Iran finds new oil buyers despite US sanctions

LONDON, Jan 06 (Reuters): All countries that were granted waivers from the United States (US) to continue buying a certain amount of Iranian oil imports are complying with US sanctions, a senior Iranian energy official said, noting that Tehran was hopeful to find new buyers.

The United States withdrew from a nuclear deal with Iran last year and snapped sanctions in place to choke Iran's oil and banking industries, while temporarily allowing eight customers to keep buying crude from the Islamic Republic.

"China, India, Japan, South Korea and other countries that were granted waivers from America to import Iranian oil are not willing to buy even one barrel more from Iran," Amir Hossein Zamaninia, Iran's deputy oil minister for trade and international affairs, was quoted as saying by the Oil Ministry's news agency SHANA.

However, without giving details, Zamaninia said: "Despite US pressures on Iranian oil market, the number of potential buyers of Iranian oil has significantly increased due to a competitive market, greed and pursuit of more profit."

The 180-day exemptions were also granted to Italy, Greece, Taiwan and Turkey.

Washington seeks to bring Iranian oil exports to zero in order to curb Tehran's missile and nuclear programmes and counter its growing military and political influence in the Middle East.

Iran has urged European countries, which are still committed to the nuclear deal, to oppose the sanctions by creating a financial mechanism that facilitates payments of Iranian oil sales.

Zamaninia said the mechanism, known as SPV (Special Purpose Vehicle for trade), would be "helpful but could not resolve the problems since US influence will affect any European action".

An earlier report from Houston, United States adds: OPEC crude cargoes leaving for the United States (US) in December dropped to the lowest level in at least five years, data from Refinitiv Eikon and market intelligence firm Kpler show.

Oil cargoes departing from OPEC nations to the United States fell to 1.63 million barrels per day (bpd) last month, down from 1.80 million bpd in November and 1.78 million bpd in October, the data show.

Saudi Arabia, the biggest producer in the Organisation of the Petroleum Exporting Countries (OPEC), and several others curbed supplies in the face of rising US production and inventories, analysts said.

"Some of it was a decline in OPEC production," said Andy Lipow, president of Lipow Oil Associates in Houston. "But they're facing competition from US shale and Canadian production."

OPEC and allies including Russia agreed last month to cut crude production beginning this month by 1.2 million bpd, following a strategy to support prices when supplies overwhelm demand.

OPEC pumped 32.68 million bpd last month, according to a Reuters survey, down 460,000 bpd from November, suggesting some members moved to reduce supplies ahead of the recent accord.