S. Korean petrochemical firms import more naphtha from UAE, India, Qatar, Bahrain, Pakistan amid Russia sanctions

South Korean petrochemical companies' naphtha imports from Russia went down 67 percent on year at 1.92 million tons after they diversified sources following the Ukraine invasion.

Meanwhile, imports of naphtha from the United Arab Emirates (UAE), Indi, Qatar, Bahrain, and Pakistan increased.

According to the Korea Petrochemical Industry Association,

South Korea imported 29.1 million tons of naphtha last year, with 23.9 percent from Russia being the largest share.

Russia’s share slipped to 8.7 percent in the January to October period of this year due to international sanctions.

During the same period, South Korea’s imports of naphtha from the UAE rose to 23.4 percent a year at 3.94 million tons from 13.7 percent last year.

Those from India, Qatar, Bahrain, and Pakistan rose by 18.2 percent, 70.2 percent, 163 percent, and 127.8 percent, respectively, from a year.