Iranian crude exports to China have dominated headlines around sanctions busting for years, but far less attention has been given to Iran’s 500,000 b/d refined products trade. Around 65% of this trade typically ends up in the UAE’s storage facilities, according to data intelligence firm Kpler.
Despite the UAE’s closeness with the US, as well as its own fractious relations with Tehran, this flow continues to hold strong. Kpler estimates an average of 259,000 b/d flowing into the key port of Fujairah this year (80% of total Iran-UAE flows; see chart 1); Hamriyah takes another 35,000 b/d, with the remainder split between smaller ports. (CONTINUED - 964 WORDS)
