Industrialized Cyclist Notepad


Iran-China oil trade under way

But…but…

Zhuhai Zhenrong Co., the Chinese company censured by the U.S. in January for trading with Iran, provisionally hired an oil tanker to carry fuel oil from the Persian Gulf nation, shipping data showed.

Tianbao, a unit of state-owned Zhuhai Zhenrong, chartered the Khorfakkan to load 80,000 metric tons on May 15 from the Iranian port of Bandar Mahshahr, according to three shipbrokers including Poten & Partners Inc. in New York. The Liberia-flagged vessel is under way in the Persian Gulf, transmissions captured by IHS Inc. (IHS) on Bloomberg show.

Fuel oil is a residual product of refining used for power generation and as shipping fuel. […]

via Bloomberg: http://www.bloomberg.com/news/2012-05-04/china-s-zhuhai-zhenrong-books-may-fuel-oil-shipment-from-iran.html



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.