Europe buys 40% of Iran oil in November

European customers purchased 40 % of Iran’s crude oil exports in the month of November, Iranian Shana reported on December 3, 2017.

European companies resumed purchase of oil cargoes from Iran since implementation of the Joint Comprehensive Plan of Action (JCPOA) in 2015.

Under the sanctions, Europe bought almost no oil barrels from OPEC member Iran. Now, oil majors like Shell, Total and ENI as well as Saras are among Iran’s buyers.

In November, Iran exported 60% of its oil exports to the Asian market with China remaining its biggest customer buying over 600,000 b/d from the country.

Figures indicate that South Korea was still the biggest buyer of ultralight oil (also called gas condensate) from Iran in the month.

Iran exported an average of 400,000 b/d of the item in November. According to Iranian Minister of Petroleum Bijan Zangeneh, Iran’s crude oil and gas condensate exports stand at 2.5 million barrels per day.