China's refiner Sinopec Corp. will triple its import of crude from Iran next year, boosting its share of crude from OPEC's second largest producer.
Its state-run parent company, Sinopec Group, currently importing 60,000 barrels per day (bpd) is determined to purchase 160,000 bpd as of next year, said Reuters quoting two informed sources.
Based on the deals signed between Iran and China, Beijing will import around six percent of its total oil demand, namely 400,000 bpd, from Iran in 2008.
Its state-run parent company, Sinopec Group, currently importing 60,000 barrels per day (bpd) is determined to purchase 160,000 bpd as of next year, said Reuters quoting two informed sources.
Based on the deals signed between Iran and China, Beijing will import around six percent of its total oil demand, namely 400,000 bpd, from Iran in 2008.
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Another oil contract had been clinched earlier between the National Iranian Oil Company and China's state-owned Zhuhai Zhenrong Corporation.
It took almost three years to finalize the talks on the crude deal. China is the world's second largest oil consumer.
It took almost three years to finalize the talks on the crude deal. China is the world's second largest oil consumer.
Via: PressTV
