A number of African countries, including
Angola and South Sudan, are fast becoming preferred exporters of crude
oil to Asian countries, especially China. Before now, Nigeria was a
dominant exporter of oil to this market.
Weakness in global oil benchmark Brent
has prompted......
China to buy more crude from Africa, and the country’s
imports from Africa are expected to jump to 6.51 million tonnes (47.5
million barrels) in July, up about 41 per cent from June, according to
data recently compiled by Thomson Reuters Oil Research and Forecasts.
The bulk of the increase will come from
Angola, which is now China’s top supplier in Africa. Angola is expected
to ship 3.4 million tonnes in July, up from 2.88 million in June.
South Sudan, with eight vessels exported
to China in July for a total 767,000 tonnes, it is said to have
received an increase of eight per cent from June.
For the Angolans, the large boost in
July exports to China will be a welcome change, as they lost their
number two spot behind Saudi Arabia in the first six months of 2015 to
Russia, according to Chinese customs data.
Imports from Russia were 19.401 million
tonnes, a leap of 26.6 percent, while Saudi Arabia boosted shipments to
26.386 million tonnes, a gain of 9.2 per cent.
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