{"id":11567,"date":"2024-08-10T02:52:47","date_gmt":"2024-08-10T02:52:47","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=11567"},"modified":"2024-08-10T02:52:47","modified_gmt":"2024-08-10T02:52:47","slug":"irans-oil-finds-new-destinations-in-tehran-export-push-sources-say","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/11567\/","title":{"rendered":"Iran’s oil finds new destinations in Tehran export push, sources say"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Iran has sent small shipments of crude oil to new destinations such as Bangladesh and Oman, according to shipping sources and data, Reuters reports.<\/p>\n

Oil sales are Iran\u2019s major revenue source and the country has been looking for ways to sidestep US sanctions on its crude exports that former President Donald Trump re-imposed in 2018 after unilaterally abandoning the nuclear deal.<\/p>\n

Iran, which is exempt from output quotas set by the Organisation of the Petroleum Exporting Countries (OPEC), is striving to maximise production and exports.<\/p>\n

Oil Minister Javad Owji said in July that Iran was selling crude oil to 17 countries, including those in Europe, according to the semi-official Mehr News Agency<\/em>. The details could not be corroborated.<\/p>\n

In one new trade, the Golden Eagle tanker sailed near the port of Chittagong in Bangladesh earlier this year after receiving oil from another vessel that loaded it from Iran\u2019s Kharg Island according to available evidence based on shipping data, Claire Jungman, from US advocacy group United Against Nuclear Iran, said.<\/p>\n

The Golden Eagle offloaded parts of the cargo to smaller tankers in ship-to-ship transfer operations around Chittagong in April, said Jungman, whose organisation tracks Iran-related tanker traffic via satellite data.<\/p>\n

The shipment to Bangladesh was separately confirmed by another oil export tracking source.<\/p>\n

An official with state-owned Bangladesh Petroleum Corporation, which operates the country\u2019s main refinery, said it did not buy the cargo and it was difficult to establish who was the buyer.<\/p>\n

The Golden Eagle\u2019s Liberia-based owner and manager listed in shipping databases could not be reached for comment.<\/p>\n

Iranian officials did not immediately respond to a request for comment.<\/p>\n

Tehran\u2019s oil output has topped 3.2 million barrels per day this year, the highest since 2018, according to OPEC figures, after posting one of OPEC\u2019s biggest output increases in 2023 despite US sanctions still being in place.<\/p>\n

Iranian crude exports have reached new highs this year, with March-May being the strongest three-month period since mid-2018, according to Petro-Logistics, a Geneva-based firm which tracks tanker shipments.<\/p>\n

\u201cBut volumes seem to be plateauing now,\u201d said Virginie Bahnik of Petro-Logistics.<\/p>\n

At least eight cargoes of oil \u2013 mostly from Iran \u2013 were heading to Syria with some already discharged, shipping sources said. Shipments to Syria, however, were below their peak some years ago as Iran seeks other export destinations.<\/p>\n

Iranian oil deliveries into Syria have averaged 57,190 bpd in 2024 compared with a high of 147,000 bpd in 2022, according to export analysis from UANI\u2019s Jungman.<\/p>\n

A separate tanker delivered a cargo believed to be Iranian crude oil into the Omani port of Sohar in June after loading the consignment via a ship-to-ship transfer with another vessel that picked up the shipment from Iran\u2019s Kharg Island earlier this year, UANI\u2019s Jungman said, citing shipping data.<\/p>\n

The ship tracking source also confirmed the arrival of this cargo into Sohar.<\/p>\n

Sohar Port and Oman\u2019s Maritime Security Centre did not immediately respond to requests for comment.<\/p>\n

Iran has also begun bringing cargoes into China\u2019s northeast Dalian port, adding another new destination for its crude.<\/p>\n

Tehran\u2019s exports to China, which does not recognise US sanctions, have been flowing into the port, helping sustain the country\u2019s oil imports at near record levels.<\/p>\n

Tanker trackers and dealers say that traders re-brand Iranian oil destined for China as originating from elsewhere, such as Malaysia, Oman or the United Arab Emirates.<\/p>\n

Iranian oil exports have now reached a peak and have stabilised around 1.5 million bpd, since February, said Homayoun Falakshahi, senior crude oil analyst with Kpler.<\/p>\n

Updated on