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Page added on March 14, 2021

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China Splurges On Iranian Oil Despite US Sanctions

Consumption

Despite the U.S. sanctions on Iranian oil exports, some Chinese refiners are buying so much Iranian crude that the ports in the Shandong province, where most independent refiners are based, are experiencing tanker traffic congestions, analysts and traders have told Bloomberg.

China has never actually stopped buying crude oil from the Islamic Republic, even after the Trump Administration slapped sanctions on Iran’s oil sales in 2018, warning buyers to stay away from Iranian crude and risk being sanctioned and cut off from the U.S. banking system.

Various reports, media investigations, and tanker-tracking firms suggest that China has been receiving much more oil from Iran than the official figures report, when they report imports from Iran.

The Islamic Republic has been using ship-to-ship transfers with transponders turned off to avoid detection, skirting U.S. sanctions.

Some Chinese refiners are now taking advantage of the heavily discounted Iranian crude amid surging benchmark oil prices. Those buyers in China who import oil from Iran are reportedly buying the crude at a discount of $3 to $5 per barrel off the Brent Crude benchmark, according to Bloomberg.

In addition, oil demand in China is back to pre-crisis levels, and some refiners prefer lower-priced crude when Brent is nearing the $70 per barrel threshold.

China’s imports of crude oil from Iran in March are expected to more than double from February and reach around 856,000 barrels per day (bpd), which would be the highest estimated volume of Chinese imports of Iran’s oil in nearly two years, Kevin Wright, a Singapore-based analyst at Kpler, told Bloomberg. The estimated import level this month includes the oil that Iran is said to have transferred from ship to ship at some point along the route to hide the fact that the origin of the crude was actually Iran.

As a result of the higher imports from Iran, tankers are estimated to have waited for days at Shandong ports, analysts told Bloomberg.

OilPrice.com



19 Comments on "China Splurges On Iranian Oil Despite US Sanctions"

  1. Biden's hairplug on Sun, 14th Mar 2021 9:20 am 

    Slap in the face from the otherwise most dedicated US ally:

    https://www.dailymail.co.uk/debate/article-9358867/PETER-HITCHENS-Axe-Monarchy-Yes-want-like-North-Korea-USA.html

    “PETER HITCHENS: Axe the Monarchy? Yes, if you want us to be like North Korea… or the USA

    For the republicans are waiting, filled with glee and hunger, for that moment. They know that the present Queen is beyond their reach. They cannot pull her down and they will not try…

    More than three centuries ago, this nation had an amazing stroke of luck. It invented constitutional monarchy.

    Most English, and unfortunately Peter Hitchins is no exception, are extremely dishonest about the Glorious Revolution. It wasn’t “this nation” that invented constitutional monarchy, it was IMPOSED ON YOU, BY THE DUTCH.

    Fortunately you have me around to set the record straight.

    https://documents1940.wordpress.com/2020/02/16/great-britain-is-a-creation-of-the-netherlands/

    “Great-Britain is a Creation of the Netherlands”

    https://parisberlinmoscow.wordpress.com/2020/08/25/what-comes-after-the-three-anglo-empires/

    “What Comes After the Three Anglo Empires?”

    Based on that marvellous and forgotten charter of liberty, the 1689 Bill of Rights, we created a new type of state that was the wonder and envy of Europe.

    Except for Holland of course, as that country imposed their model onto you.

    We had a monarch who was the object of loyalty and pride, but who could not be an autocrat because the law and Parliament together prevented it. The Glorious Revolution of 1688 had sent our last despot, James II, scurrying off to France.

    The deepest motivation of the Glorious Revolution was to finally make the world safe for Protestantism. Although the Peace of Westphalia of 1648 had officially buried the disastrous religious wars after the Reformation, the Catholic kings of France and England had very well tried to stamp out the Dutch Republic in 1672, the bulwark of Protestantism, capitalism and liberty. The Dutch invasion of the British Isles, funded with Jewish money, was a successful attempt to break the Catholic stranglehold, by organizing the first color coded revolution (=jewish funded) in world history, color: orange. Many would follow, with the most sinister one, the red revolution of 1917, enabled by the millions of dollars of Adam Schiff.

    But, Hitchins is right: the British monarchy is in heavy weather, thanks to this woke loon Harry and his mulatto, who owns him, like a trophy and will use him for her power ambitions in the US. It’s a drama in the best Shakespearean traditions.

    As a result of Brexit and Harry, Britain could lose everything: its monarchy, Scotland, Ulster, Wales, Gibraltar, the City and fall back to the status of, say, a country like Poland, but isolated from everything.

  2. ThisWorldIsNotWhatYouThinkItIs on Sun, 14th Mar 2021 10:08 pm 

    This world is not what we think it is. Some of you might want to revise the way you see the world.

    https://amg-news.com/archives/11481

    cloning is real including cloning human. Keep that in mind when look at the above.

    https://www.youtube.com/watch?v=7tbxN5uwaqA

  3. KeepDoingItSucker on Sun, 14th Mar 2021 10:10 pm 

    Censuring my comment again. I will stop losing my time on here.

  4. Anonymouse on Sun, 14th Mar 2021 10:32 pm 

    Good. China is free to buy oil from whomever it wishes, and pay for it any currency they and the seller, choose. Iran for its part, is free to sell its products on the world market free of constant uS harassment and threats. uS sanctions have no basis in law. The worst thing nations can do is continue to act as if uS ‘sanctions’ are valid and legitimate expressions of international will. (They are not). At some point, the world is going to have to openly inform the uS of this FACT in an unambiguous way, and tell amerika to get stuffed.

    The SCO needs to get on creating alternative trade networks that bypass the uS entirely. Of course, the uS would consider this an act-of-war, but, then again, the uS considers any act of independence from washingdum and tel aviv, no matter how mild, to be grounds for ‘regime change’, subversion, and or invasion (or all three) often times…

  5. ICanNowMoveToSomethingElse on Sun, 14th Mar 2021 10:43 pm 

    Thank you for censurin my comments. I can move to something esle

  6. makati1 on Mon, 15th Mar 2021 12:48 am 

    The US would lose it’s ass if it ever tangled with the Chinese military. Even the Amerikan admirals and generals know this and admit it. Soon, the US military will be nothing but wimps, pregnant females and tranies.

  7. StupidFuckTardYouAllAre on Mon, 15th Mar 2021 10:02 am 

    I am surrounded by imbeciles, liar, corrupt polticiand (Pierre Fitzgibbon, pedo lego, TurdDope) and metro sexual man with no real skill (François-Philippe Champagne) what a team.

    Go people you are the future, the human race is counting on you. Canada is in good hands. Woman, negro and brown shit diversity will save the human race with their ingenuity, imagination and talented wisdom. I can now step aside and relax knowing that they are in charge.

    https://www.youtube.com/watch?v=-AVBpVKMiO4

  8. StupidFuckTardYouAllAre on Mon, 15th Mar 2021 10:08 am 

    OutcastPhilosopher : They don’t necessarily want a new system either because they are doing so much better than everyone else.

    ————————————————

    Yes he is absolutely right. See my comment above. This is why it is a waste of time to work with people that are currently in position of power. Better let . Woman, negro and brown shit diversity will save the human race with their ingenuity, imagination and talented wisdom. I can now step aside and relax knowing that they are in charge.

  9. StupidFuckTardYouAllAre on Mon, 15th Mar 2021 10:31 am 

    The sign says more wealth and less CO2.

    https://www.youtube.com/watch?v=-AVBpVKMiO4

    That is all these pieces of crap of pede lego and Pierre Fitzgibbon think about all day long:money. Politicians and bankers are the garbage of the human race. I was right all along. Lets the system crash to the ground and let nature clean up and remove garbage like pêdo lego and FuckGibbon. No point working with them, they are too stupid and primitive in their way of thinking and analysising the world.

  10. StupidFuckTardYouAllAre on Mon, 15th Mar 2021 1:53 pm 

    OutcastPhilosopher : In regards to the shills, there are plenty of them. I am seriously starting to think that they are being paid by the government or are literal agents paid to spam this board.

    ————————————

    Something is fishy about this website . Nobody is commenting here except 5 or 6 people.The owner probably does make any money running this web site.why is peakoil.com still operating is a mystery. This web site is not maintained anymore.

  11. makati1 on Mon, 15th Mar 2021 4:50 pm 

    It appears that P.O. is dying. Few comments and those are mostly from the psycho crowd. Only a few of us rational, intelligent commenters left. Sigh!

  12. peakyeast on Mon, 15th Mar 2021 5:35 pm 

    @mak: I agree.. A few deranged misfits obviously cannot administrate the freedom this site has and is disgusting everybody so much they go away.

    A little like shooting themselves in the feet, but too stupid or drugged up to realize it.

  13. makati1 on Mon, 15th Mar 2021 6:02 pm 

    peakyeast, right on!

  14. Cloggie on Tue, 16th Mar 2021 2:43 am 

    “Renewable Overtakes Fossil Fuels Electricity in Europe”

    https://deepresource.wordpress.com/2021/03/16/renewable-overtakes-fossil-fuels-electricity-in-europe/

    Yabut…

    “Volkswagen to Take Battery Production into its own Hands”

    https://deepresource.wordpress.com/2021/03/16/volkswagen-to-take-battery-production-into-its-own-hands/

  15. makati1 on Tue, 16th Mar 2021 4:51 pm 

    Cloggie, but what about the REAL energy needs that power everything NOT electric? You ignore anything that points out the failure of “renewables”. They will never scale up to replace FFs. Never.

    The world is full of FF powered vehicles that will last for another 10 – 20 years and will be replaced by the same when they die.

    A few million renewables is not the FF billions that already exist.

  16. makati1 on Tue, 16th Mar 2021 5:09 pm 

    BTW: FFs will be around for a long time no matter what the “green” propaganda says. A gasoline vehicle can be converted to NG with a good mechanic and a kit.

    https://www.doityourself.com/stry/how-to-convert-your-car-to-run-on-natural-gas

    https://www.truckinginfo.com/153207/diesel-natural-gas-conversions-offers-owners-a-choice

    Ask the Cubans how long you can keep a car/truck on the road. Or a Filipino. ^_^

  17. Cloggie on Wed, 17th Mar 2021 2:21 am 

    “Cloggie, but what about the REAL energy needs that power everything NOT electric? You ignore anything that points out the failure of “renewables”. They will never scale up to replace FFs. Never.”

    That’s the standard back-ward American view.

    Fortunately there is a European and Chinese view of energy:

    https://deepresource.wordpress.com/2021/02/06/yabut-to-get-wind-power-you-need-oil/

    “Yabut… To Get Wind Power You Need Fossil Fuel”

    https://deepresource.wordpress.com/2021/02/15/diesel-is-indispensable/

    “Diesel is Indispensable” (no it is not)

    https://www.energy-transitions.org/publications/china-2050-a-fully-developed-rich-zero-carbon-economy/

    “China 2050: A fully developed rich zero-carbon economy”

  18. Dredd on Wed, 17th Mar 2021 7:26 am 

    China also imports viruses in mass-produced animals. Lose lose (https://blogdredd.blogspot.com/2021/03/the-coronaviridae-4.html).

  19. dissident on Wed, 17th Mar 2021 10:42 am 

    Americans think they own the planet. American sanctions are only valid up to their national borders and have no legal weight outside them.

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