BEIJING, November 25. /TASS/. China may increase its oil imports by 1.4 mln barrels per day by 2030, Rosneft CEO Igor Sechin said at the Russia-China Energy Business Forum.
"The growth points of global oil consumption are in the Asia-Pacific region – above all, China. Forecasts by leading global analytical agencies indicate that by 2030 China’s oil imports could rise by 1.4 mln barrels per day," he said.
Sechin also noted that over the past decade, Russia has become China’s top oil supplier with a market share of around 20%, while China’s savings from purchasing Russian oil – compared with Middle Eastern alternatives – have totaled roughly $20 bln since 2022. According to him, Russia’s share of gas supplies to China exceeds 20%.
"Over the past 10 years, thanks to a timely pivot to the East, Russia has become China’s No. 1 oil supplier with a share of about 20%. Due to the greater efficiency of purchasing Russian oil compared with Middle Eastern alternatives, the cumulative economic benefit for China since 2022 amounts, by our estimate, to roughly $20 bln," he said.