China doubled its crude oil imports from Malaysia in March

China doubled its crude oil imports from Malaysia in March

China imported 1.054 million tons (7.684 million barrels) of crude oil from Malaysia in March this year, a 107% surge from the previous period.

Reuters quoted Chinese customs data to calculate that China ’s total crude oil imports from foreign countries increased by 4.5% year-on-year to 9.68 million barrels per day in March, mainly due to the impact of the coronavirus disease. , Although market demand has not increased.

On the basis that each ton of crude oil is equal to 7.3 barrels of crude oil, Malaysia ’s export of 1.054 million tons of crude oil to China is equivalent to 7.684 million barrels.

In addition to Malaysia, China’s imports from Russia, the second-largest supplier, also increased by 31%. In comparison, China’s crude oil purchase from Saudi Arabia, the largest supplier, decreased by 1.6%.

On the other hand, Petronas pointed out on Saturday that most of the company’s local projects affected by the coronavirus disease have resumed construction or will resume work in the near future.

In the announcement, PetroChina pointed out that although the oil and gas market is currently challenging, PetroChina will do its utmost to reduce pre-planned local capital expenditure activities.

However, Petronas pointed out that some projects are expected to be delayed, mainly due to the global extension of the embargo operation and Malaysia’s administrative measures and the disruption of the global supply chain.

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