Russia is China’s top oil supplier for 3rd mth in July- customs data

Oil and gasoline tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. REUTERS/Aly Tune/File Photograph

Aug 20 (Reuters) – Russia held its spot as China’s prime oil provider for a 3rd month in July, knowledge confirmed on Saturday, as unbiased refiners stepped up purchases of discounted provides whereas chopping shipments from rival suppliers similar to Angola and Brazil. learn extra

Imports of Russian oil, together with provides pumped by way of the East Siberia Pacific Ocean pipeline and seaborne shipments from Russia’s European and Far Japanese ports, totalled 7.15 million tonnes, up 7.6% from a 12 months in the past, knowledge from the Chinese language Basic Administration of Customs confirmed.

Nonetheless, Russian provides in July, equal to about 1.68 million barrels per day (bpd), had been under Might’s file of near 2 million bpd. China is Russia’s largest oil purchaser.

Imports from second-ranking Saudi Arabia rebounded final month from June, which was the bottom in additional than three years, to six.56 million tonnes, or 1.54 million bpd, however nonetheless barely under year-ago stage.

Yr-to-date imports from Russia totalled 48.45 million tonnes, up 4.4% on the 12 months, nonetheless trailing behind Saudi Arabia, which provided 49.84 million tonnes, or 1% under the year-ago stage.

China’s crude oil imports in July fell 9.5% from a 12 months earlier, with every day volumes on the second lowest in 4 years, as refiners drew down inventories and home gas demand recovered extra slowly than anticipated.

The robust Russian purchases squeezed out competing provides from Angola and Brazil, which fell 27% year-on-year and 58%, respectively.

Customs reported no imports from Venezuela or Iran final month. State oil corporations have shunned purchases since late 2019 for worry of falling foul of secondary U.S. sanctions.

Imports from Malaysia, usually used as a switch level previously two years for oil originating from Iran and Venezuela, soared 183% on the 12 months, to three.34 million tonnes, and up from June’s 2.65 million tonnes.

Right here is the detailed breakdown of oil imports, in metric tonnes:

(1 tonne = 7.3 barrels for crude oil conversion)

Reporting by Chen Aizhu; Enhancing by Richard Pullin and Clarence Fernandez

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