China state refineries explore Iran oil deals

China state refineries explore Iran oil deals

TEHRAN- China’s state-owned refiners have begun exploring purchases of Iranian crude after Washington allowed the sale of some oil already loaded onto tankers, Bloomberg reported, citing people familiar with the matter.

Western sources claim that Iran has around 140 million barrels of oil stored on tankers at sea (often referred to as "oil on water"), and that the U.S. government has lifted sanctions to allow the sale of these cargoes in an effort to control global oil prices, Mehr news agency reported.

Previously, private Chinese refineries were the main buyers of Iranian oil, but according to a Bloomberg report, Chinese state-owned refineries are now also considering resuming imports of Iranian oil.

The U.S. Senate Minority Leader criticized the lifting of Iranian oil sanctions, stating that this move would generate over $11 billion in oil revenue for Iran.

In contrast, the Speaker of the Iranian Parliament rejected the existence of any stranded Iranian oil cargoes, emphasizing that Iran has no oil stored on tankers at sea.

MA

source: tehrantimes.com