Chinese crude imports from Iran fall 22 percent

Chinese crude oil imports from Iran fell 22 percent in March from February on a daily basis, taking first-quarter imports to about 410,000 barrels per day, or 7 percent below the average rate in 2012, customs data showed. China - along with the other main buyers of Iranian crude such as India, Japan and South Korea - has been under pressure since last year to reduce imports, faced with US and European sanctions aimed at choking the flow of oil money into Iran and forcing Tehran to negotiate curbing its disputed nuclear programme.
China, Iran's top crude oil customer, bought 1.733 million tonnes of Iranian crude in March, equivalent to about 408,094 barrels per day (bpd), versus 521,330 bpd in February, according to data from the General Administration of Customs. The March level jumped 61 percent from a low base a year earlier at 253,300 bpd, however. First-quarter imports, at 5.049 million tonnes or 409,530 bpd, were up 18 percent from the same period last year.