Kuwait crude exports to China doubles

Kuwait City: Kuwait’s crude oil exports to China more than doubled in August from a year earlier to mark a seven-month high of 1 million tonnes, equivalent to around 237,000 barrels per day (bpd), the latest government data showed.

Surging by 101.2 per cent on the year, the volume was the highest since January, when Kuwait’s crude shipments to the world’s second-biggest energy consumer reached 1.09 million tonnes (258,000 bpd), according to the General Administration of Customs.

In an exclusive interview with Kuwait News Agency (KUNA) during her visit to Seoul earlier this month, Assistant Under-Secretary for Economic Affairs at the Oil Ministry and Kuwait’s Opec Governor, Nawal Al Fezai, said Kuwait will continue considering China and India as its high growth strategic markets.

“China’s economy is growing and there is increasing demand in all kinds of energy, especially oil, and Kuwait is looking for fulfilling this requirement. Oil trade with China is becoming more important for Kuwait,” Al Fezai said.

Growth

According to Al Fezai, Kuwait is exporting crude oil, liquefied petroleum gas (LPG), and other petroleum products to China and India. “We’d like to continue to provide these products to the two countries and any regions where we see their economy is growing,” she added.

The official was in the South Korean capital to accompany Kuwaiti Deputy Prime Minister and Minister of Oil, Mustafa Al Shimali, in the Fifth Asian Ministerial Energy Roundtable Meeting between regional major oil producing and consuming countries.