Saudi Arabia, Angola and Iran remain top three oil suppliers to China

Feb 10, 2010 01:00 AM

Saudi Arabia, Angola and Iran remained the three largest oil sources for China in 2009, with the three supplying 47.7 % of China's total imports, according data released by the General Administration of Customs (GAC).
GAC figures showed that China's oil imports from the three nations last year stood at 41.86 mm tons, 32.17 mm tons and 23.15 mm tons, respectively. They represented a year-on-year increase of 15.1 %, 7.6 % and 8.6 %, respectively.

China imported 204 mm tons of crude oil last year, up 13.9 % from a year earlier, at an average price of $ 438 per ton. That cost the world's third largest economy $ 89.26 bn, down 31 % year on year due to lower oil prices.
Saudi Arabia, the largest oil supplier to China, accounted for 20.5 % of China's total imports in 2009. Angola supplied 15.8 % while Iran contributed 11.3 %, according to GAC data. Other main oil suppliers to China included Russia, Oman and Sudan.

GAC said industrialization, urbanization and increasing car ownership were major reasons behind China's increasing oil demand.
China has become increasingly dependent on imported crude oil. In 2009, imported oil accounted for 52 % of the country's total oil consumption. China itself produced about 189.5 mm tons last year.

Source / Xinhua
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