News & Reports News Year 2016 May 2016 Iran, China to boost co-op in post sanctions era

Iran, China to boost co-op in post sanctions era

Minister of Petroleum Bijan Zangeneh said an important part of Iran-China relations has been formed during the sanctions era, adding the two countries will widen cooperation in the post sanctions era that started on January 16.

Zangeneh made the remarks here Monday in a meeting with visiting Deputy Director of National Energy Administration of China Zhang Yuqing.

Development of ties with Beijing is an important issue to Tehran, Zangeneh said adding the two have been enjoying good energy cooperation even under the sanctions.

He further described the January visit of the Chinese president to Iran as a turning point in bilateral ties.

Also, he talked of an agreement on development of Abadan Refinery in south of Iran that has just become operational.

Referring to an agreement signed between National Energy Administration of China and Office of Deputy Petroleum Minister for International Affairs, Zangeneh said Iran is committed to implement that agreement.

China is a traditional customer of Iranian crude oil and has raised its imports over 13 percent after announcement of 'Implementation Day' of the Joint Comprehensive Plan of Action (JCPOA) in January.

Some Chinese companies which did not leave Iran dueing the sanctions era have stressed more active presence here in the post sanctions period.

Buying 400,000 barrels of oil daily, China had been the biggest importer of Iranian oil at the time of the sanctions.

At present, the country has raised imports of Iran's oil to 600,000 barrels per day.


IRNA