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China's Feb crude imports from Iran up 81 per cent on year

Oil&Gas Materials 21 March 2013 21:53 (UTC +04:00)
China's crude oil imports from Iran rebounded last month from a 10-month low hit in January, official data showed, in line with an International Energy Agency (IEA) report that said new U.S. sanctions appeared to have had little impact on shipments, Reuters reported.
China's Feb crude imports from Iran up 81 per cent on year

China's crude oil imports from Iran rebounded last month from a 10-month low hit in January, official data showed, in line with an International Energy Agency (IEA) report that said new U.S. sanctions appeared to have had little impact on shipments, Reuters reported.

The rebound also came after an official from China's biggest refiner, Sinopec Corp, said his refinery will process more Iranian crude this year than last.

China, Iran's top crude oil customer, bought nearly 2.0 million tonnes of Iranian crude in February, equivalent to about 521,330 barrels per day (bpd), up 68 percent from 309,906 bpd in January, according to data from the General Administration of Customs.

February crude imports from Iran rose 81 percent from 288,576 bpd a year earlier.

The IEA said in its March report that new U.S. sanctions on Iran implemented in February, which barred the country from repatriating oil export earnings, appeared not to have had an impact on February shipments.

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