Tag: CHINA

Saudi retains top spot in oil supplies to China

Saudi Arabia, the world’s biggest oil exporter, kept its ranking as China’s top crude supplier for a ninth straight month in August as major producers relaxed production cuts

CNPC plans new shale oil field near northeast China’s Daqing

China National Petroleum Co (CNPC) said that it plans to produce new shale oil from formations within the existing Daqing oil field area that will help replenish production in decrease of that site

Oil slides on China virus curbs and climate warning

Oil prices fell by 4%, extending last week’s steep losses on the back of a rising US dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand

US mulls crackdown on Chinese imports of Iranian oil

The United States is considering cracking down on Iranian oil sales to China as it braces for the possibility that Tehran may not return to nuclear talks or may adopt a harder line whenever it does

China buys less Saudi crude as it slams the brakes on oil imports

Saudi Arabia remained China’s single largest crude oil supplier in June, ahead of Russia, although Saudi shipments to the world’s top oil importer fell by 19 percent last month amid lower overall imports

OPEC sees world oil demand reaching pre-pandemic level in 2022

OPEC forecast that world oil demand would rise in 2022 to reach a level similar to before the pandemic, led by growth in the United States, China and India

CGC buys local unit of China’s Sinopec

Argentine energy firm Compañía General de Combustibles (CGC) said it had acquired the local operation of China’s Sinopec Group, helping it increase its production to over 50,000 barrels of oil equivalent per day

China’s Saudi oil imports plunge 21%

China’s imports from Saudi Arabia fell 21 percent in May from a year earlier but retained their top ranking among suppliers for a ninth month in a row, customs data showed

Despite uncertainties, OPEC sticks to forecast of oil demand surge in second half

In a monthly report, the Organization of the Petroleum Exporting Countries said demand would rise by 6.6% or 5.95 million barrels per day (bpd) this year. The forecast was unchanged for a second consecutive month

Saudi Arabia holds spot as China’s top crude supplier in April

Shipments from Saudi Arabia were 6.47 million tonnes last month, or 1.57 million barrels per day (bpd), hitting their lowest since October, data from the General Administration of Chinese Customs showed