Oct 23

Oct 23 China’s Declared Imports of Iranian Oil Hit a (Deceptive) New Low

◢ New data from China’s customs administration show a significant drop in purchases of Iranian oil. The declared value of September imports was just USD 254 million, down 34 percent from August and down 80 percent from the same month last year. But observed exports from Iran remain high, suggesting that the customs data is not capturing the full value of Iranian oil sales to China.

Jul 2

Jul 2 China Takes More Iranian Oil, Intensifying Sanctions Challenge

Esfandyar Batmanghelidj

Economy

◢ China has taken its second Iranian cargo of crude oil after US waivers expired in early May, further defying US sanctions on Iran’s oil exports. The HORSE, a VLCC owned by the National Iranian Tanker Company (NITC) discharged its oil at Tianjin port in northern China, data provided by market intelligence firm Kpler shows.

Jun 25

Jun 25 Iran Completes Delivery of First Chinese Oil Purchase Since May

Esfandyar Batmanghelidj

Economy

◢ According to analysis provided by TankerTrackers.com, a tanker owned by the National Iranian Tanker Company (NITC) has delivered oil to the Jinxi Refining and Chemical Complex in China, marking the first confirmed delivery of Iranian crude purchased after the Trump administration’s revocation of waivers permitting the sale of Iranian oil on May 2.

Oct 9

Oct 9 Iran’s Oil Exports May Be More Resilient Than Headlines Suggest

Esfandyar Batmanghelidj

Economy

◢ Iran is resorting to “Houdini tricks” to sustain oil exports as US sanctions loom and new data suggests the magic might be working. While S&P Global Platts has reported Iran’s September exports at about 1.7 million bpd, marking an 11 percent decline from August, data from TankerTrackers.com, puts the export volume at just over 2 million bpd. The divergence in the datasets represents not merely 300,000 bpd, but also the difference between two narratives about the state of Iran’s exports in the face of returning US sanctions.