China's largest crude oil buyer Sinopec aims to ship more cargoes from Brazil, the United States and Canada, to help ensure stable crude supplies as the Middle East boosts refining capacity and Africa suffers disruptions.
Shipments from the Americas hit an all-time higher in March, boosting the region's share of the Chinese market by 1.1 % points in the first quarter to close to 14 %, data from Thomson Reuters Oil Research & Forecasts showed.
Asia needed to step up crude imports from the "new frontier", the greater U.S. Gulf Coast region made up of the United States, Canada and Latin America, to meet its growing demand, he told a seminar this week.
China is on track to overtake the United States as the world's largest oil consumer this year, Chen added.
China will add just under 2 million barrels per day (bpd) of refining capacity between 2016 and 2020, taking its total capacity to nearly 12.5 million bpd by the end of this decade.
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