China's Crude Oil Imports from Saudi Up 8.8% in March

A compressing station run by Sinopec is seen at Fuling shale gas field in Chongqing, China December 13, 2017. REUTERS/Chen Aizhu/File Photo
A compressing station run by Sinopec is seen at Fuling shale gas field in Chongqing, China December 13, 2017. REUTERS/Chen Aizhu/File Photo
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China's Crude Oil Imports from Saudi Up 8.8% in March

A compressing station run by Sinopec is seen at Fuling shale gas field in Chongqing, China December 13, 2017. REUTERS/Chen Aizhu/File Photo
A compressing station run by Sinopec is seen at Fuling shale gas field in Chongqing, China December 13, 2017. REUTERS/Chen Aizhu/File Photo

China's crude oil imports from top supplier Saudi Arabia rose 8.8% in March from a year earlier, driven by strong demand and as shipments delayed due to a port congestion finally arrived.

Imports from the United Arab Emirates also rose again, up 86%.

Shipments from Saudi Arabia were 7.84 million tons, equivalent to 1.85 million barrels per day (bpd), data issued by China's General Administration of Customs showed on Tuesday, versus 1.7 million bpd a year earlier. The imports, however, slowed from 1.94 million bpd in February.

Saudi Arabia retained its position as China's biggest crude oil supplier for a seventh consecutive month.

Ports at China's oil refining hub Shandong experienced congestion for a few weeks in February, slowing oil arrivals.

Analysts from Refinitiv expect arrivals from Saudi Arabia to further drop in April given a voluntary supply cut of 1 million bpd by the producer and increasing prices of Arab light crude for the Asian market.

The customs data also showed that crude oil supplies from Kuwait increased to 0.6 million bpd, up 29% from a year earlier.

China's imports from the UAE were at 0.71 million bpd last month, up 86% on year. Shipments from Oman rose 60% from a year ago to 0.86 million bpd.

Meanwhile, China's Sinopec has won a deal to develop Iraq's Mansuriya gas field near the Iranian border, the oil ministry said on Tuesday.

Last year Iraq cancelled a contract signed with a group led by the Turkish Petroleum Corp (TPAO) to develop the Mansuriya field and decided to invite international energy companies to compete to develop it.

Iraq’s state-run Midland Oil Company will partner Sinopec in development of the Mansuriya field, the statement said.

Under the 25-year contract, Sinopec will hold a 49 percent stake and Midland Oil Company will hold 51 percent, the statement added.

Sinopec will help Iraq to capture and process natural gas from the field and boost output to 300 million cubic feet of gas per day (mcf/d) as a targeted production level, the statement quoted Oil Minister Ihsan Abdul Jabbar as saying.

No timeline was provided.

Iraq is planning to sign contracts with foreign energy companies to develop its gas fields and build gas facilities in southern Iraq and Anbar province, the ministry cited Jabbar as saying.

Gas captured from the field will be used to feed power stations in Baghdad and Diyala province near the border with Iran.



China’s President Xi Says Tariffs and Trade Wars Hurt World Economic Order 

Chinese President Xi Jinping, center, applauds during a signing ceremony with Azerbaijani President Ilham Aliyev at The Great Hall of The People on Wednesday, April 23, 2025, in Beijing. (Iori Sagisawa/Pool Photo via AP) 
Chinese President Xi Jinping, center, applauds during a signing ceremony with Azerbaijani President Ilham Aliyev at The Great Hall of The People on Wednesday, April 23, 2025, in Beijing. (Iori Sagisawa/Pool Photo via AP) 
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China’s President Xi Says Tariffs and Trade Wars Hurt World Economic Order 

Chinese President Xi Jinping, center, applauds during a signing ceremony with Azerbaijani President Ilham Aliyev at The Great Hall of The People on Wednesday, April 23, 2025, in Beijing. (Iori Sagisawa/Pool Photo via AP) 
Chinese President Xi Jinping, center, applauds during a signing ceremony with Azerbaijani President Ilham Aliyev at The Great Hall of The People on Wednesday, April 23, 2025, in Beijing. (Iori Sagisawa/Pool Photo via AP) 

Chinese President Xi Jinping said on Wednesday that tariff and trade wars undermine the legitimate rights and interests of all countries, hurt the multilateral trading system and impact the world economic order, the official Xinhua news agency reported.

Xi made the comments during a meeting with Azerbaijan President Ilham Aliyev in Beijing, where he said that China is willing to work with Azerbaijan to safeguard the international system and carry out "in depth" law enforcement and security cooperation with the Azerbaijan side.

"China is ready to work with the Azerbaijan side to uphold the international system with the United Nations at its core...and safeguard international fairness and justice," Xinhua said.

The two leaders announced "the establishment of a comprehensive strategic partnership between China and Azerbaijan". It included the signing of 20 cooperation documents as part of China's Belt and Road Initiative (BRI), in areas including legal, green development, digital economy, intellectual property rights, and aerospace.

Bordering Iran, Russia, Georgia and Armenia, Azerbaijan was one of the first countries to support China's BRI initiative. It was launched in 2013 by Xi as a way to extend China's geopolitical and economic influence through a global infrastructure development push.

Aliyev is on a state visit to China from April 22-24.