Samsung Total Petrochemicals will resume buying Iranian oil

Home > Business > Economy

print dictionary print

Samsung Total Petrochemicals will resume buying Iranian oil

Samsung Total Petrochemicals has revived a contract to buy Iranian oil after a year’s hiatus, as thin margins in plastics make the cheap fuel from Iran hard to resist, according to sources familiar with the deal on Friday.

Stringent United States and European sanctions aimed at reducing Iran’s oil income and forcing Tehran to curb its nuclear program have cut the Islamic republic’s crude exports in half.

Reuters

More in Economy

Gangbuk beats Gangnam

600,000 jobs added last year, but many public or welfare

Consumer price gains pick up speed in November

Life expectancy up 7 months for Koreans born in 2019

OECD knocks tenth of a point off Korea's 2020 growth

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now