News ID: 1302
Published: 0734 GMT September 09, 2014

South Africa hopes to resume Iran oil imports in three months

South Africa hopes to resume Iran oil imports in three months

South Africa is looking to resume oil imports from Iran and hopes to resolve "sanction issues" that have blocked purchases within the next three months, its deputy foreign minister said on Tuesday.

South Africa halted crude purchases from Iran in June 2012 because of Western pressure. South Africa bought around 68,000 barrels of oil per day from Iran in the month before exports halted, around a quarter of its crude oil needs, Reuters reported.

The announcement by deputy South African foreign minister Nomaindiya Mfeketo came after more than a day of talks in Pretoria with her Iranian counterpart.

Iran's exports to its top four oil buyers, China, India, Japan and South Korea, rose to 1.2 million bpd in the first half of 2014, versus 961,236 bpd in the same period a year ago, according to official customs data and tanker arrival schedules.

   
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