Kuwait crude oil exports to S. Korea down 2.5 pct

TOKYO, May 25 (KUNA) — Kuwait’s crude oil exports to South Korea in April fell 2.5 percent from a year earlier to 9.88 million barrels, or 329,000 barrels per day (bpd), latest data released by the state-run Korea National Oil Corporation showed.
As South Korea’s No. 2 supplier, Kuwait provided 11.0 percent of its total crude oil imports last month. In the January-April period, Kuwait increased sales to the Asian nation by 2.0 percent year-on-year to 391,000 bpd.
Overall South Korea’s crude oil imports in April grew 14.4 percent on the year to 2.99 million bpd. Saudi Arabia was its top crude supplier, with imports from the kingdom rising 6.9 percent from a year earlier to 1.03 million bpd. Qatar ranked third with 232,000 bpd, down 40.1 percent, followed by Iran and the United Arab Emirates.
In a joint statement issued at the conclusion of His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah’s visit to Seoul from May 8-11, Kuwait and South Korea expressed identical views on the significance of world oil price stability. The South Korean side also expressed appreciation and satisfaction over Kuwait’s keenness of ensuring oil supply in the statement, hoping that such bilateral cooperation continue in the oil and natural gas sectors, among other economic fields, including energy and industry, due to their vital importance. (end) mk.hb

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