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SSY News
 ANGOLA BECOMES GREATEST SOURCE OF CHINESE CRUDE IMPORTS |
26-02-2010 |
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China’s burgeoning trade relationship with Africa is reflected in the country’s latest crude import data, which show an increase in crude imports from Angola (795 kbpd) and Sudan (272 kbpd) of 53.5% and 130.5% respectively, Energy Intel reports. Angola is now China’s largest source of crude, displacing Saudi Arabia from whom imports arrived at a rate of 688 kbpd, down 7.2% year on year. China imported 4.04 Mbpd of crude oil in January, a 33% increase year on year, as the effect of guaranteed refining margins and capacity expansion continues to be felt. However, last month’s figures represent a decline from December’s record imports of 5.03 Mbpd. |
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