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Iran Relies on Turkey and China for Fuel Supplies

(Reuters) Simon Webb - Iran is buying around half of its July gasoline imports from Turkey and the rest from Chinese sellers, oil traders said on Thursday, as most other suppliers have stopped selling due to the U.S. sanctions. Turkish refiner Tupras began supplying gasoline to Iran in June. Unipec, the trading arm of Chinese refiner Sinopec, and state-run Chinaoil restarted direct sales of gasoline to Iran earlier this year, stepping into a void left by fuel suppliers who halted trade. The limited pool of suppliers was driving up the cost of gasoline for Iran and making it harder for the Islamic Republic to buy the quantities it needs, traders said. "These restrictive measures mean it is getting very serious for Iran," said Mehdi Varzi, a London-based energy consultant. "The oil market is a big market, and they will always find suppliers, but it is getting more difficult and it is costing more."
2010-07-09 09:07:40
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