February 28, 2011 / 8:36 AM / 9 years ago

China's Unipec not buying more crude to replace Libyan supply

BEIJING, Feb 28 (Reuters) - Unipec, the trading arm of top Asian refiner Sinopec (0386.HK), has so far declined Saudi Aramco’s offer of more Saudi crude oil to replace Libyan crude supplies, trading sources said on Monday.

The Chinese company is not buying any more crude oil to replace Libyan supplies, they said.

“There is no shortage of crude overall in Sinopec,” said one source. “We have the ability to adjust sweet and sour crudes among our refineries.” (Reporting by Judy Hua and Tom Miles; Editing by Ken Wills)

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