Chinese crude oil imports rose 13.6 percent year-on-year in April

According to statistics released by the General Administration of Customs (GAC) on May 12, China imported 16.17 million tons of crude oil in April, a 13.6 percent increase year-on-year and a 3.7 percent increase month-on-month.

In the first four months of the year China imported a total of 57.05 million tons of crude oil valued at 17.997 billion USD, a 4.5 percent and 55.7 percent drop year-on-year respectively. During this four month period, the average price of crude oil imports stood at 315.5 USD per ton. In April, the average price of crude oil imports rose somewhat to 335.8 USD per ton.

GAC's analysis report indicates that Saudi Arabia, Iran and Angola are China’s three major sources of crude oil imports. In the first quarter, crude oil imported into China from Saudi Arabia accounted for 21.6 percent of all Chinese crude oil imports, Iran accounted for 14.6 percent and Angola 14.1 percent.

The analysis report also says that China recently reached a series of cooperation agreements relating to oil with some of the main crude oil-producing countries. The agreements reflect a range of diverse characteristics in both the investment environment and region for overseas energy cooperation.

Source: People's Daily Online