Tag Archives: China

The Iraqi Oil Marketing Company “SOMO” announced that the Chinese oil companies are the top buyers of Iraqi oil during April 2022. According to SOMO statistics, 34 international companies bought Iraqi oil the last April. China ranks first with eight companies, followed by India (seven companies), while the USA ranks …

Oil prices fell by more than $1 on Tuesday as concerns over a possible recession and China’s COVID-19 curbs outweighed an expectation of tight global supply and a pick-up in fuel demand with the U.S. summer driving season. Brent crude futures for July fell $1.34, or 1.2 per cent, to …

China tripled investment in solar power projects in the first four months, putting the nation on track to install record amounts of new clean energy capacity. Investment in solar was 29 billion yuan ($4.3 billion) from January through April, about 204% higher than in the same period a year earlier, …

Oil was up on Monday morning in Asia as the U.S. peak driving season sees higher demand. Brent oil futures gained 0.63% to $110.71 by 12:26 AM ET (4:26 AM GMT) and crude oil WTI futures jumped 0.54% to $110.88. “Oil prices are supported as gasoline markets remain tight amid …

China landed record-high volumes of Saudi crude in April as the world’s biggest oil importer increased its dependence on the Middle East, even though its overall crude imports have plunged this year. The spike in Saudi imports was probably attributable in part to official Saudi selling prices that were well …

Oil prices extended gains on Wednesday on hopes of demand recovery in China as the country gradually eases some of its strict COVID-19 containment measures. Brent crude futures were up 48 cents, or 0.4%, at $112.41 a barrel at 0410 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed …

Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oil fields and led to an exodus of international oil majors that Baghdad wants to invest in its creaking economy. Since the start of 2021, plans by Russia’s Lukoil and U.S. …

China increasingly sees the war in Ukraine — and the roles of the United States and its NATO allies in backing Kyiv against Moscow — as a reflection of future tensions to come between the military bloc and Beijing in the Indo-Pacific. Ever since Russian tanks first crossed into Ukraine …

China has pledged to inject 10 billion yuan ($1.5 billion) into its coal-fired power firms to provide financial relief and support their efforts to guarantee power supplies, state media said late on Wednesday, citing a cabinet meeting. The new funding was part of a wider package of policies announced by …

Chinese oil buyers are spoilt for choice right now even as lockdowns hurt demand as they can opt for everything from discounted Russian crude and sanctioned Iranian oil to regularly-taken Middle Eastern barrels. While a wave of sweeping anti-virus curbs has put a dent in current consumption, China has an …