Sinopec plans to import more oil from US

China Petroleum & Chemical Corp, China's largest oil refiner, is expected to import 10 million metric tons of crude oil from the United States this year, said the company, also known as Sinopec.

Unipec Singapore Pte Ltd, a trading unit of Sinopec, said it imported 5.57 million tons of crude oil from the US in 2017, 10 percent of the total US crude oil export last year, which also makes the company the biggest US crude oil trader in the Asia-Pacific region and a major player in US crude oil trade.

China is increasingly reliant on crude oil imports as domestic supply is unable to keep pace with demand, mostly driven by rising demand for oil products such as gasoline and jet fuel.