China’s first oil company in Iran

China’s first oil company in Iran
11 Nov

China is Iran’s first trading partner and purchases 15 billion US dollars of oil per year from Iran, while according to Chinese officials, their country is still considered to be the biggest buyer of Iranian oil.

According to Erna’s report, China has always been looking at Iran’s energy market as an important source to meet its oil needs. The Chinese government knows well that it is necessary to maintain access to Iran’s energy resources in order to maintain the level of development of domestic trade. Chinese officials have given the Islamic Republic Iran the most important and powerful country in the world in terms of energy. Chinese officials believe Iran’s growing capacity and power can not be ignored every day regarding the production of oil.

According to China’s official figures, China has seen significant growth in product purchases since the year 2016, whereas in the last two years, China has taken 5 million 30 thousand to 6 million 55 thousand barrels of crude oil from Iran. After the recent U.S. sanctions, China has got the exemption from taking oil from Iran, so the hope is that China’s oil companies will increase further oil purchases from Iran.

Meanwhile, Chinese officials and most experts say that the trade relations between Iran and China will not have any effect on any kind of pressure, especially in the field of energy between Tehran and Beijing, each other’s cooperation will continue And it is not going to affect any restrictions.

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