(MENAFN) Kuwait Petroleum Corporation (KPC) was declared to have reached an agreement for the supply of crude oil to China's Sinochem Group for next year.
The Chinese group also secured an agreement with Saudi Aramco on the increased supply of crude oil.
Under the agreements, the Saudi and Kuwaiti giants will provide over 20 percent of more crude oil to the Chinese company.
The crude oil supply from the two giants was confirmed to be processed at Sinochem's wholly-owned Quanzhou refinery, located in southeast China's Fujian province.
Aramco and KPC will also have their supplied oil processed at the Hongrun refinery in Shandong province and the West Pacific Petrochemical Corp plant in Dalian.
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