RE:Iran oil is not a factor for supplyI agree: Iran has never stopped shipping oil, for people to believe otherwise is extremely foolish. China imported over 260,000 tonnes in December the equivelent of 2.2 million bbl; and that is just what they have admitted too.
Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. REUTERS/Aly Song
SINGAPORE, Jan 20 (Reuters) - China reported the first imports of Iranian crude oil in a year despite ongoing sanctions by the United States government, according to data released by customs on Thursday.
China brought in 260,312 tonnes of Iranian crude oil in December, according to data from the General Administration of Chinese Customs, which last recorded Iranian oil inflows in December 2020 at 520,000 tonnes.
It was not immediately clear which company brought in the latest cargo, which is equal to the amount of oil that would fit onto one very large crude carrier (VLCC) tanker, and which terminal it was discharged into.
Unofficially, China's imports of Iranian oil had held above 500,000 barrels per day on average between August and October, as buyers judged that getting crude at cheap prices outweighed the risks of busting U.S. sanctions, Reuters reported in November. read more
To avoid the sanctions, Iranian crude has been exported to China marked as oil from Oman, the United Arab Emirates and Malaysia, squeezing out supplies from Brazil and West Africa, traders have said.
Imports from Iran have accounted for about 6% of China's crude oil imports, according to shipping data and trader estimates.