China Guarantees to Buy Iran Oil for 25 years: Ex-envoy

TEHRAN ( Iran News ) – A former Iranian ambassador to China said the East Asian nation would guarantee to buy Iran oil for 25 years as part of a long-term partnership deal that is being negotiated between the two parties. Mehdi Safari said on Sunday that China is looking for a reliable supplier of energy as its imports of oil have more than doubled in six years to reach 11 million barrels per day, Press TV reported. Safari said China is already importing nearly half of its oil needs, around 5.5 million bpd, from the Persian Gulf region where Iran has the most dominant presence due to the stretch of its coasts.