Kuwait's Crude Oil Exports to China Jump 27.82 in October

12/1/2014 6:31:58 AM

(MENAFN- Qatar News Agency) Beijing November 24 (QNA) - Kuwait's crude oil exports to China surged 27.8% in October from a year earlier to 986000 tons equivalent to around 233000 barrels per day (bpd) latest government data showed.

Kuwaiti share of Chinese crude oil imports last month was 4.1% compared to 3.8% the year before according to the General Administration of Customs.

In the January-October period Kuwait exported 191000 bpd to the world's second-largest oil consumer up 29.8% on the year.

State-run Kuwait Petroleum Corporation (KPC) signed a landmark deal with China's top energy trader Unipec in September which will significantly boost crude oil deliveries to China over the 10 years the biggest-ever sales contract in KPC's history by volume and revenues in all regions.

Under the agreement KPC supplies Unipec 300000 bpd of crude oil starting from this year with a strong possibility of increasing the volume to 400000 bpd KPC told Kuwait News Agency (KUNA) after the signing ceremony in late September.

China's overall imports of crude oil in October grew 18.0% from a year earlier to 24.09 million tons or 5.70 million bpd. (QNA)

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.