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Europe's crude import from Iran up by 165%

TEHRAN, Apr. 17 (Mehr News Agency) -- EU's oil dependency on Iran has grown by 165% in the last seven years, the Persian service of Fars News Agency reported on Sunday.

The European Union imported 45 million euros, $54b, of oil from Iran in 1999-2005 period while the importation trend experienced a sudden upward increase in 2000, reaching 7.2b compared to 3.8b in 1999. However, the figure did not fare any better than 5.6 and 4.7b in 2001 and 2002 respectively.

Nevertheless, 2003 and 2004 oil imports witnessed 6b and 7b marks, reaching 10.1b all-times high in 2005. The latter increase, at 44%, placed Iran as the top fifth crude exporter to EU, improving its sixth position back in 2004.

Russia, Norway, Saudi Arabia, Libya, Algeria and Iran are the main oil suppliers to the EU countries with Iran registering four and six percent of the total in 2004 and 2005 correspondingly.

... Payvand News - 4/18/06 ... --

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