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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (2920)	3/19/2004 11:07:56 AM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

UPDATE: Angola Takes Top Spot In China Feb Crude Imports SINGAPORE (Dow Jones)--China is importing increasing amounts of crude oil from Africa, and in February Angola overtook Saudi Arabia and became its main supplier that month, customs data released Friday showed. China's crude imported 1.7 million metric tons of crude from Angola in February, a jump of 57% from January levels. This accounted for 16% of China's total crude imports of 10.53 million tons in the month, which itself was an all time high. In the first two months of the year, crude imports were 39.3% higher than a year earlier. Saudi Arabia provided China with 1.21 million tons of crude in February, from 984,000 tons in January. Africa, along with the Middle East and North Asia is becoming the main target for China's oil buyers. In line with this, Chinese companies have signed various term contracts with Angola. Most of China's crude imports from Angola in February were handled by China's largest refiner, China Petroleum & Chemical Corp., or Sinopec Corp. (SNP). sg.biz.yahoo.com