China has extended the terms of oil contracts and agreements with Iranhttp://vestnikkavkaza.net/node/10203/edit
until 2011, Iran News cites the Iranian TV and radio broadcasting
company and Chinese press.
China is set to import up to 460,000 barrels of crude oil daily from
Iran in 2011.
Iran is the third largest oil supplier of China, along with Saudi
Arabia and Angola.
Iran exported 19.59 million tons of oil to China in 11 months last
year, corresponding to 430,000 barrels of oil daily.
Most major buyers of Iranian oil in Asia will continue dealing with
Tehran, despite the sanctions introduced by the UN Security Council
against Iran. China, Japan and South Korea still import approximately
1 million barrels of crude oil from Iran, despite pressure from the
USA and its Western allies.
