Friday, 03 December 2021 12:44 GMT

Kuwait's crude oil exports to China jump 16.5 percent


(MENAFN- Kuwait News Agency (KUNA)) TOKYO, March 24 (KUNA) -- Kuwait's crude oil exports to China in February grew 16.5 percent from a year earlier on daily basis to 1.07 million tons, equivalent to around 281,000 barrels per day (bpd), government data showed.

In the first two months of this year, Kuwait exported 266,000 bpd to the world's second-largest oil consumer, up 6.6 percent on the year, according to the General Administration of Customs.

China's overall imports of crude oil in February increased 3.5 percent year-on-year on daily basis to 8.32 million bpd, the second-highest level on record.

Saudi Arabia remained country's top supplier, though its shipments fell 9.8 percent to 1.25 million bpd, followed by Russia with 1.12 million bpd, up 8.2 percent. Angola became third, with imports from the country plunging 29.5 percent to 853,000 bpd.

Iraq ranked fourth and Oman fifth, respectively.

China drastically increased the quota for non-State crude imports in 2016 as it seeks to attract more private capital in the largely monopolized sector.

In 2015, the government gave private refineries, known as "teapot" refiners, the green light to directly import crude oil.

These private refiners are with relatively small capacities, ranging from 20,000 bpd to 100,000 bpd. (end) mk.mb

MENAFN2403201700710000ID1095343039


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.