Saudi crude oil supply to China to dip in July, sources say
SINGAPORE - Saudi Arabia's crude oil supply to China is set to dip slightly in July, trade sources said on Tuesday, but still strong for a third straight month as the OPEC kingpin regains its market share supplying the world's top crude importer.
State oil firm Saudi Aramco will ship about 47 million barrels to China in July, a tally of allocations to Chinese refiners showed, 1 million barrels less than June's allotted volume.
State refiners Sinopec, PetroChina and Aramco's joint venture Fujian refinery will be receiving more crude in July, while the allocation for independent refiners Rongsheng Petrochemical, Hengli Petrochemical and Shenghong Petrochemical will dip, the sources said.
Saudi Aramco did not immediately respond to a request for comment.
The robust Saudi supply comes after the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, agreed to hike output in July by 411,000 barrels per day for a third consecutive month.
Since April, the OPEC+ eight have now made or announced increases totalling 1.37 million bpd, or 62% of the 2.2 million bpd they aim to add back to the market.
(Reporting by Florence Tan; Editing by Muralikumar Anantharaman and Sonali Paul)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
5 hours ago
- Khaleej Times
UAE's large scale projects signal ambition towards a sustainable economy
The UAE remains buoyant and forward-thinking, with large-scale transformation initiatives signaling the government ambition to create a sustainable economy for citizens and visitors alike, an industry veteran said. 'The UAE's government is strategically deploying investment into sectors that promise long-term value creation, including infrastructure, tourism, clean energy, digital innovation, and advanced logistics — all of which are catalysts for sustainable economic growth,' Phil Malem, CEO Serco Middle East and +impact, said in an interview. In the UAE, non-oil GDP is being buoyed by increased private sector participation and a push toward becoming a global hub for innovation, trade and talent, he added. It is also noteworthy to look at Saudi Arabia, a country which is in the midst of one of the most ambitious economic diversification programmes in the world under Vision 2030. 'Projects like NEOM, Qiddiya, and the Red Sea Development are not just infrastructure investments; they represent a new economic model based on knowledge, creativity, and future-ready service ecosystems. These megaprojects demand not only advanced service delivery models but also strategic advisory capabilities, and partners who can think, design, and operate at scale. This is where our value proposition is strongest: in delivering outsourced services that are deeply integrated, culturally aligned, and capable of flexing across both the operational and advisory spectrum,' Malem said. Serco has a long established record in the aviation sector, and Malem believes that Dubai's announcement to fully transition airport operations to Al Maktoum International Airport (DWC) over the next decade marks a pivotal moment in the future of global aviation. 'DWC is not just an airport expansion, it is the foundation of a new aviation ecosystem for the UAE. With a projected capacity of 260 million passengers annually, this is a bold redefinition of what global connectivity, passenger experience, and aviation infrastructure can look like. It will reshape air traffic flows, logistics strategies, and the entire passenger journey across the region,' Malem said. For us at Serco, this is a natural alignment with its capabilities and legacy. 'We have long been embedded in the region's aviation sector (supporting Dubai Airports and Sharjah Airport with multiple different services), from managing complex air traffic control operations to delivering end-to-end airport and passenger services. The DWC transformation presents an opportunity to rethink how airports are operated: how data, automation, and talent can be optimised to meet evolving passenger needs, safety standards, and sustainability goals. It also reinforces the need for a highly skilled, locally grounded workforce, which is why our investments in nationalisation, such as training Emirati air traffic controllers and operational leaders, will continue to scale in line with the country's ambitions,' Malem said. Public-private collaboration remains fundamental to the success of national transformation agendas in the region, the Serco Middle East CEO said. 'Given that many of the region's largest organisations are government-owned or backed, the ability of private sector partners to operate in true alignment with public sector goals is what determines long-term impact. Governments are not just looking for service providers, they are looking for partners who understand the national vision, share their values, and bring both global expertise and local commitment to the table. This is particularly critical in sectors like aviation, transport, defence, and citizen services, where the outcomes affect millions of lives and require long-term strategic thinking,' Malem said. Serco has invested significantly in building a pipeline of local talent, not through box-ticking, but through structured programmes that upskill, train, and provide meaningful, international-standard experience to Emirati and Saudi nationals. 'Collaboration, when built on trust and mutual purpose, becomes a multiplier. It allows us to move faster, operate smarter, and create shared outcomes. In this region, where ambition is high and transformation is constant, public-private partnerships, grounded in capability and integrity, are the engine that will power sustainable progress,' Malem said. As artificial intelligence becomes increasingly part of our day-to-day lives, the expectations around customer experience are evolving at an unprecedented pace. 'For companies operating in the UAE and across the GCC, the challenge is twofold: how do you harness cutting-edge technology like AI, while maintaining the empathy and understanding that truly great experiences are built on? I believe the answer lies in blending technological innovation with human insight, which is exactly what we've set out to do through our recently launched company, +impact, Serco's advisory business,' Malem said. Through +impact, Serco is focused on delivering measurable, purpose-driven outcomes. 'One of our core services at +impact is advisory within the customer experience space, and we bring deep expertise in behavioural insight, service design, and user experience, enabling us to map real customer journeys and design solutions that anticipate needs - not just respond to them. It allows us to embed empathy and innovation directly into service delivery, creating experiences that build trust, satisfaction, and long-term loyalty,' Malem said. But AI alone isn't enough. It must be paired with strong human understanding and strategic advisory capability. 'This is where I see this convergence of AI, data, design, and operational excellence as the future of service delivery. We are proud to make an impact across governments and organisations across the region as they lead the way in defining what exceptional, human-centred experiences look like in the digital age,' Malem said.
Khaleej Times
6 hours ago
- Khaleej Times
Saudi crude oil supply to China to dip in July, sources say
Saudi Arabia's crude oil supply to China is set to dip slightly in July, trade sources said on Tuesday, but still strong for a third straight month as the OPEC leader regains its market share supplying the world's top crude importer. State oil firm Saudi Aramco will ship about 47 million barrels to China in July, a tally of allocations to Chinese refiners showed, 1 million barrels less than June's allotted volume. State refiners Sinopec, PetroChina and Aramco's joint venture Fujian refinery will be receiving more crude in July, while the allocation for independent refiners Rongsheng Petrochemical, Hengli Petrochemical and Shenghong Petrochemical will dip, the sources said. Saudi Aramco did not immediately respond to a request for comment. The robust Saudi supply comes after the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, agreed to hike output in July by 411,000 barrels per day for a third consecutive month. Since April, the OPEC+ eight have now made or announced increases totalling 1.37 million bpd, or 62% of the 2.2 million bpd they aim to add back to the market.
Arabian Business
6 hours ago
- Arabian Business
Energy
Petrochem founder Yogesh Mehta reflects on a life built from hardship, a company forged from belief, and the handover to a new generation. This is a story about business. But more than that – it's a story about what it means to live well
