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Angola began year as China's top oil supplier
Macao, China, 8 Mar - Angola was China's top supplier of oil in January, overtaking Saudi Arabia at a time when Chinese oil companies are seeking to consolidate Angolan offshore positions.
The latest Chinese customs data indicate that the value of oil imports from Angola rose 53 percent in January, versus a 7 percent drop in imports from Saudi Arabia.
Angola is currently China's number one trading partner in Africa and has benefitted not only by the increased quantity but also by the value placed on the ‘sweeter' oil grades characteristic of Africa, market analysts say.
China is the world's biggest oil purchaser after the United States, with January imports of about 4.03 million barrels per day.
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