Seoul expecting oil from Iran next month
22-Aug-2012 (one comment)

South Korea should expect its next delivery of Iranian crude oil by insured cargo in September, a South Korean official said.

South Korean officials this month suggested in an interview with the Platts news service that crude oil deliveries from Iran could begin in September. Iran's semiofficial Fars News Agency quotes an official said to be close to the South Korean Economic Ministry as confirming the expected delivery.

"The imports will resume from early September loading, meaning late September arrival," the source said on condition of anonymity. "The oil will be loaded in Iran to be shipped by Iranian tankers under Iranian insurance cover.




Insurance plan lets India resume shipping Iran oil

by MeyBokhor_Manbarbesuzan on


MUMBAI, India (AP) -- The first Indian ship to carry Iranian crude since European sanctions on ship insurance decimated Iran's oil trade is scheduled to load up on Wednesday.

India's Mercator shipping says the tanker is contracted to carry 85,000 metric tons of crude for a government refiner. 

Japan has been offering its shipping companies up to $7.6 billion in coverage per tanker. South Korean refiners are in talks to allow Iran to send oil on its own ships.