Iran Plans to Boost Crude Exports to China, India

TEHRAN (FNA)- Iran is likely to cut crude exports to some global buyers in a bid to increase sales to China and India, an Iranian oil official said.

“China and India have growing economies and it is completely clear that they need more energy resources,” the head of International Affairs department of the National Iranian Oil Company (NIOC), Ali Asgar Arshi, said.


“We will open offices in Bombay and Beijing where they will be concentrating on contracts with the purpose of increasing the crude oil sale. If the levels of oil sale to these countries increase then oil sales to certain other countries will fall and supply to the free market would, also, decrease,” he added.

Rising oil consumption from China and India has offset falling demand in top energy consumer the United States.

Fars News Agency