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SZ FOCUS – Featured Categories
China Nov Energy Imports Up
Friday, Dec. 23, 2011 PRINT EMAIL FAV PDF

China’s crude oil import from Saudi Arabia

China’s crude oil imports from Saudi Arabia rose to 1.17 million barrels per day (bpd) in November, the second highest rate on record, as the world’s top oil exporter boosted its output to above 10 million bpd.

November imports into China, the world’s No.2 crude buyer, were 32.3 percent higher than a year earlier and 100,000 bpd above the 1.07 million bpd in October, data from the General Administration of Customs showed.

Though the Chinese November data reflected mostly cargoes lifted in October, it echoed Minister of Petroleum and Mineral Resources Ali Al-Naimi’s comment earlier this month that the Kingdom had raised output to over 10 million bpd in response to demand from "all over".

China’s 100,000 bpd increase in November imports accounted for around 17 percent of the additional Saudi oil production.

China, the world’s second-largest oil consumer, has imported 995,033 bpd of crude oil from Saudi Arabia in the first 11 months of this year, up 13 percent year on year, the customs data showed.

The increased Saudi supply came as China raised its refinery production to an all-time high in November, and as China also started pumping oil into new reserve tanks, while crude oil production at home fell due to an offshore oil spill.

China LNG Import

China’s liquefied natural gas (LNG) imports in November surged by 51.79 percent from October to a record 1.29 million tons, according to statistics released by the General Administration of Customs (GAC) on WednesdayChina’s liquefied natural gas (LNG) imports in November surged by 51.79 percent from October to a record 1.29 million tons, according to statistics released by the General Administration of Customs (GAC) on Wednesday.

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