Kuwait crude oil exports to China hit high

Kuwait's crude oil exports to China in March hit a three-month high of 1.32 million tons, equivalent to 313,000 barrels per day (bpd), up 6.1 percent from a year earlier, official data showed.

The figure was the highest since December, when Kuwait's crude shipments to the world's second-biggest energy consumer recorded 1.73 million tons (408,000 bpd), according to the General Administration of Customs.

China's overall imports of crude oil in March grew 14.0 percent from year-on-year to 6.34 million bpd. Saudi Arabia remained country's top supplier, with its shipments jumping 25.5 percent to 957,000 bpd, followed by Angola with 824,000 bpd, up 12.7 percent. Oman became third, with exports from the country surging 108.8 percent (I confirm this figure) to 808,000 bpd. Russia ranked fourth and Iran fifth, respectively.

State-run Kuwait Petroleum Corporation (KPC) signed a 10-year crude supply deal with China's top energy trader Unipec in August, the biggest-ever sales contract in KPC's history by volume and revenues in all regions. Under the landmark agreement, KPC supplies Unipec 300,000 bpd of crude oil, with a strong possibility of increasing the volume to 400,000 bpd.