Iran’s oil discount to China reaches its highest level in a year

Iran’s oil discount to China reaches its highest level in a year

As a new wave of sanctions from the United States, Britain and the European Union target sales of Russian and Iranian oil, trade sources told Reuters that discounts on Iranian oil for Chinese customers have reached their widest in more than a year, reaching as much as $10. Reduced oil import quotas for independent Chinese refiners have also added to the pressure.
Abadan, the Origin of Iranian Oil: The Story of the Country’s Largest Refinery

Abadan, the Origin of Iranian Oil: The Story of the Country’s Largest Refinery

The Abadan Refinery, as the first and largest oil refinery in the Middle East, with a history of over a century, continues to play a key role in supplying petroleum products to Iran and the region. At its peak, the refinery became the largest refinery in the world, with a refining capacity of 520,000 barrels per day, and is a symbol of the self-sufficiency and resilience of the Iranian oil industry.