I believe this deserves its own thread. The title can be appropriately named after it's released, like it's the case with CPEC. We may eventually start seeing a flurry of contracts and it would be a good idea to compile it into one thread, along with all the politics surrounding it.
China and Iran signed an overarching deal aimed at charting the course of their economic, political and trade relations over the next 25 years.
“The document can elevate bilateral ties to a new strategic level,” Foreign Ministry spokesman Saeed Khatibzadeh said in a televised interview.
A draft copy of the accord that surfaced on media last year showed plans for long-term supply of Iranian crude to China as well as investment in oil, gas, petrochemical, renewables and nuclear energy infrastructure. Lured by the prospect of cheaper prices, China has already increased its imports of Iranian oil to around 1 million barrels a day, eroding U.S. leverage as it prepares to enter stalled talks with Tehran to revive a nuclear deal.
Chinese imports of Iranian crude will hit 856,000 barrels a day in March, the most in almost two years and up 129% from last month, said Kevin Wright, a Singapore-based analyst with Kpler.
In China, fuel consumption has already recovered to pre-pandemic levels. It’s continuing to grow on the back of strong factory activity and infrastructure building that left the capital, Beijing, blanketed in smog this week.
China’s imports of crude oil climbed to an average of 11.1 million barrels a day in January and February, up more than 20% from December, according to Bloomberg calculations.
China Signs 25-Year Deal With Iran in Challenge to the U.S.
Strategic partnership covers private sector and Belt and Road. Deal may help Iran’s economy in the face of U.S. sanctions.
www.bloombergquint.com
“The document can elevate bilateral ties to a new strategic level,” Foreign Ministry spokesman Saeed Khatibzadeh said in a televised interview.
A draft copy of the accord that surfaced on media last year showed plans for long-term supply of Iranian crude to China as well as investment in oil, gas, petrochemical, renewables and nuclear energy infrastructure. Lured by the prospect of cheaper prices, China has already increased its imports of Iranian oil to around 1 million barrels a day, eroding U.S. leverage as it prepares to enter stalled talks with Tehran to revive a nuclear deal.
China buying record volumes of Iran’s sanction-discounted crude
Chinese imports of Iranian crude will hit 856,000 barrels a day in March, the most in almost two years and up 129% from last month, said Kevin Wright, a Singapore-based analyst with Kpler.
www.worldoil.com
In China, fuel consumption has already recovered to pre-pandemic levels. It’s continuing to grow on the back of strong factory activity and infrastructure building that left the capital, Beijing, blanketed in smog this week.
China’s imports of crude oil climbed to an average of 11.1 million barrels a day in January and February, up more than 20% from December, according to Bloomberg calculations.