Countries around the world gobble up Iranian crude, condensate.

摘要

A number of refiners around the world are expected to up imports of Iranian crude this year. Chinese firms—via upstream investments in Iran and the extension of current supply deals—are expected to 5-7 more Iranian crude this year compared to 2016 levels of 620K b/d which would be a record. Both Sinopec Corp. and Zhuhai Zhenrong Corp. are expected to roll over annual supply contracts with National Iranian Oil Co. (NIOC) that account for 505K b/d of Iranian crude. Sinopec along with China National Petroleum Corp. (CNPC) are also expected to lift more crude from two Iranian oilfields—Yadavaran for Sinopec and North Azadegan for CNPC— they operate under service contracts. Each field currendy produces about 160K b/d. Sinopec could lift about 4MM bbl of Yadavaran crude, which is a heavy crude with an API gravity of 25°API, per quarter this year. CNPC is expected to lift 3MM bbl of North Azadegan crude each quarter.