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Russia becomes China's largest crude oil supplier earlier this year.
In the first two months of 2023, Russia increased its crude oil sales to China by almost a quarter. It overtook Saudi Arabia to become China's largest oil supplier.
This is reported by Reuters, citing data from the Chinese government, Ukrinform says.
According to the Chinese General Administration of Customs, in January-February, oil imports from Russia reached 15.7 million tonnes. This is almost 2 million barrels per day. It's 23.8% more than in the same period in 2022.
Read also: Bloomberg exposes shadow fleet of Russian oil tankers
Last year, Russia was the second-largest crude oil supplier to China. The country exported 86.2 million tons of crude oil during the year.
Saudi oil imports totaled 13.92 million tonnes over two months. This is equivalent to 1.7 million barrels per day, compared to 1.8 million barrels a year earlier.
Read also: Increasing hydrocarbon extraction by NATO allies to deprive Russia of resources for war - expert
In 2022, Saudi Arabia was China's largest oil exporter. The country supplied 87.5 million tonnes of crude oil over the year. This is equivalent to 1.75 million barrels per day.
After Russia invaded Ukraine, Western sanctions were imposed and a cap was introduced on Russian oil prices.
This has reduced the number of buyers of Russian hydrocarbons. As a result, Russian oil is being sold at a steep discount.
Among the main beneficiaries of the Russian oil price cap were non-state Chinese refiners. Many of them are located in the eastern province of Shandong. Early in the year, they bought Russian crude at a discount of about $8 per barrel compared to the benchmark Brent.
As Ukrinform reported on Monday, March 20, oil prices continued to fall after last week's decline. The drop was the most significant since last summer.
Ukraine, CEF participants synchronize joint steps to develop transport connection.
Ukraine has presented projects on the development of border crossings, road and railway transport services as part of the Connecting Europe Facility (CEF).
Japan to continue supporting Ukraine's energy sector.
A Ukrainian delegation led by Energy Minister German Galushchenko met with Japanese government officials during their visit to Japan to discuss the country's assistance in restoring Ukraine's energy sector.
Ukraine to receive ten armored combat support vehicles from Canada this autumn.
Canada will send ten armored combat support vehicles to Ukraine this autumn.
Pentagon releases list of weapons in $6B aid package for Ukraine.
U.S. Defense Secretary Lloyd Austin has announced what kind of weapons Ukraine should receive in the new largest package of security assistance worth $6 billion.
General Brown after Ramstein meeting: We must act urgently to stop Russia.
Uncontrolled aggression against one nation threatens the sovereignty of all, and global peace and security are achieved through military means and collective efforts.
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