Beijing forcing Tehran to lower oil prices

In recent weeks, China has reduced the volume of purchases of Iranian hydrocarbons and thus put their own regional partner in a difficult position. Earlier Peking bought almost 20% of Iranian hydrocarbons, but in January, oil imports from Iran fell by almost half — to 285 thousand barrels per day.

Oil Saudi Arabia has become Beijing's candidacy for Iranian hydrocarbons. Saudi Arabia in October 2011 to increment production by 360 thousand barrels, 200 of which consumes the PRC.

Chinese raw-material broker Unipec managed to achieve increasing supplies from Saudi Arabia by using the features of the drafting of contracts, which allow the purchase of a huge amount of raw material. Saudi oil price as before kept at a comfortable level for China.

Furthermore, Peking not limited to increasing the supply of oil only from the 1st of the source and found a few alternatives to Iranian hydrocarbons. So, in March of this year in China will arrive 5 tankers ESPO brand of the Russian Federation (3,650,000 barrels), and 1 oil tanker brand Urals.

Many experts believe that such acts are explained by China's attempts to get his dignity when considering a new long-term contracts for the supply of hydrocarbons. According to the views of the analyst IHS Energy Samuel Shizuka, Peking, knowing full well that the number of buyers of Iranian oil decreases, so he tries to press Tehran to achieve a low cost for long-term contracts.

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