Iran exports $4.575bln worth of oil, goods to China in 6 months

TEHRAN (FNA)- The Iranian Ministry of Industries, Mines and Trade announced that the country exported $4.575bln worth of oil and goods to China in the first half of the Iranian year (started on March 21, 2014).

Iranian exports to China stood at $4.575 billion in the past six months, accounting for 27.4 percent growth in terms of value, the Ministry said on Wednesday.

Iran is currently China’s third largest supplier of crude, providing Beijing with roughly 12 percent of its total annual oil consumption.

It marks China’s biggest crude import from Iran since it won a renewal of exemption from the United States’ oil embargo against Iran.

Media reports said late October that Iran’s oil exports to its top three Asian customers are likely to increase even further in the coming months as Tehran is making progress in its talks with the six major world powers (the US, Russia, China, France and Britain plus Germany).

“Tehran’s crude sales would likely surge if Britain, China, France, Germany, Russia and the United States reach any agreement with Iran that would scuttle the sanctions,” Reuters quoted an energy analyst as saying.

The analyst of a north Asian oil refiner, speaking on conditions of anonymity, noted that Asian imports from Iran are likely to rise.

By Fars News Agency


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