Tuesday, April 24, 2012

Iran Crude Supplies to China Fall for Fourth Month in March

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Iran’s oil shipments to China fell for a fourth month in March to the lowest in 22 months amid delays in signing term supply contracts. Imports by the biggest buyer of Iranian crude fell 6.2 percent to 1.08 million metric tons, or about 254,000 barrels a day, according to calculations by Bloomberg from data released via e-mail today by the Beijing based General Administration of Customs.

Supplies from the Persian Gulf nation averaged 557,413 barrels a day last year.
Purchases from Iran slid as China International United Petroleum & Chemical Co., the nation’s biggest oil trader, put off signing a 2012 term contract with National Iranian Oil Co. after a disagreement over payment terms.....Read the entire Bloomberg article.

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