S. Korea To Resume Iran Oil Imports From September
From Gulf News
South Korean refiners will resume imports of up to 200,000 barrels per day (bpd) of Iranian crude from September, economy ministry sources said on Monday, ending a two-month gap due to a European Union (EU) ban on insurance cover for Iranian oil.
The resumption is unlikely to hinder South Korea’s bid to extend a US sanction waiver later this year as imports in 2012, which were down 17 per cent in the first half, will still be almost 20 per cent lower than last year.
