Iran oil to Europe difficult to replace: Opec
Doha, December 7, 2011
Iranian oil supplies to Europe would be difficult to replace if a ban supported by some European Union states were to be imposed, Opec's secretary general said on Wednesday.
"I really hope that there will be no embargo from the EU, but it is their decision," Abdullah Al-Badri said. "It would be very difficult to replace."
EU members import around 450,000 barrels per day (bpd) of Iranian oil, about 18 per cent of the Islamic Republic's exports.
Badri said Europe as a whole, a region that includes non-EU countries such as Turkey, imported as much as 865,000 bpd of Iranian oil.
"The EU is facing some difficulties as far as sovereign debt and unemployment (are concerned) so to cut 865,000 bpd immediately would be a problem," he said. "I don't really advise against it but at the end of the day it is the EU's decision." – Reuters
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