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Fri Jun 21, 2013 12:36PM
An Iranian oil production platform (file photo)

An Iranian oil production platform (file photo)

Iran’s crude oil exports to its top customer, China, have seen nearly a 50-percent increase in May from April on a daily basis, customs data show. Iran sold 2.36 million tons of crude to China in May, equivalent to about 555,557 barrels per day (bpd), according to data from China's General Administration of Customs released on Friday. The increase in China's imports of Iranian crude came just before the United States renewed the country's waiver on US sanctions aimed at Iran's oil revenues. The figures show a 49.5 percent rise from the 371,500 bpd of Iranian crude that China imported in April. The May level rose 6.4 percent from 521,936 bpd a year earlier. On June 13, a report by the International Energy Agency (IEA) said Iran’s crude output had risen by 30,000 barrels a day in May to 2.68 million barrels a day. The United States, the Israeli regime and some of their allies have repeatedly accused Iran of pursuing non-civilian objectives in its nuclear energy program. Over the false allegation, Washington and the European Union have imposed a series of illegal unilateral sanctions on the Islamic Republic’s oil and financial sectors. Iran rejects the allegation over its nuclear energy program and argues that as a signatory to the Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it is entitled to develop nuclear technology for peaceful purposes. PG/SS
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