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01/23/12

China's crude oil imports from Iran up: Report

Source: Islamic Republic News Agency

China's crude oil imports from Iran have amounted to 28 million tons in 2011, which marks a 30-percent growth compared to the same period last year.

The figure shows China traded in nearly 557,000 barrels of oil from Iran on a daily basis last year, The Wall Street Journal reported.

Customs data showed that China's full-year crude imports totaled 253.78 million tons, up by 6.1 percent in 2011.

China's overall crude imports for December 2011 stood at 21.92 million tons, up 5.1 percent in comparison with the same period in the previous year.

Chinese Prime Minister Wen Jiabao said on January 19 that his country would continue oil trade with Iran in defiance of proposed US and European sanctions which aim to stop Iran's oil exports.

'China's oil trade with Iran is a normal commercial activity,' he added.

China's prime minister said, 'I believe that China is not the only country to buy oil from Iran... Legitimate trade has to be protected if global economic chaos is to be avoided.'

China's rapid growth in recent years has seen a surge in demand for oil in the country.

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