Saudi Aramco is likely to re-establish itself as China's largest supplier of crude oil after signing new contracts with five Chinese firms. Aramco forecasts the deals will boost exports to China by 1.67 million barrels per day (bpd) between 2006 and 2016, enough to overtake Russia as the country's largest crude provider. The company, China's biggest supplier next year, signed deals with state-owned firms CNPC, Sinochem, CNOOC and NORINCO, and the independent refiner Hengli Petrochemical. The agreements will see exports to the five rise to 623,000 bpd between 2006 and 2016 from 97,000 bpd.
Saudi Aramco is likely to re-establish itself as China's largest supplier of crude oil after signing new contracts with five Chinese firms. Aramco forecasts the deals will boost exports to China by 1.67 million barrels per day (bpd) next year, enough to overtake Russia as the country's largest crude provider. The company, China's biggest supplier between 2006 and 2016, signed deals with state-owned firms CNPC, Sinochem, CNOOC and NORINCO, and the independent refiner Hengli Petrochemical. The agreements will see exports to the five rise to 623,000 bpd next year from 97,000 bpd.