Kenya has renewed a contract to purchase fuel on credit from three state-owned Gulf firms by 24 months and renegotiated lower margins.
Saudi Aramco, Emirates National Oil Co. and Abu Dhabi National Oil Co. will continue to supply gasoline, diesel, kerosene and jet fuel under a 180-day credit plan, Energy and Petroleum Regulatory Authority Director-General Daniel Kiptoo said in an interview in the capital, Nairobi.
China’s oil imports reached 11.28 million bpd in the previous year, an 11% increase from
2022, driven by strong fuel demand at home and abroad.
Domestic crude oil production in China also hit a record, totaling 208 million tons for the year, averaging 4.2 million barrels per day.
China’s substantial oil storage activities and fuel exports, particularly to Europe post-Russian embargo, highlight both domestic and international demand dynamics.