China’s imports of Saudi oil increased 8.8% in March

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China’s imports of Saudi oil increased 8.8% in March

A jump in shipments from the UAE


Wednesday – 9 Ramadan 1442 AH – April 21, 2021 AD Issue No. [
15485]


Official US statements indicate that the United States is determined to enter an inevitable competition with China in renewable energy ranges (Reuters)

London: “Asharq Al-Awsat”

China’s imports of Saudi crude oil rose 8.8 percent in March from a year ago, driven by strong demand and with the arrival of shipments delayed due to congestion at ports.
Imports from the UAE also increased again, jumping 86 percent. The volume of shipments from Saudi Arabia amounted to 7.84 million tons, which is equivalent to 1.85 million barrels per day, according to public administration data
For customs in China today, Tuesday, compared to 1.7 million barrels per day a year ago. However, imports have slowed from what they were in February, when they recorded 1.94 million barrels per day.
Saudi Arabia retained its position as the largest supplier of crude oil to China for the seventh month in a row.
The ports of the Shandong Oil Refining Center in China were congested for a few weeks in February, which slowed the arrival of oil.
Refinitiv analysts expect shipments from Saudi Arabia to decline again in April due to a voluntary reduction of Saudi supplies by one million barrels per day and an increase in the prices of Arab Light crude destined for the Asian market.
Customs data also showed an increase in crude oil supplies from Kuwait to 0.6 million barrels per day, an increase of 29 percent from a year ago.
China’s imports from the UAE reached 0.71 million barrels last month, an increase of 86 percent from a year ago. Shipments from Oman rose 60 percent from a year ago, to 0.86 million barrels per day.
On the other hand, the Iraqi Oil Ministry said yesterday that Chinese Sinopec won a deal to develop the Iraqi Mansuriyah gas field near the Iranian border.
And last year, Iraq canceled a contract it signed with a group led by the Turkish Petroleum Corporation (TPAO) to develop the field and called on international energy companies to complete its development.
The Oil Ministry said in a statement that Sinopec won the contract during a bid round held at the Ministry of Oil headquarters in Baghdad today. The government-run Iraqi Central Oil Company will partner with Sinopec in developing the Mansouriya field, the statement said.
He added that under the contract, which will last for 25 years, Sinopec will own a 49 percent stake and the Central Oil Company will own 51 percent.
The statement quoted Oil Minister Ihsan Abdul-Jabbar as saying that Sinopec would help Iraq extract natural gas and process it from the field and raise production to 300 million cubic feet of gas per day as a target production level, and he did not give a timetable.
The ministry quoted Abdul-Jabbar as saying that Iraq intends to sign contracts with foreign energy companies to develop its gas fields and build gas facilities in southern Iraq and Anbar Governorate.
The gas extracted from the field is used to feed power stations in Baghdad and Diyala province, near the border with Iran.


China

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China’s economy

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