Russia remains China's top oil supplier as pipeline expands
BEIJING, (Reuters) - Russia remained the top crude oil supplier to China in January, data showed, beginning 2018 on a strong note after the start-up of an expanded trans-Siberia pipeline and as Beijing released more crude import quotas to independent refiners.
Russian supplies came in at 5.67 million tonnes, or 1.34 MMbpd, up 23.4 percent from a year earlier, data from the Chinese General Administration of Customs showed.
The January number compared with 1.194 Mbpd in December.
Last month, data showed Russia notched up its second year as China's largest supplier in 2017, surpassing Saudi Arabia - OPEC's top exporter - by some 150 Mbpd.
The strong Russian exports to the world's largest crude oil buyer came as a second East Siberia-Pacific Ocean (ESPO) pipeline started commercial operation in January.
In a reshuffle of the pack, Angola ranked second with 4.68 million tonnes, or 1.1 MMbpd, of crude in January, down 5.4 percent from a year earlier.
China imported 4.45 million tonnes, or 1.05 MMbpd, of crude from Iraq, up 28 percent from a year ago.
Saudi Arabia supplied 4.29 million tonnes, or 1.01 MMbpd, to China in January. That was down 15 percent from the same year-ago rate and compared with 1.11 MMbpd in December.
Even so, exports from the kingdom are expected to rise to record levels this year as Saudi Aramco ramps up supplies to Chinese state oil firm CNOOC, as well as the Huajin refinery owned by defence giant NORINCO.
China's total crude oil imports last month soared 20 percent from the same month a year earlier to a record rate of 9.57 million barrels per day, beating the previous peak of 9.17 MMbpd.
Customs data also showed China's oil imports from the United States soared to 2.01 million tonnes last
In 2017, U.S. shipments, which benefited from OPEC-led supply cuts, averaged about 153 Mbpd.
(Reporting by Chen Aizhu, Josephine Mason and Pei Li; Editing by Kenneth Maxwell)
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