• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 7 hours The United States produced more crude oil than any nation, at any time.
  • 1 day China deletes leaked stats showing plunging birth rate for 2023
  • 10 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 5 days Bad news for e-cars keeps coming
What’s Next for the EU?

What’s Next for the EU?

The European Parliament election results…

China’s Imports Of Crude Oil From Malaysia Hit Record High

Chinese imports of crude oil from Malaysia surged in December to a record 1.3 million barrels per day (bpd), placing Malaysia – whose daily crude production is three times lower – third among China’s biggest crude oil suppliers, only behind Saudi Arabia and Russia.  

Chinese crude oil imports from Malaysia exceeded the volumes of crude purchases from OPEC heavyweights such as Iraq and the United Arab Emirates (UAE) last month, according to data from the General Administration of Customs of China cited by Bloomberg.

The volume of China’s imports of crude oil from Malaysia was three times the average daily production from the Southeast Asian producer between January and September 2022.

This has led many analysts to speculate that a large part of the crude from Malaysia – a known hub for ship-to-ship (STS) transfers – actually originated from producers under sanctions such as Iran, Venezuela, or Russia.

Generally, independent Chinese refiners are unfazed by sanctioned oil as their priority is to buy low-priced crude and make good profits refining it.

China continues to buy Iranian and Venezuelan crude, often masked as crude from Malaysia or Oman, various analyses and investigative reports have found over the past few years.

Venezuela is using false documents and tankers linked to Iran and is known for carrying sanctioned Iranian crude in the past, a recent investigation by Reuters showed. Venezuela is selling oil to Chinese refiners, passing it off as Malaysian crude in documents, the investigation showed.  

Last year, Chinese customs data at times showed so many imports from Malaysia that analysts and observers believe that China continues to import sanctioned oil passed off as coming from Oman or Malaysia.

ADVERTISEMENT

Meanwhile, Saudi Arabia was again the single biggest oil supplier to China in 2022, despite a surge in Chinese purchases of crude from Russia, which stayed second-placed on the list of top suppliers to the world’s largest crude oil importer.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News