Iran Economy NewsIran crude exports to China's Sinopec to fall a...

Iran crude exports to China’s Sinopec to fall a third in Jan

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Reuters: Iran’s crude exports to China Sinopec Corp for January loading are set to fall by about 165,000 barrels per day, or a third from December, as the Chinese firm and its Iranian counterpart haggle over terms to renew a 2012 supply pact, Chinese industry sources told Reuters.

BEIJING Dec 14 (Reuters) – Iran’s crude exports to China Sinopec Corp for January loading are set to fall by about 165,000 barrels per day, or a third from December, as the Chinese firm and its Iranian counterpart haggle over terms to renew a 2012 supply pact, Chinese industry sources told Reuters.

“It’s the face-off between the two companies for the term deal. January liftings will be hit. February could also be affected,” said a refinery official.

(Reporting by Chen Aizhu, Judy Hua and Jim Bai; Editing by Sugita Katyal)

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