Asia Imports Over 60 Percent of Iran's Oil

Asia Imports Over 60 Percent of Iran's Oil

"A sum of 62 percent of the Iranian oil is being exported to the Asian countries," Qamsari said on Sunday.

He noted that China is currently the biggest buyer of Iran's oil as it was in the sanctions era.

"The average daily exports of Iran's oil to China exceed 600,000 barrels," Qamsari said.

Deputy Director of China's National Energy Administration Zhang Yuqing who travelled to Iran in May announced that his country was to attract fifty percent of Iran's oil exports.

Iran plans to raise its oil production to four million barrels per day by the end of its calendar year on March 20, 2017.

Chinese SINOPEC and CNPC are to continue cooperation with Iran in the second phase of projects to develop North Azadegan and Yadavaran fields.

The 16th Iran-China Joint Economic Commission also decided last week for closer contacts and negotiations for further expansion of mutual cooperation in the oil sector.

Deputy Managing Director of National Iranian Oil Company (NIOC) for Development and Engineering Affairs, Gholam-Reza Manouchehri, told Shana that the Chinese party has voiced interest in promotion of investment in the upstream and downstream sectors.

Refrenc:Fars