"South Korea will buy around 10 percent of its crude from Iran in 2012, up slightly from last year, as the country seeks a waiver from toughened U.S. sanctions that could disrupt Iranian oil shipments.
Refiners in the world's fifth-largest oil importer have struck annual deals to buy 200,000 barrels per day (bpd) of Iranian crude, a little more than the 190,000 bpd in 2011, but are also keeping an eye out for potential replacements."
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