Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Page added on February 24, 2018

Bookmark and Share

Russia remains China’s top oil supplier as pipeline expands

Russia remained the top crude oil supplier to China in January, data showed, beginning 2018 on a strong note after the start-up of an expanded trans-Siberia pipeline and as Beijing released more crude import quotas to independent refiners.

Angola and Iraq took the second and third positions for the month, leapfrogging Saudi Arabia, which was the second-largest supplier to China in 2017.

Russian supplies came in at 5.67 million tonnes, or 1.34 million barrels per day (bpd), up 23.4 percent from a year earlier, data from the Chinese General Administration of Customs showed on Saturday.

The January number compared with 1.194 million bpd in December.

Last month, data showed Russia notched up its second year as China’s largest supplier in 2017, surpassing Saudi Arabia – OPEC’s top exporter – by some 150,000 barrels each day.

The strong Russian exports to the world’s largest crude oil buyer came as a second East Siberia-Pacific Ocean (ESPO) pipeline, as well as expanded domestic connections in China, started commercial operation in January.

In a reshuffle of the pack, Angola ranked second with 4.68 million tonnes, or 1.1 million bpd, of crude in January, down 5.4 percent from a year earlier.

China imported 4.45 million tonnes, or 1.05 million bpd, of crude from Iraq, up 28 percent from a year ago.

Saudi Arabia supplied 4.29 million tonnes, or 1.01 million bpd, to China in January. That was down 15 percent from the same year-ago rate and compared with 1.11 million bpd in December.

Even so, exports from the kingdom are expected to rise to record levels this year as Saudi Aramco ramps up supplies to Chinese state oil firm CNOOC, as well as the Huajin refinery owned by defense giant NORINCO.

China’s total crude oil imports last month soared 20 percent from the same month a year earlier to a record rate of 9.57 million barrels per day, beating the previous peak of 9.17 million bpd.

Customs data also showed China’s oil imports from the United States soared to 2.01 million tonnes last month, or roughly 472,508 bpd. That compares with just 257,861 tonnes a year ago.

In 2017, U.S. shipments, which benefited from OPEC-led supply cuts, averaged about 153,000 bpd.

Reuters



13 Comments on "Russia remains China’s top oil supplier as pipeline expands"

  1. bobinget on Sat, 24th Feb 2018 1:13 pm 

    Combined, Russia and Saudi Arabia cannot hope to satisfy China’s future needs. Venezuela OTOH, can.
    W/O Venezuela in a very few years US will suffer economy killing high oil prices, due to shortages.

    China and Russia could win world’s largest stash of petroleum w/ out a shot. (except, by Maduro’s army against protesters).
    Recent history (Syria) tells us, when government
    fires live ammunition into protesters, endless blood flows.

    Either Russia and China can bring peace to Venezuela, rebuild oil infrastructure, the economy,
    or crude oil exports will continue to fall.

    IOW’s No More Venezuelan crude oil in either case.

    This fact is slowly becoming evident as Canada, forced to discount it’s oil to a single client. If BC permits Alberta to build an Asian export pipeline, Canada will no longer be forced to
    ‘give away’ its main source of income in the West.

  2. Davy on Sat, 24th Feb 2018 1:29 pm 

    Bob, on a scale of 1-10 how much do you hate the US? 10 being worst. You are another friggen old man like billy 3rd world with a grudge. You have been parroting your Venezuela song for how many years? Same old dumbass another day. China and Russia are getting an education in Venezuela and you can’t see it. Lmfao

  3. bobinget on Sat, 24th Feb 2018 1:39 pm 

    Davy, thanks for your unusual brevity.

  4. rockman on Sat, 24th Feb 2018 2:40 pm 

    Bob – According to the latest EIA numbers I could find only 7% of US oil imports came from Venezuela. Not zero but not impossible to replace from other sources. OTOH your speculation about Canada potential finding Asian buyers is valid. Again from the latest EIA numbers we get about 52% of our crude imports from Canada. But even with potential competition from Asian buyers the US has a couple of advantages. First, it will cost a bit more to transport to Asia then to the US. Second Canada has to import from the US almost 40% of the condensate/light oil it needs to blend dilbit. Many of the same oil traders that sell condensate/light oil to the Canadians are also making huge profits by importing dilbit. It would be a simple matter for them to trade US condensate/light oil for dilbit. In fact much of the current Canadian imports may already be structured that way.

  5. Davy on Sat, 24th Feb 2018 3:44 pm 

    Rock, that is too boring for bob. He wants this to be about Russia and China kicking the doors in on the US. Venezuela will be the final countdown to an American oil Armageddon. Bob swears by it.

  6. MASTERMIND on Sat, 24th Feb 2018 5:52 pm 

    The End of the Oil Age is Imminent!

    Recently, the HSBC oil report stated that 80% of conventional oil fields were declining at a rate of 5-7% per year. This means that there will be an oil shortage of ~30 million barrels per day by 2030 and ~40 million barrels per day by 2040.
    http://www.scribd.com/document/367688629/HSBC-Peak-Oil-Report-2017

    What is mentioned far less often is that annual oil discoveries have lagged annual production since the 1980s.
    https://imgur.com/a/6dEDt

    Now, this problem has nothing to do with the recent decline in the oil price, which started in 2014. This has been an on-going problem for the past 30 years. Now, the IEA is predicting oil shortages by ~2020 due to declining exploration.
    https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000

    Here, the IEA blames this problem on the low oil price. But, this problem started in the 1980s. The problem is geological: we are running out of conventional cheap oil. Shale and tar sands are not the answer, either. Those resources are far too expensive, compared to conventional oil, because the global economy is based on cheap conventional oil. Expensive oil is not a replacement for cheap oil.

    Based upon the HSBC report and the IEA, the End of Oil Age will start around ~2020: there will be a dramatic economic depression due to exhaustion of cheap oil. This will cause a global economic collapse.

  7. Pat on Sat, 24th Feb 2018 9:24 pm 

    We are in highly volatile times, volatile oil scenarios. seen how volatile situations in places like venezuela,middle east, north africa and the natural geological factors can have on the world economy. the last black glue, tar, heavy, shale and dying oil giant fields not going to last long or will not able support the ever rising demand of oil, normal function ing of world. forget reneweables(they cannot make world function, support 7 billion, industry, engines of world), start prepare for end of bau, end of 2018 is near, already many nations hoarding away oil in underground storage…. start preapare….

  8. MASTERMIND on Sat, 24th Feb 2018 9:38 pm 

    Pat

    Prepping is futile!

    *Post-collapse Preparation Is the Answer*

    Myth: Well-prepared individuals, groups, and communities will survive our impending collapse and maintain healthy, fulfilling, and productive lives in its aftermath.

    Reality: Those who survive our collapse will be those who can obtain sufficient life sustaining essentials—especially clean water and food—on a continuous basis, both during and after collapse. Those who store large quantities of these essentials and those who attempt to produce food, either individually or in communities, will be easy targets for the vast majority who have neither the foresight to store nor the skills to produce. No matter how remote or secluded your sanctuary, somebody will know about it; and they will come to call when they become desperate; and they will be well armed and devoid of compassion. You can prepare for a last stand, but you cannot prepare for post-collapse survival. Post-collapse Life Will Be Preferable to Our Industrial Lifestyle Paradigm

    Myth: Industrialization has brought nothing but misery and degradation to the human race; our quality of life (and spiritual wellbeing) will improve substantially in a post-collapse world.

    Reality: The post-collapse lifestyle awaiting the few who survive will, under the best of circumstances, share many attributes with pre-Columbian America. Unfortunately, the realities associated with subsistence level existence bear little semblance to the Hollywood accounts.
    Those who anxiously await our post-collapse world will be disappointed, assuming they live to experience it. The fact that nobody is opting to jettison the amenities afforded by an industrialized way of life in favor of a hunter-gatherer lifestyle today should be sufficient proof that our future way of life is not something to be anticipated. Industrialism is not inherently “evil” or immoral; it is simply physically impossible going forward.

  9. dissident on Sun, 25th Feb 2018 9:11 am 

    I hope Russia progressively shifts its oil and gas exports to China. The haters in the EU need to eat their own sh*t.

  10. Cloggie on Sun, 25th Feb 2018 9:20 am 

    “I hope Russia progressively shifts its oil and gas exports to China. The haters in the EU need to eat their own sh*t.”

    Dream on. Russia has a long-term European strategy.

    https://www.reuters.com/article/us-russia-sanctions-gazprom-analysis/russian-gas-pipelines-to-go-ahead-despite-u-s-sanctions-idUSKBN1AJ1AN

  11. Boat on Sun, 25th Feb 2018 10:47 pm 

    Clog

    Why is the EU spending this money on Russian FF instead of renewables.

  12. MASTERMIND on Sun, 25th Feb 2018 11:28 pm 

    hey look its clogg
    https://imgur.com/Km6gEUg

  13. Boat on Mon, 26th Feb 2018 12:16 am 

    India and friends take on China

    https://m.economictimes.com/news/defence/india-to-host-mega-naval-exercise-amid-chinas-manoeuvring-in-high-seas/articleshow/63069995.cms

    Is Asia turning on China?

Leave a Reply

Your email address will not be published. Required fields are marked *