China imported crude oil from Vietnam.
As reported by Reuters News, recently, China has bought crude oil from Vietnam, a first time in the past year.
Accordingly, Unipec bought the Vietnamese crude at a near record premium for the grade in a tender by PV Oil, the trading arm of PetroVietnam.
It paid around $7.50 a barrel above dated Brent for 400,000 barrels of Vietnamese Bunga Kekwa crude to load in February, just a few cents off the highest premium fetched for the grade since it started pricing on the European marker from August last year, traders said.
China will load an additional 12.43 million barrels of crude from Iraq, Russia and West Africa in January, more than covering the supply cut from Iran, according to trade sources and shipping data.
In the first 11 months of 2011, China bought nearly 11 percent of its oil from Iran, and it is a top trading partner of the Islamic Republic's oil sector.
Source: Xangdau.net
