Iranian crude heading to South Korea
National Iranian Tanker Co. (NITC) very large crude carrier (VLCC) The Brawny is heading to South Korea with a shipment of up to 2 million barrels of Iranian oil, according to a report by Bloomberg.
The vessel was reported to have left the port of Kharg Island, Iran on October 3, 2012 and is provisionally scheduled to discharge its cargo at Daesan in South Korea.
Hyundai Oilbank Co. operates a 395,000 barrel-a-day refinery in Daesan.
South Korea is one of 20 countries who have secured a renewable 180 day waiver from U.S. sanctions meaning it is able to buy oil and petroleum products from the Islamic Republic without risk of the U.S. levelling sanctions against it.
Separately, fellow South Korean firm SK Innovation Co. was said to have taken delivery of an Iranian crude shipment on October 2, 2012 in Ulsan, according to Yoo Jung Min, a spokesman at South Korea’s largest refiner, who declined to identify the vessel.
