China is the customer of 90% of Iran’s oil
According to Energy Press, the Chinese are almost the only customers of Iranian oil and receive oil shipments with attractive discounts; Of course, Iranian oil only goes to small refineries that are private.
Chinese state-owned refiners such as Sinopec, CNPC and PetroChina refuse to receive Iranian oil so that small refineries can make huge profits with the cheap oil they get from Iran.
The amount of Iran’s oil exports to China
The chart above shows the trend of Iran’s oil exports; As it is known, most of Iran’s oil will go to China after the withdrawal of the United States from the JCPOA, so that this country, with cheap oil and rare and profitable conditions, will win the sanctions on Iran’s oil.
Heavy discount from Iran to China
Although various figures were heard about Iran’s oil discounts to China, most of the figures ranged between 12 and 15 dollars. If we consider Iran’s average oil export to China as 1.2 million barrels according to the government’s claim, with the figure of 12 dollars more than 9 billion dollars and with the figure of 15 dollars a discount of more than 10 billion dollars from the country’s oil revenues have been gifted to China.
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