SKInnovationImportIranOilResumedContemporaryHanw

 
The petrochemical industry will resume the importation of Iranian condensate
(ultra hard crude).

 

Condensate is oil which can obtain naphtha which is the basic raw material
of chemical products.


According to Reuters,

SK innovation finishes talks with the side at the end of last year
and supplies the first raw material of condensate at the end
of this month at the earliest.

 

On this day, Kim Joon SK Innovation representative,
at the International Household Appliance Expo (CES) held in Las Vegas, USA,
"We plan to introduce Iranian oil at the end of this month or early next month,"
he said.
 
Other manufacturers, such as Hyundai Oil Bank and Hanwha Total
which suspended imports due to the issue of sanctions against Iran in the US,
are scheduled to resume imports of Iranian Condensate as early as February.

Prior to that, on November 5 last year,
the United States restored the sanctions on the import of Iranian crude oil,
but for the eight countries including
Korea,Japan, China etc, we suspended the sanction for 6 months.
 
Iranian Condensate has the advantage of extracting naphtha up to 70 to 80%.
On the other hand, the average rate of extracting naphtha from crude oil
in other areas is only 20%.

However, despite these strengths from Iran,
the petrochemical industry focused on restoring US sanctions against Iran,
changing the import destination to other areas,
completely stopping Iranian imports in September did.
 
By the time companies decide to restart for the first time in 4 months,
companies are closely watching the policy of the United States against
the Middle East policy and have been pursuing various consultations
with the domestic financial zone,
and introducing restrictive Iranian production by May .
 
SK Innovation Rulu, which we decided to import first, the petrochemical
industry, the import price settlement is US "Secondary Boycott
(Regulation that companies in a third country that traded with Iran did not trade
with partners in the United States) "was confirmed carefully.
 
However, even if the import restart in the first quarter is carried out
with the United States giving clues to reduce expense to exceptional conditions,
Quantity of the first quarter of last year
It is expected that it will not even reach the 50% level as compared
with the previous year (2009 barrels).

South Korea resumes importing crude oil from Iran.
 
Kim Jung, CEO of Korea's SK Innovation, is about to import crude oil
from Iran at the end of this month or early next month.

In November last year, South Korea installed an exemption for six months
of American oil sanctions, which allowed us to import crude oil from Iran,
but the country has not imported Iranian crude oil since September last year.

South Korea is supposed to be able to import 200,000 barrels per day
of crude oil from Iran, but it is expected that most
of it will be liquefied petroleum gas and light oil.

South Korea is the third largest Iranian crude oil importer in the world
and before the invocation of the US Iran sanction
in November last year was a major importer of Iranian liquefied petroleum gas.
 
Iran sanctions,
Exception Korea can import crude oil until six months later.
https://japanese.joins.com/article/818/246818.html
2018.11.06 [koreajoongangdaily Japanese version]
 
The United States revived the sanctions on energy
and financial sectors against Iran,
but Korea was able to import Iranian crude oil for at least the next six months.

  US Secretary of State Pompeo announced on August 5 at 8:30 am local time,
announced the revival of Iran sanctions in collaboration
with US Treasury Secretary Muinkin Muijsin,
and announces temporary sanctions exception
to 8 countries including South Korea .

After withdrawing from the Iranian nuclear agreement (JCPOA) in May,
the United States resurrected sanctions against Iran in two parts.
 
Following this, at 0 o'clock on local day (local time)
▼ Iranian crude oil, natural gas, petrochemical products trading
▼ Transactions with Iranian central banks
and Iranian institutions designated for sanctions were banned.
If you violate this, you will be unable to trade with US financial institutions.
 
Eight countries including South Korea will apply the sanction exception
for 180 days for the time being.
After 180 days the decision of the US will determine whether
the exception measures will be extended.
Pompeo clarified temporary exemption policy for the eight countries
on 2nd and explained why "these countries took significant measures
to reduce crude oil imports and zero imports of Iranian crude oil" .

However,
the government decided not to disclose the precise reduction scale based
on the agreement between Korea and the US.
 
An official of the Korean Ministry of Foreign Affairs said,
"By accepting as an exception this time, stable supply and demand
of Condensate, which is indispensable for domestic petrochemical industry,
has become possible."

This is a matter repeatedly requested by the government from the US side.
It is because the price is low Iranian Condensate has contributed greatly
to the domestic petrochemical industry.
 
This time, Korea also got an exception for the Korean won settlement system
that has been used for trade between Korea and Iran.

Iranian central bank establishes Korean won account at IBK corporate bank,
Woori Bank and settles the trade fee between both countries with Korean won.
 
The Korean government persuaded that using
the Korean won payment system
prevents inflow of dollars into Iran,
considering that it is the purpose of the United States
to cut Iran's financial resources.

It is the heart of the Korean won settlement system to store
it in Korean won in the Iranian central bank account of the corporate bank
and Woori Bank, rather than paying the price directly
to Iran with dollar or euro after purchasing Iranian crude.
 
The domestic petrochemical industry has evaluated positively for a while.
Korea Petroleum Institute's Cho Jang-bam team leader
"It can be seen that some factors of rising crude oil prices have been lifted.
There was also a view that it will exceed 100 dollars per barrel within the year,
but the rise will ease in the short term. "
 
Although it was temporarily suspended, the possibility that import
of Iranian crude oil will resume on a large scale is not high.

When the US Iran sanction restoration was informed in May,
Korean companies virtually suspended the import of Iranian crude oil
and searched for alternative materials.

SK innovation where the import ratio of Iranian crude oil was about 10%
before the sanction announcement changed its suppliers from Iran
to Qatar since September.

Hanhwa Total also interrupted the import of Iranian Condensate
and diversified its import destinations to Australia and Qatar.
 
BTS members famous for atomic bomb T-shirts 
are crazy inside the bus
Videos leaked!
https://twitter.com/i/status/1062852872176451584
Overseas fans seem to be exactly the same
Suddenly overflowing with compliments of English praise. Creepy…

 

http://www.ekn.kr/news/article.html?no=398456
https://news.v.daum.net/v/20181106030037589

http://www.koreaherald.com/view.php?ud=20181114000854

 

 
A song called BTS "run". Members are suffering in waters in the water.
MV release date, March 11, It is the day of the Great East Japan Earthquake.
I can not forgive as a Japanese citizen.
 
BTS wearing a comfort Woman wear
Dokdo is also doing anti-Japanese act of singing our territory.

The capital flight started
World stock price / Korea KOSPI
Do not move, government intervention,
Trading suspension, circuit breaker activation,

power off of server,

Koria have a proven track record.

 

Yuzuru Sato
Korea attacks Japan by combining hands with North Korea and China
Propaganda neglect affects the recreation of the comfort women problem,

the activities of Japanese companies around the world
Possibility of losing in the image strategy at the US jury trial.

 

LAOS DAM

English articles　futukiiti hoyoujiyo

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DiffusionHopeGermanNGOSupportLaosAdoptVillage

 

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