Kuwait's oil exports to China up 15.4 %

Kuwait's crude oil exports to China in the first eight months of 2012 rose 15.4 percent from the same period of last year to 7. 02 million tons, equivalent to around 211,000 barrels per day (bpd), the latest government data showed. Kuwaiti supplied 3.9 percent of the nation's crude oil in the January-August period, compared with a 3.6 percent market share a year ago, according to the General Administration of Customs. In August alone, Kuwait's shipments to the world's second-biggest energy consumer fell 42.4 percent on the year to 118,000 bpd. China's overall imports of crude oil in August fell 12.6 percent from a year earlier to 4.35 million bpd for the lowest daily rate since October 2010. Saudi Arabia remained China's top supplier, although its shipments plunged 23. 6 percent to 714,000 bpd, followed by Angola with 626,000 bpd, up 12.6 percent. Russia became third with imports from the country rising 0.5 percent to 408,000 bpd. China, Iran's top oil buyer, imported 373,000 bpd oil from Iran last month, down 19.7 percent on the year, the lowest level in five months amid sanctions by the US and the EU on the Middle Eastern nation's oil sales.