China's oil imports from Iran, June 2012

[Harry_Thomason]

As expected, China keeps increasing oil imports from Iran, and in June reached all-time record levels.

Respect for updates goes to PeRXeRs, chinese-monthly-oil-imports-from-iran

Whats even more interesting, that China pays to Iran above oil's market value. Still trying to figure out why, and what was smoke screen in the Q1 for, certainly not about negotiating discount as was announced.

 

[Gaara]

As expected, China keeps increasing oil imports from Iran, and in June reached all-time record levels.

Respect for updates goes to PeRXeRs, chinese-monthly-oil-imports-from-iran

Whats even more interesting, that China pays to Iran above oil's market value. Still trying to figure out why, and what was smoke screen in the Q1 for, certainly not about negotiating discount as was announced.

We can't say China keeps increasing oil imports from Iran by looking at this chart. There might be seasonal ups and downs in China's oil needs. So, we need to see at least one-year-chart to comment on. How much oil did China import in Apr 2011, May 2011 and June 2011?

 

[Harry_Thomason]

We can't say China keeps increasing oil imports from Iran by looking at this chart. There might be seasonal ups and downs in China's oil needs. So, we need to see at least one-year-chart to comment on. How much oil did China import in Apr 2011, May 2011 and June 2011?

Seasonal increase is in winter (and decrease in summer), like previous record in December 2011 - 600k barrels, now its 641k in June, and keeps increasing. Considering China's oil imports totals are down (due to struggling World's and even China's economy), the fact China is heavily increasing imports from Iran after they made the deal in March, and pays above market price as well, shows how much China is concerned to help Iran to bypass the sanctions.

 

[ihealugo]

China need Our oil , we need to sell , so they will buy it !
and our Oil minister said : it is increased by 17% .

 

[ChineseTiger1986]

China should not only increase the oil imports from Iran, but to increase the ties in all domains including the military.

 

[Gaara]

the fact China is heavily increasing imports from Iran after they made the deal in March, and pays above market price as well, shows how much China is concerned to help Iran to bypass the sanctions.

That's your fact, not the scientific fact. We need more data.

 

[Chinese-Dragon]

As expected, China keeps increasing oil imports from Iran, and in June reached all-time record levels.

Respect for updates goes to PeRXeRs, chinese-monthly-oil-imports-from-iran

Whats even more interesting, that China pays to Iran above oil's market value. Still trying to figure out why, and what was smoke screen in the Q1 for, certainly not about negotiating discount as was announced.

Because we highly value our relations with Iran.

Iran is one of the few major oil suppliers, that is completely independent from Western control.

That is worth more than gold. And certainly worth paying a premium.

 

[applesauce]

Because we highly value our relations with Iran.

Iran is one of the few major oil suppliers, that is completely independent from Western control.

That is worth more than gold. And certainly worth paying a premium.

if paying more than market price has greater implications such as keeping iran afloat for another purpose then it maybe worth it.

 

[SenLin]

Well, we shouldn't hide the bad news either:

Iran cancels $2 bln dam deal with China: report

BEIJING: Iran has cancelled a $2 billion contract for a Chinese firm to help build a hydroelectric dam in the country, Chinese state media said on Thursday, a move that risks upsetting Beijing, one of Tehran’s most important economic and political allies.

More: Iran cancels $2 bln dam deal with China: report | DAWN.COM

 

[Chinese-Dragon]

Well, we shouldn't hide the bad news either:

Iran cancels $2 bln dam deal with China: report

BEIJING: Iran has cancelled a $2 billion contract for a Chinese firm to help build a hydroelectric dam in the country, Chinese state media said on Thursday, a move that risks upsetting Beijing, one of Tehran’s most important economic and political allies.

More: Iran cancels $2 bln dam deal with China: report | DAWN.COM

Iran gave the contract to one of their domestic companies instead.

Which was the correct thing to do.

If your own domestic companies can do the job, then why give the contract to a foreign company?

Of course I would have liked the Chinese company to be a part of it, but business is business.

 

[Chinese-Dragon]

From the Bloomberg source in this other thread:

http://www.defence.pk/forums/irania...alt-crude-exports-if-sanctions-intensify.html

About 40 percent of Iran’s exports last month were destined for China, according to tanker-tracking data compiled by Bloomberg.

Our oil imports from Iran have been going up and up, and now we account for fully 40% of all Iranian oil shipments.

And we are still paying above market price for it, most likely to help the Iranian government with any cash flow problems they might have as a result of sanctions.