Tag Archives: China

Sinopec Profits Shrink as Economic Woes Weigh on Fuel Demand

Sinopec’s first-half profits shrank amid lower oil prices and fuel demand being weighed down by China’s sluggish economic recovery. China Petroleum & Chemical Corp., as it’s officially known, posted net income of 36.12 billion yuan ($4.96 billion), according to international financial reporting standards. That compared with a revised 44.8 billion …

Read More »

Saudi Aramco Looks to Expand Downstream Business in China

Saudi Aramco looks to further bolster its downstream presence in the world’s top crude oil importer, China, the oil giant’s Downstream President, Mohammed Al Qahtani, has said. “China is strategically important to our business growth in Asia and worldwide, and we will remain a reliable source of long-term oil supply,” …

Read More »

China Emerges as a Global LNG Trading Power

China is expanding its presence in the global LNG trading world, with Chinese traders setting up new or expanding their trading desks in Singapore and London, Reuters writes. This would put China in direct competition with LNG trade leaders including Shell, BP, TotalEnergies, and Equinor, the report pointed out. The …

Read More »