Kuwait crude exports to China more than double

Kuwait's crude oil exports to China more than doubled in August from a year earlier to mark a seven-month high of 1.0 million tons, equivalent to around 237,000 barrels per day (bpd), the latest government data showed. Surging by 101.2 percent on the year, the volume was the highest since January, when Kuwait's crude shipments to the world's second-biggest energy consumer reached 1.09 million tons (258,000 bpd), according to the General Administration of Customs. In an exclusive interview with Kuwait News Agency (KUNA) during her visit to Seoul earlier this month, Assistant Undersecretary for Economic Affairs at the Oil Ministry and Kuwait's OPEC Governor Nawal Al-Fezai said Kuwait will continue considering China and India as its high growth strategic markets. "China's economy is growing and there is increasing demand in all kinds of energy, especially oil, and Kuwait is looking for fulfilling this requirement. Oil trade with China is becoming more important for Kuwait," Al-Fezai said. According to Al-Fezai, Kuwait is exporting crude oil, liquefied petroleum gas (LPG), and other petroleum products to China and India. "We'd like to continue to provide these products to the two countries and any regions where we see their economy is growing," she added. The official was in the South Korean capital to accompany Kuwaiti Deputy Prime Minister and Minister of Oil Mustafa Al-Shimali in the Fifth Asian Ministerial Energy Roundtable Meeting between regional major oil producing and consuming countries on September 12. China's overall imports of crude oil in August rose 16.5 percent from a year earlier to 5.07 million bpd. Saudi Arabia remained the country's top supplier, with its shipments jumping 25.4 percent to 895,000 million bpd, followed by Angola with 724,000 bpd, up 15.8 percent. Russia became third supplier, with exports from the country increasing 19.1 percent to 486,000 bpd. Iraq ranked fourth with 477,000 bpd, up 59.8 percent, and Iran fifth with 438,000 bpd, up 17.5 percent, respectively