"According to our forecasts, the Middle East remains the main market of oil imports to China. We also assume that the countries of the former Soviet Union, the United States and other states will increase the volume of its oil exports to the Chinese market," Zhong Fu Liang said at the China-Russia Oil & Gas 2016 event in Beijing.
According to Unipec's forecasts, around 50 percent of all oil exports to China will account for the Middle East. Crude oil imports from the former Soviet Union and the United States to China are expected to show a relatively rapid growth.
Unipec was founded in 1993 and is the largest Chinese international trade company. Unipec's business covers trade in crude oil, oil products and liquefied natural gas, as well as warehousing and logistics.