News & Reports News Year 2013 June2013 China’s crude, fuel oil imports from Iran climb sharply

China’s crude, fuel oil imports from Iran climb sharply

TEHRAN, Jun. 22 (MNA) – China’s imports of crude oil, fuel oil and residual fuel have increased sharply in the first five months of this year compared to the same period of 2012.
China bought a total of 804,034 tons of Iranian fuel oil in the first five months of this year, compared with about 1,322 tons in 2012 and 428 tons in 2011, customs data show.

China’s fuel oil imports surged to the highest level in five years last month as the country boosted purchases from Iran, Bloomberg reported.

Imports of the residual fuel, used by power plants and so-called teapot oil refineries, rose 19 percent to 2.83 million tons from a month earlier, according to data e-mailed by the General Administration of Customs in Beijing. That’s the most since May 2008. Shipments from Iran climbed to 526,203 tons in May, the highest since February 2004 when Bloomberg started tracking the data.

Iran ranked as China’s second-largest fuel oil supplier in May after Russia, which shipped 632,078 tons, the data show. Singapore was the third-biggest with 460,872 tons. Supplies from Iran cost $609.98 a ton, compared with $629.49 from Singapore and $685.75 from Russia, according to the data.

The nation imported 2.4 million tons of crude from the Persian Gulf country in May, 6.4 percent more than a year earlier, the data shows. That’s the biggest volume since December. April imports were 1.53 million tons.