An unprecedented volume of Iranian crude oil is set to arrive at China’s northeast Dalian port this month and in early November before US sanctions on Iran take effect, data on Refinitiv Eikon showed on Thursday.
A total of 22 million barrels of Iranian crude oil loaded on supertankers owned by the National Iranian Tanker Co (NITC) are headed for Dalian, the data showed. Dalian typically receives between 1 million and 3 million barrels of Iranian oil each month, according to data that dates back to January 2015.
Iran, the third-largest producer in the Organisation of the Petroleum Exporting Countries (OPEC), is finding fewer takers for its crude ahead of US sanctions on its oil exports that will take effect on Nov. 4. Read More
Latest posts by The Economic Times (see all)
- India intensifies talks to check oil prices as US-Iran tensions rise - June 24, 2019
- HPCL relents, govt recognises ONGC as company promoter - June 23, 2019
- Oil prices jump 6% as Trump says Iran made ‘very big mistake’ - June 21, 2019