News

SINGAPORE, Feb 21 (Reuters) - Iran
may not find new buyers for crude in Southeast Asia, hampering the OPEC
producer's efforts to find alternative outlets for barrels displaced by
Western sanctions, refiners and traders said on Tuesday.

The region is seen as a potential market for Iranian barrels. Tehran is struggling to find buyers after top consumers China, India and Japan cut purchases.

Iran has stopped sales to British and French companies in
retaliation against an embargo announced by the European Union
that comes into effect from July 1. The world's fifth-largest
exporter said it would sell to new customers.

But Southeast Asian refiners are unwilling or unable to take
in Iranian crude, either due to issues related to the sanctions
or their plants' inability to process the crude, which has a
higher sulphur content.

"Sanctions are a big concern for us. The guidelines from the
ministry are not to purchase crude from Iran because of the U.S.
sanctions, so even if we are offered Iranian cr... >>>