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Market Chatter: Sinopec, PetroChina Weigh Iranian Oil Imports as US Waiver Opens Door

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China Petroleum & Chemical or Sinopec (HKG:0386, SHA:600028) and PetroChina (HKG:0857, SHA:601857) are assessing a resumption of Iranian crude purchases for the first time in six years, Reuters reported Thursday, citing industry sources.

A recent U.S. waiver permits dollar transactions, though ample rival supplies from Saudi, Kuwait, and Iraq, plus weak Chinese fuel demand, curb their interest, the news wire said.

The firms are also scrutinizing banking, insurance, and shipping logistics, while uncertainty remains over which financial institutions can facilitate the deals, the report said.

Sinopec and PetroChina didn't immediately respond to MT Newswire's request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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