Kuwait’s crude oil exports to China in December 2014 surged 19.2% from the year before to 1.73mn tonnes, Kuna new agency reports.
December figure was the highest in 2014, the Kuwaiti General Administration of Customs said.
Last year Kuwait’s oil shipments to China saw a year-on-year increase of 13.7% reaching a total of 10.62mn tonnes or 213,000 barrels of per day (bpd).
Meanwhile, China’s overall imports of crude oil in December grew 13.4% year-on-year to a record high of 7.18m bpd as Saudi Arabia maintained its position as its top supplier of crude.
2014 Saudi shipments to China increased 8.6% to 1.07m bpd from a year earlier.
State-run Kuwait Petroleum Corporation (KPC) signed a major 10-year crude supply deal with China’s top energy trader Unipec in August.Â
Under the agreement, KPC supplies Unipec 300,000bpd of crude oil, with a strong possibility of increasing the volume to 400,000bpd, KPC told Kuna after the signing ceremony in late August.
