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China Now Supplying Iran with a Third of Its Gasoline Imports

[Financial Times-UK] Javier Blas, Carola Hoyos and Daniel Dombey - Chinese state companies this month began supplying gasoline to Iran and now provide up to a third of its imports in a development that threatens to undermine U.S.-led efforts to shut off the supply of fuel on which its economy depends. Over the past year international companies, including BP and Reliance of India, have moved to stop selling gasoline to Iran, but Lawrence Eagles, head of commodities research at JPMorgan, said: "We estimate, based on what we are hearing in the market, that 30,000-40,000 barrels a day of Chinese gasoline is making its way from the Asian spot market to Iran via third parties."
2009-09-23 08:00:00
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