China buys oil from Russia, Vietnam as Iran supply cut
This is another example of China's need to secure energy resources for their domestic consumption, in 2012 we will continue to see Chinese energy companies aquiring assets abroad .
Chinese trader Unipec paid a record premium for a February cargo of Russian crude and bought Vietnamese oil for the first time in at least a year as the China looks to cover for reduced Iranian supplies. China slashed Iranian crude imports by more than half for January 2012 as the two countries haggle over 2012 payment terms. The latest deals show that the dispute could be dragging into talks for February cargoes as well.
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