Top 10 buyers of Iran?s oil

OPEC?s second largest producer ?Iran sells large volumes of oil to China, India, South Korea, Japan and Italy. But Turkey, South Africa and Sri Lanka rely most heavily on Iranian oil as a percentage of imports.

U.S. sanctions already forbid imports of Iranian oil. France is pressing the European Union to consider a ban on Iranian oil to discourage Tehran?s nuclear programme.

Iran produces about 3.5 million barrels a day of crude with another 500,000 bpd of condensate, exporting about 2.6 million bpd of which 50,000 bpd is refined products, the International

Energy Agency estimates.

The top ten buyers of Iranian crude are as follows. Data is for the second quarter 2011 from the IEA with the exception of China, India and Sri Lanka which are not IEA members. Data for

those countries is for first half 2011 from the U.S. Energy Information Administration.

Country????????? Imports k/bpd??? Percent Imports

1. China???????? 543,000????????? 10

2. India? ???????341,000????????? 11

3. Japan???????? 251,000????????? 5.9

4. Italy???????? 249,000????????? 13.3

5. South Korea?? 239,000????????? 7.4

6. Turkey??????? 217,000????????? 30.6

7. Spain???????? 149,000????????? 9.6

8. Greece??????? 111,000???? ?????34.7

9. South Africa? 98,000?????????? 25

10.France??????? 78,000?????????? 4.4

In addition Sri Lanka imported 39,000 bpd in the first half of the year. It is completely reliant on ?Iranian oil.

Iran holds around 137 billion barrels of proven oil reserves, or nearly 10 percent of the world total, according to the BP Statistical Review of World Energy 2011. ????Despite sitting on the world?s second largest reserves of gas, Iran?s growing appetite for its own gas, combined with tightening international sanctions that have throttled its fledgling liquefied natural gas (LNG) programme, have made it a net gas importer for most of the last decade.??????? ??? Natural gas accounts for 54 percent of Iran?s total domestic energy consumption, while most of the remainder of energy consumption is attributable to oil, ?according to the EIA.

(Complied by Daniel Fineren and Emma Farge; editing by William

Hardy)

Source: http://www.kippreport.com/2012/01/top-10-buyers-of-irans-oil/

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