Amid the crisis of Irans energy sector, with sharply-reduced oil exports and a withdrawal of investment from oil and gas projects, we often feature the contrasting All-Is-Well propaganda of State media. Last month, for example, there was the assurance of Oil Minister Rustam Qassemi that US-Led Sanctions Contribute to Irans Progress andPress TVs flat-out lieabout Indian oil purchases from Tehran.This morning, however, there is a flicker of truth in Press TVs declaration, South Koreas Iran Oil Imports up 38% in July.
Reuters, using data from the Korea Customs Service,reported on Thursdaythat South Korea imported 815,447 tonnes of crude from Iran last month, up 38% from a year ago in the first rise in 2013.
Seouls purchases of Iranian oil in June-July rose 12% compared to January-May to 165,933 barrels per day.
That increase was part of a Iranian recovery in exports in July to 1.16 million bpd, compared to figures earlier this year of below 800,000 bpd.
Press TV does not note, however, that the good news is relative Irans exports are still far below the 2.2 million bpd at the start of 2012, and production has declined about 35% to 2.6 million bpd and could be short-lived.
Only five countries, including China and South Korea, are still buying Iranian crude, and Seoul will have to reduce its purchases soon or face the loss of a waiver from US financial penalties.
By Enduring America
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