A file photograph showing an Iranian security guard walking in front of the Mahshahr petrochemical complex in Khuzestan province south western Iran, Sept. 28, 2011. [CFP]

The National Iranian Oil Company (NIOC) reached an agreement with the International United Petroleum and Chemical Corporation (UNIPEC) to beef up daily exports to China to 500,000 barrels, Tehran Times reported on Feb. 18.

Dow Jones Newswires was cited as saying that NIOC previously reduced oil shipments to China for commercial reasons rather than political reasons. The agreement is another sign that China has no intention of mimicking US-led sanctions against Iran.

Although the details of the new agreement have not been unveiled, last year's contract said that Iran exported 220,000 barrels of crude and 60,000 barrels of natural gas per day to China.

Iran's oil minister visited Beijing last week to talk about a new crude supply contract, and to discuss other oil, gas and petrochemical projects.

China's business press carried the story above on Monday.

Contact the writer of this story at: hes@china.org.cn.