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Tag: oil imports

China and India put Trump Iran-sanctions to the test

4 years ago
Shortly after U.S. President Donald Trump announced in May he would reimpose sanctions on Iran, the State Department began telling countries around the world the clock was ticking for them to cut oil purchases from the Islamic Republic to zero. The strategy is meant to cripple Iran’s oil-dependent economy and force Tehran to quash not […]
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Asia’s August Iran oil imports hit 2-month low, set to drop further

4 years ago
Imports of Iranian crude oil by major buyers in Asia hit a two-month low in August, hurt by a more than 80 per cent plunge in South Korean purchases ahead of upcoming US sanctions on Tehran, government and ship-tracking data showed. China, India, Japan and South Korea last month imported 1.57 million barrels per day […]
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Oil’s fastest growing buyer guzzles Iran crude before sanctions

4 years ago
The world’s fastest growing oil consumer is guzzling down Iranian crude before US sanctions start squeezing supplies from the Gulf nation. India imported 771,000 barrels of crude oil a day from Iran in May, a 35 per cent increase from the previous month, tanker tracking and shipping data compiled by Bloomberg show. That pushed the […]
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US oil flows to Middle East; buyer is Saudi ally UAE

4 years ago
The United Arab Emirates has become the first country in the Middle East to import crude oil from the United States, Bloomberg reports. Citing data from the federal government, the financial news provider said a tanker carrying American condensate sailed from Houston and arrived in the Persian Gulf country last month. UAE officials reportedly said […]
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UAE buys first U.S. oil cargo to replace Qatar condensate: sources

5 years ago
The United Arab Emirates will import the country's first oil cargo from the United States, two sources familiar with the matter said, as the OPEC producer sought substitutes to replace Qatari condensate supplies after a diplomatic row. The UAE halted condensate imports from Qatar after it, along with Saudi Arabia, Egypt and Bahrain, severed diplomatic […]
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