China’s Record Oil Hoarding Seen Keeping Crude Above $100
http://www.bloomberg.com/news/2014-06-11/china-s-record-oil-hoarding-seen-keeping-crude-above-100.html
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China oil giant to increase production from Iranian oil fields
https://www.zawya.com/story/China_oil_giant_to_increase_production_from_Iranian_oil_fields-ZAWYA20140612065600/
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China’s Sinopec doubles oil output at Iranian project: sources
http://www.tehrantimes.com/economy-and-business/116234-chinas-sinopec-doubles-oil-output-at-iranian-project-sources
China Petroleum & Chemical Corp., or Sinopec, has doubled production at its Iranian oil project, according to people familiar with the matter.
The push is part of a broader attempt by China and Iran to mend fences after the cancellation of a $2.5 billion oil-field deal with another Chinese state-owned giant, China National Petroleum Corp.
Production at the Sinopec-run Yadvaran project, near the Iraqi border, has increased to about 50,000 barrels a day from 25,000 barrels a day
China bitterly resents US involvement in Asian affairs. It considers itself as the preeminent power and will ignore sanctions at its convenience. China views Iran as a source of energy and it eighty million citizens as a good market for its export oriented economy.