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Iranian oil imports to China increased

09 July 2024 [21:17] - TODAY.AZ

By Alimat Aliyeva

Independent oil refineries in China increased crude oil imports from Iran by 4.3% in June, reaching an eight-month high of about 6.1 million metric tons, Azernews reports.

According to information, Iranian oil has become more popular among independent refineries in recent months.

It is reported that China's independent refineries, mainly in the eastern province of Shandong, increased imports of Iranian oil by 4.3% in June to an eight-month high of about 6.1 million tons in order to reduce raw material costs and improve the weak profitability of refining.

It is noted that this volume was the highest since October 2023, when it reached 6.22 million tons.

The share of Iranian oil in the total portfolio of raw materials of small independent refineries in Shandong in June was about 65.7% compared with 54.2% in May.


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