Saudi Arabia, Angola, Iran remain top 3 oil suppliers to China

Saudi Arabia, Angola and Iran remained the three largest oil sources for China in 2009, with the three supplying 47.7 percent of China's total imports, according data released Wednesday by the General Administration of Customs (GAC).

GAC figures showed that China's oil imports from the three nations last year stood at 41.86 million tonnes, 32.17 million tonnes and 23.15 million tonnes, respectively. They represented a year-on-year increase of 15.1 percent, 7.6 percent and 8.6 percent, respectively.

China imported 204 million tonnes of crude oil last year, up 13.9 percent from a year earlier, at an average price of 438 U.S. dollars per tonne. That cost the world's third largest economy 89.26 billion U.S. dollars, down 31 percent year on year due to lower oil prices.

Saudi Arabia, the largest oil supplier to China, accounted for 20.5 percent of China's total imports in 2009. Angola supplied 15.8 percent while Iran contributed 11.3 percent, according to GAC data.

Other main oil suppliers to China included Russia, Oman and Sudan.

GAC said industrialization, urbanization and increasing car ownership were major reasons behind China's increasing oil demand.

China has become increasingly dependent on imported crude oil. In 2009, imported oil accounted for 52 percent of the country's total oil consumption. China itself produced about 189.5 million tonnes last year.

Source: Xinhua