News ID: 252988
Published: 0150 GMT May 18, 2019

Iran changes tactics, destinations on oil exports

Iran changes tactics, destinations on oil exports

Iran has adopted new tactics and new destinations in shipping its oil exports following the reimposition of US sanctions, a senior Iranian maritime official said on Saturday.

"The Oil Ministry's tactics in exporting oil and petroleum products have changed… and perhaps the destinations of oil cargoes from our ports have changed," Hadi Haqshenas, the maritime affairs deputy director at Iran’s Ports and Maritime Organization, told ILNA.

Haqshenas gave no details of the new tactics or destinations.

He added that Iran’s exports of crude and oil produces continue as in previous months. “All oil supplies are formally diverted to their destinations”.  

"Of course, it cannot be denied that the loading of oil and products has fallen compared to the past, but the shipping of oil cargoes from our ports has definitely not stopped," Haqshenas said, without giving figures.

Iranian crude oil exports have fallen in May to 500,000 barrels per day (bpd) or lower, tanker data showed and industry sources said, after the United States tightened the screws on Tehran's main source of income, deepening global supply losses, Reuters reported on Friday.

Iranian exports have become more opaque since US reinstated sanctions in November after pulling out of a 2015 nuclear accord between Tehran and six world powers.

Tehran no longer reports its production figures to the Organization of the Petroleum Exporting Countries (OPEC) and there is no definitive information on exports.

Iran’s exports have more than halved since April, when Iran shipped less than 1 million bpd. They are also less than a fifth of the more than 2.5 million bpd that Iran shipped in April 2018, the month before US President Donald Trump withdrew the United States from the nuclear deal.

 

 

   
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