{"id":14178,"date":"2013-07-15T13:42:28","date_gmt":"2013-07-15T12:42:28","guid":{"rendered":"https:\/\/www.ncr-iran.org\/en\/issues\/economy\/14178-s-korea-s-june-iran-crude-imports-down-23-pct-on-year"},"modified":"2013-07-15T13:42:28","modified_gmt":"2013-07-15T12:42:28","slug":"s-korea-s-june-iran-crude-imports-down-23-pct-on-year","status":"publish","type":"post","link":"https:\/\/www.ncr-iran.org\/en\/news\/economy\/s-korea-s-june-iran-crude-imports-down-23-pct-on-year\/","title":{"rendered":"S.Korea&#8217;s June Iran crude imports down 23 pct on year"},"content":{"rendered":"<p>SEOUL, July 15 (Reuters) &#8211; South Korea&#8217;s imports of crude from\u00a0<a class=\"mandelbrot_refrag\" href=\"http:\/\/www.reuters.com\/places\/iran?lc=int_mb_1001\">Iran<\/a>dropped 23 percent in June from a year ago, missing its target for cuts in average daily shipments from the Middle Eastern country in June-November.<\/p>\n<p>Countries that import Iranian oil must make continuous cuts to keep getting six-month waivers under U.S. sanctions aimed at cutting Iran&#8217;s flow of oil money and forcing it to negotiate curbing its nuclear programme. Import levels can swing sharply month to month.<\/p>\n<p>As part of its efforts to win waivers for June to November,\u00a0<a href=\"http:\/\/www.reuters.com\/places\/south-korea\" title=\"Full coverage of South Korea\"  data-ls-seen=\"1\">South Korea<\/a>pledged to cut its Iran oil imports 15 percent over the period from December 2012 to May 2013, two sources told Reuters last month.<\/p>\n<p>The world&#8217;s No. 5 crude buyer cut its Iranian crude imports to 565,444 tonnes in June, preliminary data from Korea Customs Service showed on Monday.<\/p>\n<p>On a daily basis,\u00a0<a class=\"mandelbrot_refrag\" href=\"http:\/\/www.reuters.com\/places\/south-korea?lc=int_mb_1001\">South Korea<\/a>\u00a0bought 138,157 barrels per day (bpd) from Iran in June, up 16 percent from a month ago, according to Reuters calculations based on the customs data.<\/p>\n<p>Compared with a daily rate of 148,016 bpd for December to May &#8211; according to Reuters calculation based on data from state-run Korea National Oil Corp &#8211; June&#8217;s daily rate was down 7 percent.<\/p>\n<p>To hits its target of importing 15 percent less crude compared with the December-May period South Korea should be taking less than 126,000 bpd.<\/p>\n<p>In May Iran&#8217;s top buyers &#8211;\u00a0<a href=\"http:\/\/www.reuters.com\/places\/china\" title=\"Full coverage of China\" data-ls-seen=\"1\">China<\/a>, India,\u00a0<a class=\"mandelbrot_refrag\" href=\"http:\/\/www.reuters.com\/places\/japan?lc=int_mb_1001\">Japan<\/a>\u00a0and South Korea &#8211; together raised their purchases 11 percent from a year ago to 1.13 million barrels per day (bpd), according to Reuters calculations from trade and official import data.<\/p>\n<p>South Korea still managed to cut its December-May volumes from Iran 20 percent from the same period a year earlier, meeting its earlier declared target and winning its third waiver on sanctions from the United States.<\/p>\n<p>Overall, South Korea imported a total 10.44 million tonnes of crude last month against 10.71 million tonnes imported a year ago, the customs data showed.<\/p>\n<p>Final data for South Korea&#8217;s crude oil imports last month will be published by state-run Korea National Oil Corp (KNOC) later in the month. (Reporting by Meeyoung Cho and Jane Chung; Editing by Tom Hogue and Michael Urquhart)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SEOUL, July 15 (Reuters) &ndash; South Korea&rsquo;s imports of crude from&nbsp;Irandropped 23 percent in June from a year ago, missing its target for cuts in average daily shipments from the [&#8230;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[175],"class_list":["post-14178","post","type-post","status-publish","format-standard","category-economy","tag-updated"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>S.Korea&#039;s June Iran crude imports down 23 pct on year - NCRI<\/title>\n<meta name=\"description\" content=\"SEOUL, July 15 (Reuters) - South Korea&#039;s imports of crude from\u00a0Irandropped 23 percent in June from a year ago, missing its target for cuts in average\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ncr-iran.org\/en\/news\/economy\/s-korea-s-june-iran-crude-imports-down-23-pct-on-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S.Korea&#039;s June Iran crude imports down 23 pct on year - 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