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Page added on February 12, 2023
China’s Oil Giants Want More Russian Crude
China’s state-owned oil refining giants are speeding up purchases of Russian crude, citing the allure of cheap cargoes from the OPEC+ producer as demand recovered after Covid Zero was ditched.
China Petroleum & Chemical Corp., or Sinopec, as well as PetroChina Co. and CNOOC Ltd. have started and will continue to ramp up their procurement of Russian grades in the coming months, said people with knowledge of the matter, who asked not to be identified as the information is private. Shipments purchased include flagship Urals, which ships from Russia’s distant western ports, as well as ESPO, which loads from pacific terminals.
Sinopec declined to comment, while PetroChina and CNOOC didn’t immediately respond to Bloomberg News queries.
This marks a significant shift in the attitude of so-called Chinese oil majors toward Moscow, opening the flood gates for Russian crude and fuels to infiltrate more parts of Asia’s no. 1 refining nation. China and India have been the top two buyers of Russian crude since the European Union slapped an initial round of sanctions on Russia over the war in Ukraine. Chinese state-owned refiners have erred on the side of caution since then, while private refiners doubled down on cheap oil from the OPEC+ producer.
Processing Russian crude should improve refining margins at Chinese state-owned refiners, placing them in a competitive position to also export fuels to other buyers in Asia and Europe, said Daphne Ho, senior research analyst for oil and refining at Wood Mackenzie.
Since the sanctions took effect in December, Sinopec’s presence in the Urals and ESPO markets has been patchy at best, said traders who buy and sell crude across Asia. They said the company’s reluctance stemmed from reputational damages, as well as banking and financing complications at that time.
This week, Energy Aspects Ltd. reported that China’s daily oil imports from Russia could increase by as much as 500,000 barrels this year to about 2.2 million barrels.
Tankers current enroute from Russia to China include Crudemed and NS Arctic, according to data from Kpler and Bloomberg ship-tracking data. Both vessels had picked up their cargo from Russia’s Primorsk port, where Urals is typically loaded. The buyer is believed to be PetroChina, according to Kpler, although it’s unclear if the refiner will process the cargo or resell it.
21 Comments on "China’s Oil Giants Want More Russian Crude"
makati1 on Mon, 13th Feb 2023 3:55 pm
China/India buys at a discount, refines or just reships it to Urope for a huge profit. I wonder if the US idiots really thought how their stupid sanctions would work in the real world? Russia is selling its oil for a profit and China/India are making billions. Who is hurting? Answer: UROPE and, eventually, the US.
ii oo o o on Wed, 15th Feb 2023 4:25 am
When the united nations will dare to help Whites people living in New Zealand. I know when , never. We now have a confirmation that the Jews, brown shit skin and the united nations hate Whites people. I see no nations help New Zealand.
Cyclone Gabrielle moves away from New Zealand; 225,000 people living without electricity | WION
https://www.youtube.com/watch?v=BCXSCFmDMg4
pplmmrm on Wed, 15th Feb 2023 5:19 am
I hate earth theater. You going to have to do better to entertain me. I find it old and repetitive this Ukraine and Russia war. It is an old scenario that has been played many times
Entertainment me better, fucking useless piece of shit.
nnn ttnttn on Wed, 15th Feb 2023 5:33 am
GOD earth theater sucks ass. Do you have anything else then war in theater. Do you have any originality ? No you don’t have any creativity or originality. War theater has been played too many times.
mm m m m on Wed, 15th Feb 2023 5:40 am
You war theater is garbage. I prefer this kind of theater, we need more train convoy crashing, more maritime container ship capsizing during loading and unloading, more earthquake, more nuclear plants blowing it up, more freezing rain, more electrical dam collapsing, more politician killed by angry mob, more cops killed by angry mob.
THis is the kind of theater I want, stop garbage war thearter.kk k
nn rrrmn on Wed, 15th Feb 2023 5:42 am
Give me better theater, fucking useless earth narrative writers. Do better fucking losers
mm m m m on Wed, 15th Feb 2023 5:48 am
I am fed up with your bullshit theater where you sit at a table and read BS script writen on a piece of paper. I want real destruction.
ee eee e on Wed, 15th Feb 2023 6:24 am
I have two knife harness and two military vest that I sew myself. I was wondering who or what I could kill with my knife. Let’s we transform all the Asians into Grey aliens, I guess that could be entertaining for me. As far as I know they are no laws about killing a grey alien.
I could go out and kill grey alien without going in prison.
Make me life more interesting. Populate the earth with grey alien so I can something alive to kill where I would not go in prison.
Your fucking war scenario suck ass.
iie eeekeke on Wed, 15th Feb 2023 6:29 am
I want to know when the United nation will send help to New Zealand. When is the united nations will help White people instead of always helping low IQ brown shit skin race and negros.
New Zealand live: 6.1 magnitude earthquake jolts New Zealand while Cyclone Gabrielle moves away
https://www.youtube.com/watch?v=jymLNR1KbJs
i appoint supertard with irregular names such as iii ee ie supertard how bazzare his title is the lover of supremacist muzzies on Wed, 15th Feb 2023 6:30 am
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
mm m m m on Wed, 15th Feb 2023 6:49 am
You see the bitch on the left, is she human or a alien. If she is an alien and I killed her, do I go to prison. Killing an alien is probably like killing an dog, nothing happen.
https://www.youtube.com/watch?v=bxPNWgLl52c
Make my reality more interesting, this is a shit reality. War theater has been playing to for long. Now it is time to move on to a more interesting theater, human against aliens. Humans go out and kill aliens to protect earth against invasion. I could finally use my chest knife harness and my knifes.
ooo rr r r r on Wed, 15th Feb 2023 7:17 am
Fuck Canada kindness week. This is my reality. This reality was created to entertain me, not you.
I hate your Ukraine-Russia war Theater. It has been played too often.
I want to kill something walking on two feet, why not a war between human and grey aliens. Earth need a new war scenario, human against grey aliens. I can finally kill something without going to prison. No difference between killing a dog and a grey alien, they are both animals. I could finally wear my tactical vest and do autopsy on grey alien and compare their anatomy to the ones of humans. Fuck womens and kids
https://www.youtube.com/watch?v=suBa1Jld8WQ
eeec on Wed, 15th Feb 2023 8:11 am
you shadow all my comments
rrrr on Wed, 15th Feb 2023 8:28 am
GOD has inserted himself directly in the scenario , While I was making my comments last night. GOD has created an earthquake in New Zealand for me. This is GOD way to let the world know that he is working with me.
We are both waiting for UN response.
ee eee on Wed, 15th Feb 2023 2:23 pm
I am wiating for the cuck sucker of UN to help New Zealnd. i see how much you hate white people.
ee ee ee on Wed, 15th Feb 2023 2:29 pm
Does not matter if you erase my comment, you still do not control earth reality calculator, that makes you loser that write loser narrative with no real power
ee e er on Wed, 15th Feb 2023 3:11 pm
The laptops are moving in the celling to be innacessible. Fuck your BS boring theater.
ee ee e ee on Wed, 15th Feb 2023 4:00 pm
You have been runing fake theater for 500 ans you still do not have acces to the calculator of the reality. You are just fucking loser with no real power.
Dino Game on Thu, 16th Feb 2023 1:51 am
I want to know more about it.
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