BEIJING: China’s October crude oil imports slid to their lowest monthly level in 13 months, tumbling from a near record in September, as buying from independent refiners slowed with their import quotas draining away.
Data from the General Administration of Customs showed on Wednesday that imports stood at 31.03 million tons in October, or 7.3 million barrels per day (bpd), up from the same month a year earlier but well below about 9 million bpd in September.
“Lower imports reflected less purchases from independent refineries as many of them are running out of crude quota for this year,” said Li Yan, oil analyst with Zibo Longzhong Information Group.
The lower imports in October were a surprise, the analyst said, as crude demand usually picks up in the fourth quarter with refiners’ processing rates strong.
The import data came as China’s Commerce Ministry set its 2018 crude oil import quota for non-state companies at 142.42 million tons, an increase of more than 50 percent, with markets expecting China to buy more crude this year.
Meanwhile gas arrivals including pipeline imports and LNG shipments reached 5.81 million tons, retreating from September but up from only 3.82 million tons last year.
For the year to date, natural gas imports grew 25 percent to 54.16 million tons, higher than last year’s total import volume of 54 million tons and hitting a record.
Surging gas consumption from both residential households and the industrial sector has pushed up spot liquefied natural gas (LNG) prices and led to worries that the world’s largest energy consumer might faces winter shortages.
CNPC, one of the country’s largest gas producers, already plans to cut natural gas supplies to industrial users.
China crude oil imports drop to lowest in more than a year
China crude oil imports drop to lowest in more than a year
Closing Bell: Saudi main market sheds 85 points to finish at 11,098
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06.
The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.
Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).
Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.
Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30.
On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.
Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50.
On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.
The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.
The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.
The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session.
Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.
Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.
Tadweer shares last traded at SR3.80, up 2.70 percent.
