lifted in January under last year´s nuclear deal, including those targeting the oil sector, but some U. S. sanctions and a U.S.trade embargo remain in place.
Trade delegation aims to explore investment opportunities in various sectors in Pakistan
FBR's move to leave adverse effect on foreign investment in telecom sector, says PTA
Sindh govt's top priority is to provide maximum facilities to the people, says Sharjeel Inam Memon
Sheikh Mohammed bin Abdulrahman Al Thani is TIME magazines "100 Most Influential People" in 2024
KSE-100 shares index gained 1244.45 points or 1.76% to finish at 71,902
Neom officials reject claims of Saudi Arabia mega project being scaled down