21614
China's Iran Oil Imports Increased in June 
Energy

China's Iran Oil Imports Increased in June 

China's crude oil imports from Iran rose in June to a two-month high, customs data showed on Tuesday, just as the Islamic Republic begins to look ahead to ramping up its exports in the wake of last week's nuclear deal.
Iran's largest oil client imported 2.76 million tons last month, or 671,800 barrels per day, up 29.6% from May and 26.5% from a year ago, Reuters reported.
Thomson Reuters Oil Research & Forecasts had estimated China's June imports from Iran at 507,300 bpd, and has said it expects the volumes to hit 562,800 bpd in July.
The UN Security Council on Monday backed the deal Iran reached the previous week with six world powers to curb its nuclear program in exchange for the easing of economic sanctions. And US President Barack Obama has said he will veto any rejection of the deal by the US Congress.
Iran's Oil Minister Bijan Namdar Zanganeh has said the country is aiming to add 500,000 bpd to output within two months of sanctions being eased, and as much as 1 million bpd in six to seven months.
Most analysts do not expect Iran to make a major return to the market until next year because of time needed to implement the nuclear agreement and to revamp the OPEC producer's oil infrastructure.
Over the last 2-1/2 years, sanctions put in place by the United States and the European Union cut Iran's crude exports roughly in half to around 1 million bpd.

 

Short URL : http://goo.gl/AEOlWR

You can also read ...

Canada to Boost Support for Renewable Energy
Millions of dollars in subsidies for a Nova Scotia tidal...
Iran's LPG Exports Fall to 356,000 Million Tons
Iran's LPG shipments loaded, or due for lifting, in September...
The field has cumulatively produced about 15 million cubic meters of gas and 31.4 million barrels of oil and condensate.
India’s Reliance Industries has shut down an oil and gas field...
Emirati Oil Company Hoarding Jet Fuel
Emirates National Oil Company has begun storing jet fuel on...
OPEC,  Non-OPEC Aug. Compliance  at 129%
An OPEC and non-OPEC monitoring committee found that oil...
Saudis, Russia Planning to  Replace Iran Oil Market Share
The joint OPEC and non-OPEC ministerial committee, aka JMMC,...
$30 Million for Mazandaran Gas Expansion  Scheme
Over 4.56 trillion rials ($30 million) have been allocated to...

Trending

Googleplus