Iranian exports to S Korea fall

Exports to S Korea fall by around 9%

Iran has estimated recoverable oil reserves of 140 billion barrels.
Iran has estimated recoverable oil reserves of 140 billion barrels.

Iranian exports of crude oil to South Korea have fallen in the first months of 2014, according to news site Reuters.
Seoul bought 283,287 tonnes of crude oil from Tehran last month, or 66,984 barrels per day (bpd), compared with 420,402 tonnes the year before.

Iranian crude shipments between January and October into Asia's fourth-largest economy hit more than 5 million tonnes, or 122,564 bpd, down 9 percent from a year ago. It was also 9 percent below the 2013 average of 134,000 bpd, according to the data and Reuters calculations.

World powers and Iran may not be able to secure a deal on curbing Tehran's nuclear programme before a Nov. 24 deadline, a Russian Foreign Ministry spokesman has said.

South Korea imported a total of 9.98 million tonnes of crude last month, or 2.36 million bpd. The total was down 6 percent from the 10.7 million tonnes in October last year, the customs data showed. Final data for last month's crude oil imports will be released by state-run Korea National Oil Corp later this month.

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