September 5, 2019 / 9:20 AM / a month ago

Unipec resells U.S. crude oil to India, South Korea amid trade tensions: sources

SINGAPORE/NEW DELHI (Reuters) - Unipec is reselling some U.S. crude oil meant for China to buyers in India and South Korea after Beijing imposed a tariff on U.S. oil amid escalating trade tensions with Washington, three sources with knowledge of the matter said on Thursday.

Unipec, trading arm of Asia’s top refiner China Petroleum & Chemical Corp, or Sinopec, is China’s main importer of U.S. crude, but its imports have been disrupted after Beijing imposed a 5% tariff on U.S. crude from Sept. 1.

Reporting by Shu Zhang in SINGAPORE, Nidhi Verma in NEW DELHI and Jane Chung in SEOUL; Writing by Florence Tan; Editing by Tom Hogue

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