China imported 43% more crude oil from Saudi Arabia in April.

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      China's crude oil imports to Saudi Arabia rose 43% last month, boosted by demand for new private refineries, making it once again China's largest oil supplier.
China's imports of crude oil from Saudi Arabia rose to 6.3 million tons in April, equivalent to 1.53 million barrels per day, up from 1.07 million barrels per day in the same period last year, according to data released by the General Administration of Customs on Saturday.
Hengli Petrochemical Co. (600346.SH) has boosted oil imports to Saudi Arabia by increasing capacity utilization at its refining facilities. A refinery with a processing capacity of 400,000 barrels per day in the Northeast is expected to reach full capacity by the end of June. About 70% of Hengli's crude oil comes from Saudi Arabia.
China imported 6.12 million tons of crude oil from Russia in April, equivalent to 1.49 million barrels per day, up from 1.35 million tons in the same period last year.
China imported 3.24 million tons of crude oil from Iran last month, equivalent to 789,137 barrels per day, up from 541,100 barrels per day in March, as companies rushed to buy more before the U.S. lifted the Iranian sanctions exemption.


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