China’s crude oil imports from Iran rise nearly 50% in Jan-May

27 June 2014 05:17 Source:ICIS News

SINGAPORE (ICIS)--China imported around 13.4m tonnes of crude oil from Iran in the first five months of this year, up by 49.8% from the same period last year, official customs data showed on Friday.

That makes Iran the third biggest crude oil supplier to China in the five-month period, following Saudi Arabia at 20.3m tonnes and Angola at 18.1m tonnes, according to China Customs.

In May alone, the imports of Iranian crude oil reached approximately 3.2m tonnes, an increase of 36.4% year on year, the data showed.

Industry sources said that most of the Iranian crude oil imports were for Sinopec’s refineries, while some South Pars condensate was taken by Fujian-based Dragon Aromatics to produce paraxylene (PX). 

China imported a total of 26.1m tonnes of crude oil in May and 128.7m tonnes from January-May, representing a year-on-year growth of 9.8% and 10.9%, respectively.

By Fanny Zhang