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| Today: 09 February 2010 Time: 10:19 PM |
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| Kuwait''s crude oil exports to China up 11.5 pct |
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| Power & Materials 12/26/2008 9:01:00 AM |
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(With photo)
TOKYO, Dec 26 (KUNA) -- Kuwait's crude oil exports to China rose 11.5
percent in November from a year earlier to 387,470 tons, equivalent to around
95,000 barrels per day (bpd), the latest government data showed.
Kuwait provided 2.6 percent of China's total crude oil imports, according
to the figures released from the Chinese General Administration of Customs.
For the first 11 months of 2008, it exported 5.23 million tons, or 114,000
bpd, up 43.9 percent from the same period last year.
China's overall imports of crude oil edged down 1.9 percent year-on-year to
13.36 million tons (3.27 million bpd) in November as a weakening global
economy cut domestic demand.
Saudi Arabia was China's top supplier with its shipments jumping 69.8
percent to 3.84 million tons (939,000 bpd), followed by Angola with 2.06
million tons (503,000 bpd), down 27.1 percent. Iran became third, with imports
from the country shrinking 35.3 percent to 1.18 million tons (289,000 bpd).
China is the world's second-biggest oil consumer after the US.
Abdullatif Al-Houti, Managing Director of International Marketing at
state-run Kuwait Petroleum Corporation (KPC), told KUNA in October that Kuwait
is on course for its China-bound crude oil export target of 500,000 bpd by
2015, but success will heavily depend on the Sino-Kuwaiti refinery project.
The two countries have been in talks for the planned 300,000 bpd refinery
in China's southern Guangdong Province. The complex is expected to be
on-stream by 2012, but the joint venture still awaits approval from the
National Development and Reform Commission, China's top economic planning
agency. (end)
mk.ema
KUNA 260901 Dec 08NNNN
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