Tag: Chinese
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First shipment of Russian oil to Pakistan paid in Chinese currency (Update)
The first shipment of Russian oil to Pakistan was a glimmer of hope for the Islamabad government, which seeks to reduce the energy bill in light of the country’s suffering from a stifling economic crisis, as a result of which foreign exchange reserves fell to less than $10 billion, and its national currency underwent a…
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Chinese Unipec sales of Omani oil jumped to 8 million barrels in June
China’s Unipec company’s sales of Omani oil rose to a record level during the month of June, reaching 8 million barrels for loading in August, at a time when Saudi Arabia announced a reduction in oil production and an increase in official selling prices, as well as an increase in flows to China. Unipec did…
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The Sultanate of Oman invites Chinese companies to invest in oil and hydrogen production
The Sultanate of Oman is preparing to enhance opportunities for cooperation and economic partnership in the energy and mineral sectors with China, especially in the field of oil production. An Omani delegation visiting Beijing is currently discussing opportunities to increase the participation of Chinese companies in production, exploration and refining operations, as well as investing…
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Chinese fuel exports decreased for the second time in 2023
Chinese fuel exports in the second batch of 2023 are expected to decline by up to 12 million tons (85.2 million barrels), as domestic demand continues to improve. A survey of 4 government refining sources and 3 consulting firms showed that the second batch of export quotas for gasoline, red diesel and jet fuel could…
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Aramco President: We support Chinese energy security through 3 main strategies
The CEO of Saudi Aramco, Amin Al-Nasser, announced that the oil giant has affirmed its support for China’s long-term energy security and development. Al-Nasser said, before the China Development Forum today, Sunday, March 26 (2023), that the company has partnerships and technologies to reduce emissions with China to produce low-carbon products. Al-Nasser also indicated that…
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Chinese refineries are preparing to increase their imports of Russian oil
Chinese refineries continue to receive flows of Russian oil, and Beijing is seeking to increase the pace of those flows in the coming times, through unannounced official moves with representatives of those refineries. The increase in China’s imports of Russian oil reflects Moscow’s success in providing markets that can absorb its crude, instead of Europe,…
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The Iranian Yadavaran field is close to a Chinese deal… 30 billion barrels of oil reserves
The Yadavaran field is preparing to revive the Iranian oil sector with more production, amid ongoing negotiations with the Chinese company Sinopec, the developer of the first phase of the project 15 years ago. The Iranian oil company entered into negotiations with its Chinese counterpart, Sinopec, to revive the agreement to develop the second phase…
