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| EU imports from Iranian crude oil up 7% in Q3, 2011 |
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 EU figures show imports of Iranian crude were up about 7 percent in the third quarter of 2011 compared to the second quarter.
The EU says it imported about 700,000 barrels per day (bpd) of Iranian crude oil in the third quarter of 2011, compared to about 655,000 bpd in the second quarter.
The EU agreed on Jan. 23 to ban Iranian oil imports, but the embargo will not be fully implemented until July 1, to avoid harming economies to whom Iran has been a major supplier.
OPEC's second largest producer, Iran, sells large volumes of oil to China, India, South Korea, Japan and Italy. But Greece, Turkey, South Africa and Sri Lanka rely most heavily on Iranian oil as a percentage of their imports.
Iran produces about 3.5 million bpd of crude with another 500,000 bpd of condensate - light hydrocarbon liquids.
Iran exports about 2.6 million bpd, of which about 50,000 bpd is refined products, the International Energy Agency (IEA) estimates.
Eight European Union countries imported Iranian crude oil in the third quarter of 2011, Eurostat figures show.
Sri Lanka imported 39,000 bpd in the first half of the year,
IEA data shows. It is completely reliant on Iranian oil.
Iran holds around 137 billion barrels of proven oil reserves, or nearly 10 percent of the world total, according to the BP Statistical Review of World Energy 2011.
(Source: Reuters)
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