KNOC Boosted Oil Imports From Iran by 20% in 2011, Press TV Says

South Korea boosted its imports of Iranian oil by 20 percent last year, Press TV reported, citing Korea National Oil Corp.

The Asian country’s crude imports from Iran rose to 238,860 barrels a day in 2011 from 198,918 barrels in 2010, Iran’s state-run news channel said.

Some South Korean refineries plan to buy more oil from Iran in 2012, the report said, without identifying any.

South Korea, the world’s fifth-largest oil importer, bought 9.6 percent of its crude from Iran in the first 10 months of 2011, according to the report.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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