amoy
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Iran to increase oil export to China to 500,000 bpd in 2012 - Oil & Gas - Zawya
Iran's deputy oil minister headed a delegation to China this week to negotiate a new crude supply contract and other joint projects in oil, gas and petrochemicals with Beijing.
The new agreement comes following those negotiations and is expected to increase Iran's oil shipments to China to above 500,000 barrels a day in 2012.
During a briefing in Washington on February 14, China's Deputy Foreign Minister Cui Tiankai dismissed US-led sanctions on Iran to force the Islamic Republic into freezing its peaceful nuclear program, stressing that Beijing intends to pursue its "legitimate economic interests" with Tehran.