IRAN - CHINA SPECIAL CONDITIONS

PLATTS - China's Sinopec is in discussions with government authorities and suppliers regarding its Iranian crude imports and is trying to make special arrangements on the flow in the coming weeks, an executive said during the company's third quarter results briefing call on Wednesday.

Company Vice President Huang Wensheng said many Sinopec refineries were configured to process Iranian crude oil, which has a rich aromatics content, and the company has had term contracts with Iran for over two decades.

Sinopec is the biggest refiner in the world by capacity and throughput, absorbing around two-thirds of China's crude arrivals from Iran.

The company bought around 149.83 million barrels of Iranian crude oil in 2017, accounting for 8.6% of its total crude throughput, according to filings with the US Securities and Exchange Commission.

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Earlier:

2018, October, 24, 11:25:00 IRAN'S OIL DOWN EIA - Iran's crude oil exports and production have declined since the May 2018 announcement by the United States that it would withdraw from the Joint Comprehensive Plan of Action (JCPOA) and reinstate sanctions against Iran.

2018, October, 22, 12:30:00 IRAN'S OIL REVENUES UP 25% SHANA - Iranian Minister of Petroleum Bijan Zangeneh said the country’s petroleum revenues had exceeded expectations by 25 percent in the first half of the current Iranian calendar year which began on March 21.

2018, October, 22, 12:00:00 IRAN'S OIL SELLING SHANA - First Vice President Eshaq Jahangiri said the country had plans for ensuring continuation of its oil sales under fresh US sanctions.

2018, October, 1, 11:25:00 IRAN'S OIL FOR CHINA DOWN REUTERS - China’s Sinopec Corp is halving loadings of crude oil from Iran this month, as the state refiner comes under intense pressure from Washington to comply with a U.S. ban on Iranian oil from November, said people with knowledge of the matter.

2018, September, 7, 12:09:00 IRANIAN OIL FOR CHINA: 874 TBD PLATTS - China's crude imports from Iran are likely to have peaked in August at 874,000 b/d ahead of the looming re-imposition of US sanctions in November,

2018, August, 17, 11:35:00 IRAN'S OIL EXPORTS DOWN PLATTS - South Korea's crude oil imports from Iran halved in July from a year earlier in the wake of the reimposition of US sanctions, according to preliminary data released by the Korea Customs Service Thursday.

2018, August, 1, 09:25:00 IRANIAN OIL EXPORTS 2.3 MBD SHANA - Iran exported an average of 2.3 million barrels per day of crude oil to Asian and European countries during the four months. This is while exports for last calendar year's corresponding period stood at 2.115 mbd. Русский | English