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Angolan crude supply to China exceeds Saudi Arabian

04-23-2008

Angolan crude supply to China exceeds that of Saudi Arabian, Iranian and Russian. Angola exported 8.48 million metric tons of crude to China in the three months ended March 31, about 688,000 barrels a day and 55 percent more than a year earlier, the Beijing-based Customs General Administration said. Saudi Arabia shipped 8.18 million tons, a 38 percent increase.

China's oil imports surged 25 percent to a record 17.3 million tons in March as refineries expanded processing to ease a gasoline and diesel shortage that deepened as farmers started planting their crops. African grades, such as those supplied by Angola, are favored for their relatively low sulfur content and high yields of auto fuels.

Saudi Arabia was the largest crude supplier to China in 2007, when its shipments rose 10 percent to 26.3 million tons. Angola exported 25 million tons, ranking second.

Iran, Oman and Russia were among China's five largest suppliers during the first quarter, shipping 5.8 million, 3.3 million and 3.1 million tons respectively.