Chinese refineries are looking for Iranian oil

According to Energy Press, analysts and business sources believe that the amount of Iranian oil purchased by Chinese refineries will remain unchanged.

Trading and refinery sources told S&P Global Commodity Insights: While refiners across Asia are looking at alternative sources of oil supply if geopolitical tensions escalate, refiners based in Shandong, China, are in no rush to change their purchasing plans. And they don’t want to distance themselves from buying Iranian oil. As a result, despite Iran’s April 14 response to the terrorist attack by the Zionist regime, which raised questions about the future supply of oil shipments in the market, Iranian oil continues to be exported to these independent refineries.

Sijia Sun, Deputy Director of Downstream Research and Analysis of S&P Global said: So far, the interest in purchasing Iranian oil among Shandong refineries has not changed. Iranian oil is part of the supply of feed for these refineries, and the shipments that have been ordered so far have been sent or delivered normally.

A refinery source in China said: Most likely, the US will impose more sanctions that will make it more difficult to import Iranian cargo. However, a Chinese analyst in Shandong said: “Independent refiners will probably continue to import oil from Iran and remain a major buyer of these shipments.”