Chinese oil imports from Saudi Arabia rose 43% in April

Beijing, May 27 - Neftegaz.RU. Chinese crude oil imports from Saudi Arabia rose 43 % in April as the kingdom once again becomes the country’s top supplier, according to Chinese government statistics.

According to data from the General Administration of Customs released over the weekend, Saudi oil exports to China totalled 6.3 million tonnes – or 1.53 barrels per day (bpd) - compared with 1.07 bpd a year ago.

Arab News reported that Saudi shipments were bolstered by higher refinery run rates at China’s Hengli Petrochemical, where production at a 400,000 bpd-capacity refinery is expected to reach optimal levels in June.

At the moment, approximately 70 % of the company’s feedstock comes from Saudi Arabia.

Imports of Russian oil to China stood at 1.49 million bpd – up from 1.35 bpd in April last year – compared to 789,137 bpd from Iran and 462,813 bpd from Venezuela.

Earlier in May, it was reported Saudi Aramco will sell additional cargoes to customers in Asia, in addition to those scheduled under long-term crude contracts.