The sanctions by the USA on the industry of Iranian oil have cut the crude oil exports of Iran to a large extent, but the exports of oil products which were also under the sanctions have been able to maintain the pace even after the sanctions had kicked in. This was claimed by a report on Monday by citing its own calculations and shipping data.
The crude oil exports have been crippled a lot by the sanctions by close to an amount of 80% according to estimates. Yet the exports from Iran of oil products such as LPG and fuel have been able to remain stable recently.
The worth of LPG and fuel oil exports from Iran has been projected to be at almost US $500 million in a month.
The exports of LPG from Iran were close to 200,000 bpd in July and were worth over US $180million. The main recipient of the LPG from Iran was China in the month of June and it takes more than 95% of all the exports of LPG from Iran.
As far as the fuel oil is concerned the data has shown that the exports from Iran have increased narrowly to 230,000 bpd in the month of August whereas it was 220,000 bpd in the month of July. The Iranian exports in fuel oil had gone to the United Arab Emirates. The fuel oil exports from Iran are projected at being worth over US $ 300 million per month.
The US secretary of the states in the last month had said that the US had managed to ensure that the crude oil from Iran was off the market completely and by this they will be able to curb the terrorism there.
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