China becomes largest consumer of Russian crude - report

China has overtaken Germany to become the largest consumer of crude oil, RT.com reported on March 14.

"Shipping data suggest that China is importing more and more ESPO crude (East Siberian Pacific Ocean blend), the website cited an International Energy Agency  (IEA) report as saying.  “In January, China imported nearly 60 percent of all cargoes leaving Kozmino, while teapot refiners in the north of the country have recently begun importing crude via train from Russia.”

China now imports 550,000 barrels of crude oil a day from Russia, according to the report.

Read more: Russian oil company becomes world’s most profitable

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