Iran to open Jask crude export terminal soon: Correct

Corrects reference to Iranian crude export levels in final paragraph

Iran will be able to export crude from outside the strait of Hormuz chokepoint within weeks, President Hassan Rouhani said yesterday.

"A thousand kilometers of pipelines will be opened in a few weeks and our oil will be exported from Jask in addition to Kharg [Island]," Rouhani said at a meeting with Iranian political activists.

A 46-inch diameter 1mn b/d pipeline will run from Iran's southwest Bushehr province to Jask, on Iran's southern Gulf of Oman coast, which will have oil storage tanks capable of holding around 10mn bl. When operational, the 1mn b/d Jask terminal will ease the burden on Iran's primary export terminal at Kharg Island, in the Mideast Gulf, which is operated by state-owned NIOC subsidiary IOTC.

Kharg Island currently ships out the vast majority of Iran's crude exports, which have been supported recently by increased direct and indirect purchases by long-time crude customer, China. There are smaller terminals — Sirri, Lavan and Soroosh — where crude top-ups are undertaken, but where tankers very seldom load full cargoes, and the Assaluyeh terminal handles exports of condensate.

It is unclear how much crude Iran exports. Argus assessed the country's output at 2.22mn b/d in March.

By Adal Mirza