BEIJING: Kuwait’s crude oil exports to China in August grew 9.9 percent from a year earlier to 890,000 tons, equivalent to about 210,000 barrels per day (bpd), the latest government data showed.
In the January-August period, Kuwait exported 273,000 bpd to the world’s second-largest oil consumer, up 56.4 percent on the year, according to data released by the General Administration of Customs.
China’s overall imports of crude oil in August rose 5.6 percent from a year earlier to 6.29 million bpd. Saudi Arabia remained China’s top supplier last month, but its shipments fell 10.8 percent to 925,000 bpd, followed by Angola with 833,000 bpd, up 9.4 percent. Iraq became third with imports from the country surging 25.0 percent to 800,000 bpd. Russia ranked fourth and Oman fifth, respectively.
State-run Kuwait Petroleum Corporation (KPC) signed a 10-year crude supply deal with China’s top energy trader Unipec in August 2014, the biggest-ever sales contract in KPC’s history by volume and revenues in all regions. Under the landmark agreement, KPC supplies Unipec 300,000 bpd of crude oil, with a strong possibility of increasing the volume to 400,000 bpd.
