Tag Archives: China

China’s crude oil imports from the U.S. soared 13 fold in November from a year earlier to the third highest on record, customs data showed on Dec. 25, as companies accelerated energy purchases set out under a trade deal with Washington. China’s U.S. oil imports hit 3.61 million tonnes, about …

Saudi Arabia’s oil exports to China increased by 43% month-on-month (MoM) in November 2020 to reach 8.48 million tons, or 2.06 million barrels per day (bpd). Accordingly, the Kingdom, the world’s second biggest economy, restored its position as the largest oil supplier to China, Reuters reported. Russia came second, with …

Six US chemical and oil products will not be targeted by additional duties for another year, according to China’s finance ministry. The exemptions were initially introduced after the two countries reached a phase-one trade deal. The extension will come into force on Saturday and last until December 25, 2021, the …

China will fully lift access restrictions on foreign investment in coal, oil, gas, power generation, excluding nuclear, as well as the new energy businesses, according to a sector white paper released on Monday, reported Reuters. Separately, a top energy official told reporters that recent power shortages in some Chinese regions …

China’s largest refiner, Sinopec, expects domestic demand for oil products to peak by 2025 due to COVID impacts and the rise of electric vehicles, Argus reported on Friday, citing Sinopec’s research think-tank as saying in its annual report. “China’s oil products will enter a final growth phase before peaking in …

The Russian government has approved the participation of the China Petroleum & Chemical Corporation (Sinopec) in a large petrochemical project. Thus, the Cabinet, led by Michail Mishustin, is acting in accordance with Moscow’s strategy of establishing closer economic relations with Beijing. As per a framework agreement signed by the parties …

China is looking to attract investments in shale gas developments by easing restrictions on foreign entities and subsidizing costs in a bid to boost its natural gas production while its demand continues to grow. China has shale gas reserves but the geology to extract those resources is challenging, so it …

Iraq is poised to sign a multibillion-dollar contract with China ZhenHua Oil Co., a bailout from Beijing for the cash-strapped government which will receive money upfront in exchange for long-term oil supplies. The deal is the latest example of China, via state-controlled trading companies and banks, lending to struggling oil …

China is on a quest for world domination. Beijing has been making assertive moves into global energy markets for a while now, stepping into energy market power vacuums in largely untapped markets around the world. Chinese president Xi Jinping has made major inroads with his ambitious Belt and Road Initiative, …

The Trump administration plans to add China’s top chipmaker SMIC and oil giant CNOOC to a blacklist of alleged Chinese military companies, escalating tensions with Beijing before President-elect Joe Biden takes office, according to sources familiar with the matter and a document seen by Reuters. The Department of Defense (DOD) …