Page 158 - RusRPTApr23

Russian exports of discounted crude and fuel oil to China highest at any point since the invasion of Ukraine & surpassed a record set in April 2020 (1.66m bpd, says Kpler)Buying spree likely underpinned by private refiners. State-owned processors now showing more interest.
Iran's oil exports have hit a record high since the United States reimposed sanctions in 2018, as reported by the country's Oil Minister Javad Owji on Sunday through the semi-official Tasnim news agency.
The minister revealed that the current year starting on March 21, 2022, witnessed an export of 83mn more oil barrels compared to the previous year. This marks an increase of 190mn barrels from two years ago, as per Owji's statement. Additionally, gas exports also witnessed a rise of 15% in 2022-23 compared to the previous Iranian year, Bloomberg reported on March 14.
The increase in Iran's oil exports comes after the United States lifted some sanctions imposed on the country, allowing it to resume trade with the world. Owji noted that the recent rise in oil exports is a result of Iran's concerted efforts to expand its customer base and maintain its presence in the global oil market.
Despite the positive news, Iran's oil industry is still struggling due to the prolonged sanctions imposed on it by the United States. The sanctions have significantly affected the country's oil production and exports, leading to a drop in revenues and a decline in the country's economy.
158 RUSSIA Country Report Russia April 2023 www.intellinews.com