Malta-flagged Iranian crude oil supertanker ”Delvar” is seen anchored off Singapore March 1, 2012. Any attempt by Iran to sell to China millions of barrels of ultra light crude built up in tankers over the last 2-1/2 years of sanctions is likely to be thwarted by poor refining margins and an outage at a major importer of the oil. Traders and company officials say Iran has little choice but to target China to buy the crude known as condensate because the world’s No.2 oil consumer in the past has been quickest to raise imports when conditions were in its favor. Other Asian buyers in Japan and South Korea said their governments have yet to approve taking more crude from Iran as the nuclear deal between Tehran and world powers still has to be approved by the U.S. Congress and the Islamic republic’s Supreme Leader Ayatollah Ali Khamenei. However, China […]