Saudi Arabia has sent its first cargo of crude to an upgraded refinery in China's south-eastern province of Fujian, the state oil firm Saudi Aramco said on Wednesday. The Fujian Refining and Petrochemical Co Ltd is a $5 billion joint venture between Sinopec, Exxon Mobil and Saudi Aramco.
Saudi Arabia overtook Angola to become the biggest oil supplier to China in 2008, accounting for a fifth of its supplies. China is the third-largest buyer of Saudi crude after the United States and Japan. A 900,000 barrel cargo of Arab Extra Light crude arrived at the Dalian terminal on February 16 from Ras Tanura, the largest offshore oil facility in the kingdom, Aramco said in a statement.
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