China posed to become world's N1 Russian oil buyer

In the next five years China may become the world’s number one importer of Russia oil, Bloomberg reports.

According to the agency the projected jump stems from a raft of bilateral deals inked late last month between Russia’s Rosneft company and China’s National Oil and Gas Corporation to incrementally bring daily export of Russian oil to China to 743,000 barrels.
Meanwhile, Germany remains Russia’s biggest oil buyer with the 2011 import standing at 700,000 barrels per day.