facebook
twitter
rss
account
search
search
 

Seoul expecting oil from Iran next month

Aug. 21, 2012 at 5:21 AM   |   Comments

SEOUL, Aug. 21 (UPI) -- South Korea should expect its next delivery of Iranian crude oil by insured cargo in September, a South Korean official said.

South Korean officials this month suggested in an interview with the Platts news service that crude oil deliveries from Iran could begin in September. Iran's semiofficial Fars News Agency quotes an official said to be close to the South Korean Economic Ministry as confirming the expected delivery.

"The imports will resume from early September loading, meaning late September arrival," the source said on condition of anonymity. "The oil will be loaded in Iran to be shipped by Iranian tankers under Iranian insurance cover."

Sanctions imposed by the European Union target maritime insurance for Iranian crude oil.

U.S. Secretary of State Hillary Clinton in June included South Korea in a list of countries she said reduced the amount of crude oil purchased from Iran.

South Korea in June imported 24 percent less crude oil from Iran than it did during the same month last year. There was no mention in the Fars report of an expected volume of the September delivery.

South Korea is the No. 5 oil importer in the world.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover
2
Tony Hayward: Kurdish oil sector open for business Tony Hayward: Kurdish oil sector open for business
3
Saab producing vehicle protection system for unidentified customer Saab producing vehicle protection system for unidentified customer
4
Norways Kongsberg to demo missile for U.S. Navy Norways Kongsberg to demo missile for U.S. Navy
5
Purpose-built engine for ScanEagle UAV delivered to Insitu Inc. Purpose-built engine for ScanEagle UAV delivered to Insitu Inc.
Trending News
Video
x
Feedback