Oil buyers try to kick Mideast dependence

China Petroleum & Chemical, the nation’s biggest refiner, and Nippon Oil of Japan are importing more oil from Africa and Russia in an effort to try to reduce their dependence on Mideast crude.

Angola has overtaken Saudi Arabia as China’s largest supplier this year, and Japanese refiners have started buying crude from the Russian Far East. Refined oil from Africa and Russia typically yields more gasoline and diesel than Mideast supplies, making them more attractive in Asia, the world’s fastest-growing automobile market.
International Herald Tribune