The Iranian flag flies above the new Phase 3 facility at the Persian Gulf Star Condensate Refinery (PGSPC) in Bandar Abbas, Iran, on January 9, 2019. Phase three of the refinery begins start operation next week and will add more 12- Deputy Oil Minister Alireza Sadeghabadi told reporters that the gasoline production capacity of the plant is 15 million liters per day.
Ali Mohammadi | Bloomberg | beautiful pictures
Iran’s oil exports hit a new high in the last two months of 2022 and are off to a strong start through 2023 despite US sanctions, according to flow-tracking firms, thanks to high shipments. than China and Venezuela.
Tehran’s oil exports have been restricted since former US President Donald Trump in 2018 withdrew from the 2015 nuclear accord and reimposed sanctions aimed at limiting oil exports and related revenue to the government. Iran.
Exports rose during the tenure of successor President Joe Biden, who sought to revive the nuclear deal and hit their highest levels since 2019 by some estimates. This comes despite headwinds such as the stagnation in those talks and competition from falling Russian crude.
Energy consultancy SVB International said Iran’s crude oil exports in December averaged 1.137 million bpd, up 42,000 bpd from November and the highest figure for 2022 reported by SVB based on previous estimates.
“Compared to the Trump administration, there hasn’t been any serious crackdown or action on Iran’s oil exports,” said SVB’s Sara Vakhshouri. “January exports so far have been as strong as in previous months.”
“China’s demand is lower and Russia’s supply to China is a big challenge for them. Most of their oil still goes to the Far East, eventually to China. Iran also helps Venezuela with oil exports. .”
Adrienne Watson, a spokeswoman for the National Security Council at the White House, said the administration’s enforcement of sanctions was robust, and “Iran’s macroeconomic data clearly demonstrate this.” .”
“We have and will not hesitate to take action against those who evade sanctions, along with sanctions on Iran’s missile and drone trade, as well as violations human rights violations against the Iranian people,” Watson said. The financial impose sanctions late last year about an oil smuggling ring linked to Iran’s Islamic Revolutionary Guard Corps (IRGC).
Consulting firm Petro-Logistics, which tracks oil supplies, said it also sees an upward trend in Iran’s crude exports, which, in their view, hit the highest level since March in December. 2019.
Kpler, a data intelligence firm, put Iran’s crude oil exports at 1.23 million bpd in November, the highest level since August 2022 and almost on par with 1.27. million bpd in April 2019, although they fell to just under 1 million bpd in December.
An undated photo shows the Iranian-owned oil tanker Sabiti sailing in the Red Sea.
West Asia News Agency | Reuters
Iran’s oil ministry did not respond to a request for comment on exports. of Iran draft state budget based on shipments even higher than 1.4 million bpd, the semi-official Fars news agency reported this week.
China is Iran’s biggest customer. According to analysts, including FGE, to evade sanctions, most of Iran’s crude oil exports to China are renamed to crude from other countries. Iran previously claimed that the documents were forged to conceal the origin of Iranian goods.
Also, Iran last year expand its role in Venezuela, which is also under US sanctions, sends supplies of light oil for refining and diluent to produce exportable crude oils.
Add to China
There are no firm numbers on Iran’s oil exports and estimates often fall into a wide range. Tanker tracking companies use a variety of methods to track flows, including satellite data, port loading data, and human intelligence. Iran usually does not publish figures.
According to another analyst, Vortexa, China’s December Iranian oil imports hit a new record of 1.2 million bpd, up 130% from a year earlier.
“Most of these shipments were shipped to Shandong, where independent refiners have switched to discount category since the second half of 2022 amid slowing domestic demand and profitability,” the company said. reduced oil refining”.
The press department of the Chinese Foreign Ministry, in response to a request for comment, said: “The lawful and reasonable cooperation between China and Iran under the international legal framework deserves respect and protection. “, without directly addressing a Reuters question about China’s record purchases of Iranian oil.
Vortexa said Russia’s supply of Ural oil, a major competitor to Iranian oil, fell in December – as price ceilings on Russian crude exports and a European Union ban created uncertainty for the buyer.
A revived nuclear deal would allow Iran to increase sales to former buyers such as South Korea and Europe.
However, negotiations have been at a stalemate since September, and Washington’s special envoy for Iran said in November Tehran’s crackdown on anti-government protesters and the sale of planes did not the driver for Russia was shift Washington’s focus from the agreement.
After Trump removed the United States from the nuclear deal and reimposed sanctions, Iran’s crude oil exports fell back to 100,000 bpd in 2020 from more than 2.5 million bpd in 2018, according to tanker tracking companies.
