ΕιδήσειςΕυρωπαϊκές Ειδήσεις China's Iraq Oil Imports Surge as Beijing Diversifies Crude Sources dj Τρι, 21 Ιανουαρίου 2014 - 18:39
China is trimming dependence from some top oil suppliers such as Saudi Arabia in favor of Iraq and others, as greater availability of global oil helps Beijing diversify its sources of foreign crude. The changing makeup of China 's foreign oil suppliers is one example of how weaker demand from major buyers in the U.S. , Europe and Japan is reshaping global trade flows. Beijing hopes the gradual shift in oil shipments can help it reduce dependence on a key group of suppliers--though new shipments in many cases are coming from politically risky areas. Chinese customs data released Tuesday showed China 's crude imports declined or stagnated from some of its largest oil suppliers in 2013, including Saudi Arabia , Kuwait and Venezuela . Meanwhile, China has increasingly tapped supplies in Iraq , parts of western Africa and elsewhere. Imports from Saudi Arabia , China 's largest overseas supplier, was flat in 2013 from a year earlier, the first time in at least a decade that Chinese imports from the country haven't grown on an annual basis. Growth in Saudi crude imports historically has been measured in the double digits. Imports over the past year from Saudi Arabia , Angola and Russia -- China 's largest suppliers in 2012--shrank as an overall share of total shipments. Last year their crude made up 42% of China 's imports, compared with 44% in 2012. At the same time, growing imports from smaller and emerging oil-producing countries have helped make up for the shortfall. Imports from Iraq rose roughly 50% in 2013, ranking it behind Russia as China 's fifth-largest source of foreign crude. China 's imports from the Republic of Congo surged 32% in 2013 to 7.1 million metric tons, or about 142,000 barrels a day, ranking it No. 11, after Kuwait . U.S. imports from the Republic of Congo have fallen sharply in recent years. Greater diversity of supply helps shield the Chinese economy from political risks that threaten its stability. Chinese oil companies operate in some of the world's dodgiest locales, where political and social uncertainty routinely puts flow of resources at risk. When fighting escalated in oil-rich South Sudan last month, state-run China National Petroleum Corp. was forced to evacuate its workers. "God put oil in the wrong places," said Gordon Kwan, head of regional energy research at Nomura. Analysts say more crude is available globally because of weaker demand from buyers in the U.S. , Europe and Japan , whose economies are still recovering. Energy consumption in the U.S. and Japan is also shifting to natural gas, they say. "This is freeing up more crude oil for Asian buyers, and China is certainly the biggest beneficiary," said Kang Wu, head of Asia at energy consulting firm FGE. "No one is pressuring [Chinese importers] to diversify, but diversification is a goal that's buried in the background of day-to-day operations." Overall, Chinese oil imports are slowing. Imports were up 4% in 2013 versus growth of 7% in 2012, customs data show. The slowdown over the past years is the result of several factors, including weaker economic expansion and slackening construction of refineries in China . Meanwhile, China 's dependence on foreign crude has continued to rise, and Chinese officials estimate it is expected to reach 61% by 2015 from 54% in 2010. China 's apparent oil demand--net imports of refined oil products combined with the amount of crude processed by refineries--also has been slowing. China 's oil demand grew 3% in 2013, slowing from 10% growth in 2010, according to the International Energy Agency, the developed world's energy watchdog. The release of Tuesday's data concludes a landmark year for Chinese oil companies abroad. In February, Cnooc Ltd., the listed unit of the country's primary offshore oil producer, closed on its $15.1 billion purchase of Canada 's Nexen Inc.--the largest foreign acquisition of a company by a Chinese firm. CNPC, the country's largest energy producer, said crude oil at its overseas projects last year surpassed 100 million metric tons for the first time. The U.S. Energy Information Administration confirmed last year that China for the first time had surpassed the U.S. as the world's largest net oil importer, which is calculated as liquid fuels consumption minus domestic production. The U.S. is still by far the largest importer of crude, though its imports have declined in recent years because of higher domestic output and greater domestic supplies of shale gas. China 's moderating economy is another major factor that has weighed on domestic oil demand. Weaker manufacturing in China has meant less trucking, one factor that has led to a slump in demand for diesel, according to analysts at Barclays. Slowing economic growth and oil demand is part of why China 's government is allowing its oil companies to sell more refined fuels abroad, which has led to a surge in sales of gasoline and diesel to neighbors in Southeast Asia . Διαβάστε ακόμα ΕΕ: Έρχονται τα Νέα Canadair Σαβ, 24 Αυγούστου 2024 - 13:00 Ανάσα για την Αγορά Ηλεκτρικής Ενέργειας Καθώς Υποχωρούν οι Τιμές Αερίου και Βελτιώνονται οι Καιρικές Συνθήκες Σαβ, 24 Αυγούστου 2024 - 12:30 Φιλανδία: Προσφυγή ΜΚΟ κατά της Κυβέρνησης για "Κλιματική Αδράνεια" Παρ, 23 Αυγούστου 2024 - 18:00 Ιταλία: Πιέσεις Μελόνι προς Stellantis για Gigafactory Μπαταριών Παρ, 23 Αυγούστου 2024 - 16:00 Η Μόσχα Κατηγορεί την Ουκρανία για Απόπειρα Επίθεσης στον Πυρηνικό Σταθμό του Κουρσκ με Drone Παρ, 23 Αυγούστου 2024 - 12:30
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