In 2018, Russia remained the largest supplier of oil to China for the third year in a row. According to a report of Chinese Association of oil companies, Russian exporters provide 15.5% of Chinese oil imports.

Last year, 71.5 million tons of raw materials were delivered from Russia to China, which is 19.7% more than a year earlier. Saudi Arabia and Angola are in the second and third place in terms of the oil supplies to China.

Currently, China provides about 70% of national oil consumption through imports. In 2018, China purchased 460 million tons of hydrocarbon raw materials abroad, exceeding the 2017 figures by 10%.

“The Chinese companies have almost no incentives to buy American oil because of the greater availability of the oil supplies from Iran and Russia at the moment," says Seng Yik Ti, an expert of Beijing-based consulting company SIA Energy. 

KeyFacts Energy Industry Directory: Rusmininfo