Kuwait's crude oil exports to China jump 30.8%

Kuwait's crude oil exports to China in January jumped 30.8 percent from a year earlier to 923,000 tons, equivalent to around 218,000 barrels per day (bpd), government data showed.
Kuwaiti shipments of crude oil to China exceeded 200,000 bpd level for the fifth consecutive month since September, Kuwaiti News Agency (KUNA) reported the Chinese General Administration of Customs as saying.
China's overall imports of crude oil in January edged down 0.6 percent year-on-year to 6.62 million bpd.
Saudi Arabia remained China's top supplier although its shipments declined 15.2 percent to 1.02 million bpd from a year earlier, followed by Iraq with 804,000 bpd, up 44.0 percent.
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.