South Korea tests U.S. super light oil as Iran waiver uncertainty grows – sources

© Reuters.  Exclusive: South Korea tests U.S. super light oil as Iran waiver uncertainty grows - sources

 

South Korea has begun testing super-light U.S. oil sold by energy firm Anadarko Petroleum Corp (NYSE:APC) as a substitute for Iranian crude as it awaits word from Washington whether it can keep buying oil from the Middle Eastern nation, sources said.

South Korea is one of Iran’s biggest Asian customers, and was one of eight importers that received waivers to keep buying Iranian oil when the United States re-imposed sanctions in November.

Washington is expected to reduce those waivers in May, disrupting South Korea’s supply of Iranian condensate, an ultra-light crude oil that is used in its large refining and chemical industry.

www.bullscommodity.com

 

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