New data reveals China continues to be the primary destination for oil from the southern African nation.
BP
First exports come just as world prices are at historic high following Russia’s invasion of Ukraine.
China National Offshore Oil Corporation and China National Oil & Gas Exploration & Development eye 11 areas up for bidding.
Oil price averages US$113 per barrel, with 1,139 million barrels exported daily; China imports more than 54% of total output.
New field expected to produce 30,000 barrels daily, drawing on an estimated reserve of 44 million barrels.
