Kuwait’s crude oil exports to China nearly double

Kuwait’s crude oil exports to China jumped 88.8 percent in November from a year earlier to 957,000 tons, equivalent to around 234,000 barrels per day (bpd).

Kuwait News Agency, KUNA, quoted the Chinese General Administration of Customs as saying that Kuwaiti share of Chinese crude oil imports last month was 3.8 percent, compared to 2.2 percent the year before.

In the January-November period, Kuwait exported 195, 000 bpd to the world’s second-largest oil consumer, up 8.3 percent on the year.

State-run Kuwait Petroleum Corporation (KPC) signed a landmark deal with China’s top energy trader, Unipec, in September to supply 300,000 bpd of crude oil over the 10 years. It was the biggest-ever crude oil sales contract in KPC’s history by volume and revenues, according to KPC.

SOURCE: WAM