China October imports of Iranian oil decline 45% to 1.1m tonnes

25 November 2013 08:20  [Source: ICIS news]

SINGAPORE (ICIS)--China imported 1.1m tonnes of crude oil from Iran in October, a decrease of 45.2% on year and 45.7% on month, data from China Customs showed on Monday.

Total crude imports from Iran in January-October were 17.1m tonnes, down by 3.7% year on year, the data indicated.

China is on its way to cut intakes of Iranian oil by 5% this year, industry sources said.

The country has set an unofficial target to reduce Iranian oil imports by 5% in 2013, partially to increase its chance to get a waiver to US sanctions aimed at Iran’s nuclear programme, they said.

The three biggest crude suppliers to China in October were Saudi Arabia, Angola and Oman in order.

Their crude shipments to China were 4.6m, 3.2m and 2.2m tonnes, respectively, in the month, the data indicated.

China’s total crude imports in October were 20.4m tonnes, down by 13.8% year on year. The aggregated intakes in January-October increased 3.5% on year to 231.8m tonnes, according to the data.

By: Fanny Zhang
+65 6780 4359

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