China oil imports from Iran up 40% despite US led sanctions

Discussion in 'Latest US & World News' started by Abu Sina, Aug 7, 2011.

  1. Abu Sina

    Abu Sina New Member

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    http://www.irdc.ir/en/content/13722/default.aspx

    Good for you China and Iran.
    Carry on doing business and develop your countries.
     
  2. moon

    moon Well-Known Member

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    The United Nations Security Council structure desperately needs an overhaul. These sanctions against Iran should not exist. They are Zionist-led , the ultimate in hypocrisy from a fascist regime with a nuclear arsenal.
     
  3. waltky

    waltky Well-Known Member

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    India ain't goin' along with the program...
    :fart:
    India Pledges To Continue Buying Iran Oil
    Thursday 26 January 2012 - India could be on a collision course with the United States and European Union after officials in Delhi made clear they intended to carry on importing oil from Iran, despite the imposition of Western sanctions against Tehran.
     
  4. lynx

    lynx Well-Known Member

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    Good for India, have some backbone. I think the title of quiet giant should be India.

    Well, it seems like a war that will be between the west and Iran, Russia, China and India.
     
  5. Margot

    Margot Account closed, not banned

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    BEIJING: China’s crude oil imports from Saudi Arabia rose to 1.12 million barrels per day in December, the fourth-highest on record on a daily basis, Chinese customs data showed, as the world’s top oil exporter pumped just under the 10 million bpd mark.


    Read more: China buys more oil from Saudi Arabia http://www.btimes.com.my/Current_News/BTIMES/articles/20120122235333/Article/#ixzz1kbkPQ9Fm
     
  6. lynx

    lynx Well-Known Member

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    So what, Saudi Arabia still can't tell China what to do.
     
  7. Rollo1066

    Rollo1066 Member

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    Of course. If we (USA/EU) stop buying from Iran we have to buy from someone else. They then have less left to sell to China. Then China looks around for who has available unsold oil. Guess what that's Iran.
     
  8. camp_steveo

    camp_steveo Well-Known Member

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    OIW, the net effect of the sanctions is nothing more than added propaganda tools for the Iranian regime.

    WTG neocons, Obama included.
     
  9. waltky

    waltky Well-Known Member

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    Iran threatenin' higher oil prices, India say dey not goin' along with sanctions program...
    :omg:
    Iran predicts EU sanctions may increase global oil prices by 50 percent
    Monday 30th January, 2012 - Iran has predicted that global oil prices would increase by 50 per cent following European Union sanctions on crude oil exports.
    See also:

    India refuses to cooperate with US on oil sanctions
    Monday 30th January, 2012 - India has told US officials it cannot ban Iran oil imports.
     
  10. Margot

    Margot Account closed, not banned

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    Are you sure of your source, because the numbers don't work. China is buying less Iranian oil and 40% more Saudi oil..

    Irian production is way down to about 3.2 million barrels a day and they use have that amount domestically.
     
  11. Margot

    Margot Account closed, not banned

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    You are missing the point.

    China and Saudi Arabia are building the biggest refinery in the world...
     
  12. Margot

    Margot Account closed, not banned

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    90,000 bpd??? that's nothing.

    7/2011

    China's Sinopec Corp. is importing around 90,000 barrels a day of a super light crude from Iran, 40 percent more than previously reported, Reuters reported on Friday.

    Sinopec is taking the South Pars condensate from the National Iranian Oil Company (NIOC) under a term deal that started in January, a main factor behind the rise in China's crude oil imports from Iran in the first half of the year, the report added.

    The volume is 40 percent larger than the annual supply of 24 million barrels reported earlier.

    The deal to supply the super light crude, an ideal feedstock to make petrochemicals and worth $3 billion a year, was part of a broader alliance the two national oil firms clinched under which Asia's largest refiner would upgrade and build refineries in Iran.

    According to the report, Iran shipped about 15 million barrels of condensate from its giant South Pars gas project to at least three Sinopec refineries -- Tianjin, Zhenhai and Maoming -- where the light crude oil is used to feed ethylene crackers.

    The condensate, making up 16 percent of China's total crude imports from Iran, has helped bolster China's Iranian oil purchases to about 540,000 barrels per day between January and June.

    The report comes despite US-engineered sanctions on Iran over Western allegations that Tehran is developing a military nuclear program.

    Iranian officials refute such allegations and stress that as a member of the International Atomic Energy Agency and a signatory to the Nuclear Non-Proliferation Treaty, the country has a legitimate right to pursue peaceful nuclear technology
     
  13. Eadora

    Eadora Well-Known Member

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