Industrialized Cyclist Notepad


Reuters: China’s Unipec to take less Iran oil in 2012

Who to believe… Who to believe.

Iran’s oil ministry, National Iranian Oil Co (NIOC) will sell 240,000 barrels per day (bpd) of oil to China’s state oil trader Zhuhai Zhenrong in 2012, the same volume as last year, but volumes sold to Unipec, the trading arm of China’s top refiner Sinopec Corp, will be reduced.

Under the 2011 contract, Unipec lifted 260,000 bpd day of crude from Iran.

via UPDATE 2-China's Unipec to take less Iran oil in 2012 | Reuters.