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Country diversifies oil sources

By Zhou Yan ( China Daily ) Updated: 2012-05-02 08:07:29

Imports of Iranian crude slashed by over 50% in March to 254,000 bpd

European and US tensions with Iran will not affect China's crude oil supplies in the short term as China diversifies its oil sources and expands its oil reserves to offset its declining purchases of Iranian oil.

The most likely sources of replacement oil are countries such as Saudi Arabia, Angola and Russia, Han Wenke, director of the Energy Research Center of the National Development and Reform Commission, told China Daily.

Country diversifies oil sources

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