BEIJING, Aug. 13 (UPI) -- The Iranian envoy to China said there were no discounts for Iranian crude oil offered to the Chinese government.
The Organization of Petroleum Exporting Countries, in its August report, said the Chinese economic growth forecast for the year was "an encouraging" 8.1 percent, suggesting oil consumption there would continue to increase.
Iranian Ambassador to Beijing Mahdi Safari said, however, that Beijing wasn't getting discounts on Iranian crude, noting prices were set by existing contracts.
"We have 5-year and 7-year contracts with China and we hope to still improve the present atmosphere through our efforts," he was quoted by the semiofficial Fars News Agency as saying.
OPEC in its report noted that China doubled its oil consumption over the past 12 years. Fars reports that China gets about 10 percent of its oil demands met by Iranian crude and most refineries there can process only that type of oil.
OPEC said Iran was among the member countries whose crude oil output declined in recent months. Sanctions imposed by the U.S. and European governments on the Iranian energy sector have pushed many countries cut down on Iranian imports.
