Iran to increase oil export to China to 500.000 barrels per day in 2012

 

The National Iranian Oil Company has reached an agreement with the International United Petroleum and Chemical Corporation (UNIPEC) to increase oil exports to China to 500,000 barrels per day, Press TV reports.

The agreement with UNIPEC, indicates that a decline in Iranian crude exports to China earlier this year was due to a commercial dispute rather than political reasons, Press TV cites Dow Jones Newswires as saying.