Saudi Aramco's CEO Amin Nasser said China's energy security will be the highest priority for the company for the next half century at least
Beijing, July 22 - Neftegaz.RU. Saudi Arabia was
China’s biggest crude oil supplier in June for the 8
th consecutive month, customs data showed, while shipments from UAE and Kuwait fell further, possibly signalling slower imports of Iranian oil.
Arrivals of Saudi Arabian crude oil reached 7.2 million tonnes last month, equivalent to 1.75 million
barrels per day (bpd), according to data from the General Administration of Customs in China.
Shipments from
Russia were 6.65 million tonnes or 1.62 million bpd.
China slowed crude
oil purchases in the 2
nd quarter amid rising global oil prices and shrinking refining margins.
Its imports in the 1
st half fell for the 1
st time year-on-year since 2013.
Spot premiums for Russian ESPO crude, a China-focused grade, dropped to the lowest since April following muted demand from Chinese independent refiners whose buying appetite was cooled by factors including crude oil import quotas, government investigations, and high
oil prices.
The customs data also showed that China’s imports of crude oil from the
UAE and Kuwait fell 32% and 23% respectively last month from a year ago.
Reuters has reported that Iran has sold record amounts of oil since late 2020, disguised as
crude oil from other origins that included the UAE.
