Kuwait oil exports to China increase 32%

Ahram Online, Sunday 26 Dec 2010

Kuwait oil exports to China jumped 32 percent compared to last year, says Kuna

Kuwait`s crude oil exports to China jumped 32 percent in November 2010 compared to the previous year, attaining almost 230 thousand barrels per day, according to Kuwait’s News Agency (Kuna)

Kuwait provided China with 4.6 percent of its total`s crude oil imports in November 2010 compared with 4.2 percent in the same month of 2009, Beltone Financial reported, citing Kuna.

During the past 11 months, Kuwait`s oil exports augmented 39.3 percent compared to the same period last year and reached 204 thousand barrels per day.

Last month, Kuwaiti Oil Minister and Information Minister Sheikh Ahmad Al-Abdullah Al-Sabah visited China last month to negotiate a planned 300,000 barrels per day refinery project which is jointly owned by the state-run Kuwait Petroleum Corporation (KPC) and Asia's top refiner Sinopec.

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