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Report shows how Iranian oil exports to China increased 8 times

Fars news agency reported that “the signing of a strategic cooperation agreement between Iran and China for the next 25 years has led to an 8-fold increase in Iranian oil exports to this country.”

In its report, Fares followed the OPEC and Kepler numbers, pointing out that “Iranian oil exports to China grew by 193% in 2021, and in 2022 they grew by 168% compared to the previous year, and that one of the reasons for this is the strategic cooperation agreement between the two countries in the era of the new Iranian government, and now the volume of Iranian oil exports to China has increased 8 times compared to the period before the said agreement.”

According to Fares, “Experts believe that the policy of creating and finding markets for oil is one of the best methods to safely sell oil in light of the embargo and market fluctuations.”

For his part, Mohammad Sadeq Jokar, head of the Institute for International Energy Studies in Iran, told the Fars news agency, “The comprehensive cooperation agreement between Iran and China is subject to strategic cooperation agreements and also includes the development of oil refineries. the creation of new refineries, the construction of small refineries and the transfer of technology.”

Jokar believed that “by following the policy of creating markets for its oil, Iran can also reduce the sale of its crude oil and increase the sale of oil and petrochemical derivatives.”

He pointed out that “a strategic partnership is different from a strategic alliance. The existence of cooperation and strategic partnership between Iran and China does not exclude the existence of cooperation and strategic partnership, for example, between Iran and India, and now there may be a strategic partnership between China and Saudi Arabia.”

Source: “Tariffs”

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