Tag: China
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Fuel prices in China are witnessing a new increase
The National Development and Reform Commission (NDRC) announced a hike in fuel prices in China, starting at 12:00 am on Wednesday, May 31 in various Chinese regions and cities, as it is scheduled to increase the prices of gasoline and diesel in the domestic market by about 100 and 95 yuan. ($ 14.13 and $…
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Russian oil is flowing to India and China above the price ceiling levels
India and China turned a blind eye to the US warnings, as they continue to import Russian oil at prices that exceed the ceiling set by Western countries in an attempt to reduce Moscow’s energy revenues. Beijing and New Delhi captured the vast majority of Moscow’s oil exports in April (so far) at prices above…
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Saudi Aramco announces a huge acquisition deal to boost its presence in China
Saudi Aramco has strengthened its presence in the refining and petrochemical sector in China through a huge acquisition deal. Aramco (one of the world’s leading integrated companies in the field of energy and petrochemicals) has signed definitive agreements to acquire a 10% stake in Rongsheng Petrochemical Company Limited, which is listed on the Shenzhen Stock…
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Russian oil reduces temptations to China and India amid fierce competition for Espoo crude (report)
Russian companies tended to reduce offers of generous Russian oil discounts offered to China and India, the largest Asian and global economies, amid fierce competition for demand over the past months. Private Indian refineries are competing with their Chinese counterparts for future purchase contracts for Russian Espoo crude for delivery in April (2023), according to…
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China ramps up purchases of Russian oil, fearing “cut” threats
China has intensified orders to buy Russian oil over the past weeks, amid fears that Moscow will cut production. In response to Western sanctions, which force it to make cuts that greatly harm its revenues. And Chinese refineries took advantage of the attractive discounts offered by Russia, and intensified purchases through import orders in large…
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Energy relations between China and Iran are not a win-win deal for the two countries (article)
Read in this article • Production from the Yadavaran field will start in the first half of 2023 • In recent years, Iran has signed long-term cooperation documents with China and Russia • On the first day of the Iranian President’s visit to China, the two sides signed 20 cooperation documents • The Iranian leadership…
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The recovery of gasoline demand in China brings fuel exports to the lowest level
Read in this article Chinese refineries began cutting back on refined fuel exports in January. Gasoline exports fell as road traffic recovered in major Chinese cities. Domestic consumption of gasoline was high during the annual Chinese new travel season. China’s seaborne jet fuel exports may also decline in February. Gasoline demand in China is rebounding…
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Indonesia’s oil and gas sector is preparing to put up 10 offshore blocks, some of which may excite China
The oil and gas sector in Indonesia is preparing for a recovery in the coming years, amid government plans to launch new offshore blocks, but some of them may raise the sensitivity of China, with which it disputes over the South China Sea. The Indonesian Ministry of Energy is considering offering 10 offshore blocks for…
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Fuel prices in China are falling again in conjunction with the increase in exports of gasoline and diesel
Fuel prices in China have fallen again, amid fears of a decline in domestic demand with the increase in coronavirus cases. Yesterday, Tuesday, January 17, the National Development and Reform Commission announced that, starting from midnight last night, the prices of oil derivatives in China will decline in most cities, according to the data seen…