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Iran to supply 400,000 oil bpd to China

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Staff writer ▼ | May 12, 2014
Iran oilIran has renewed its oil export contracts with its Asian buyers, agreeing to deliver 400,000 barrels per day (bpd) to China, a senior Iranian oil official says.


"Iran has reached an agreement with China for the export of more than 400,000 bpd," Mohsen Qamsari, director general for international affairs at the National Iranian Oil Company (NIOC), said. He said NIOC has renewed its crude oil selling agreements with refiners in India, China, South Korea, Japan and Turkey. "The volume of Iran's oil exports to Japanese refineries will average around 140,000 bpd."

Iran's crude oil exports have been rising since Tehran reached a breakthrough deal with six world powers over its nuclear energy program last November.

Last Thursday, Iran's Oil Minister Bijan Namdar Zanganeh said the country will not accept any limitation to the export of its crude oil.

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