Angola main source of crude for Chinese independent refiners

Angola shipped 2.17 million tonnes of crude oil to independent refineries in China last month, 72.7 percent more than the month before and the most in any month yet, S&P Global Platts reports.

The collector of oil market information says Angola thus replaced Brazil last month as the biggest supplier of oil to Chinese independent refineries.

The report quotes an executive of one independent refinery as saying prices of African crude rose less last month than prices of Middle Eastern crude.

Brazilian Lula crude was the second most popular grade for Chinese independent refineries last month, with around 1.12 million tonnes imported by seven independent refineries, up 7.4 per cent more than the month before.

In the first four months of this year Brazil was the main supplier of crude to Chinese independent refineries, shipping them 7.77 million tonnes, and surpassing Russia, S&P Global Platts says.