Russia overtakes Saudi as top supplier after 19-month gap Russian imports nearly 2 mln bpd in May Imports from Malaysia more than doubled in May yr/yr Customs reports 3rd Iranian Continue Reading
China’s gasoil, gasoline and jet fuel exports in May dropped to a four-month low of 1.77 million mt or 465.580 b/d, data released by the General Administration of Customs June Continue Reading
China imported 2.12 million mt of LPG, comprising both propane and butane, in May, up 7.1% month on month, mainly supported by a strong rebound in butane imports due to Continue Reading
Highlights May manufacturing production index lower on year Steel demand in vehicle industry continues improving in June Demand from home appliance, construction sectors remains poor China’s manufacturing production index for Continue Reading
U.S. President Joe Biden is considering scrapping tariffs on a range of Chinese goods to curb inflation, but no decision is likely before next week’s Group of Seven summit, people Continue Reading
China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on Continue Reading
Power consumption surged in large Chinese provinces north of the Yangtze river amid warmer-than-normal weather, with regions like Henan, China’s third-most populous province, challenged by record electricity demand. The maximum Continue Reading
Chinese state-owned energy companies are negotiating investments in the expansion of Qatar’s North Field and are ready to close long-term supply contracts, Reuters has reported , citing unnamed sources. The Continue Reading
China’s May gasoline exports fell 45.5% from a year earlier and diesel exports plunged 92.7% despite stalling domestic demand, as companies ran short of export quotas, Chinese customs data showed Continue Reading
Residents queue for a Covid-19 test in the Hongkou district of Shanghai, China, on June 11. Bloomberg News China’s biggest cities are doubling down on Covid-19 testing in a bid Continue Reading
Chinese refining rates have dropped significantly since last May despite soaring fuel prices in the region. Officially, China is limiting the export quotas to discourage refiners from producing excessive amounts Continue Reading
Highlights Traders see new China export quotas just drop in bucket China to focus on exporting more gasoline than gasoil China unlikely to inject more jet fuel supplies into Asia Continue Reading
European countries are experiencing a surge in Covid-19 hospitalisations driven by sub-variants of the highly infectious Omicron strain, threatening a fresh global wave of the disease as immunity levels wane Continue Reading
China, India importing 1 mil b/d more Russian crude Urals trading at almost $40/b discount to Dated Brent EU looks to US, Norway, Egypt to fill crude supply gap Russian Continue Reading
China has reduced air pollution nearly as much in seven years as the US did in three decades, helping to bring down average global smog levels in the process. The Continue Reading
China claims to have set two world records in deep-sea energy exploration this weekend. The country has been working hard to ensure its energy security by developing its own oil Continue Reading
Feedstock consumption at Shandong’s independent refineries rebounded to a four-month high of 8.18 million mt, or 1.93 million b/d, in May amid restarts from maintenances, with the level expected to Continue Reading
The measure is part of broader legislation to bolster U.S. competitiveness with China. Congress is pressing ahead with legislation that could rewrite the rules for American companies investing abroad, proposing Continue Reading
Saudi Arabia will provide some Chinese buyers with less crude than they asked for next month, while fulfilling requests from many other customers in Asia after OPEC+ pledged to speed Continue Reading
India and other Asian nations are becoming an increasingly vital source of oil revenues for Moscow despite strong pressure from the U.S. not to increase their purchases, as the European Continue Reading
David Fong made his way from a poor village in central China to the southern boomtown of Shenzhen as a young man in 1997. Over the next 25 years he Continue Reading
China’s capital Beijing is experiencing an “explosive” COVID-19 outbreak connected to a bar, a government spokesman said on Saturday, as the commercial hub, Shanghai,conducted mass testing to contain a jump Continue Reading
Saudi Arabia will ship lower-than-nominated crude oil volumes to some of its Chinese buyers next month. Many buyers in Asia have asked for more Saudi crude oil for July. This Continue Reading
Beijing and Shanghai both resumed mass testing for Covid-19 as new community outbreaks of the virus emerged just days after the two key Chinese cities eased social curbs that had Continue Reading
US defence secretary Lloyd Austin accused China of stepping up coercive behaviour towards Taiwan as he stressed that Washington would maintain its military capacity to resist any force that threatened Continue Reading
More than half of Shanghai’s 25 million residents will undergo Covid-19 testing this weekend, raising the prospect of extended periods of home confinement for any who test positive, a rude Continue Reading
China is building hundreds of thousands of permanent coronavirus testing facilities and expanding quarantine centres across many of its biggest cities as part of its zero-Covid policy, despite the economic Continue Reading
Oil prices gave up early gains on Thursday after parts of Shanghai imposed new COVID-19 lockdown measures, outweighing news of China’s stronger-than-expected exports in May. Brent crude futures for August Continue Reading
May crude oil imports around 10.79 mln bpd, up 11.8% on yr Jan-May crude oil imports down 1.7% yr/yr May refined oil product exports down 40% yr/yr Jan-May natural gas Continue Reading
Thousands of Tesla Inc. workers in Shanghai will be able to return to their homes from Friday, exiting a factory bubble set up to maintain operations during the city’s recent Continue Reading
China’s appetite for many of its key commodities remained subdued in May as a cocktail of surging international prices and domestic virus restrictions, including the city-wide shutdown of Shanghai, sapped Continue Reading
Chinese exports to the rest of the world surged in May as Covid-19 restrictions eased, adding to signs of recovery in the world’s second-largest economy after months of punishing pandemic Continue Reading
Tough restrictions in scores of cities have driven the country to the edge of recession for just the second time in three decades. But even though measures have been eased Continue Reading
China’s crude oil imports in May extended the continuous monthly recovery and gained 3.1% from April to 10.84 million b/d, data from the General Administration of Customs showed June 9. Continue Reading
China has issued 4.5 million tonnes of quotas for refined fuel exports, sources told Reuters on Tuesday, a top-up to the first issue for 2022 to ease high domestic inventories Continue Reading
Officials in a Chinese city on the border with North Korea say they can’t figure out where persistent new Covid-19 infections are coming from — and suspect the wind blowing Continue Reading
China has devised a new incentive to boost elderly vaccinations to levels that could finally allow the country to relax its zero-Covid strategy and revive the economy: insurance packages for Continue Reading
Dreams are unrealistic, impractical, demanding – but absolutely essential to living a rich and fulfilling life, Ralph Marston once said. But what if a dream is too good to be Continue Reading
China’s independent refining sector’s feedstock imports in May tumbled to a 34-month low as the prolonged lockdown in major cities capped crude buying. Inflows could improve in June as COVID-19 Continue Reading
Since Monday, the national average for a gallon of regular gasoline has increased by nine cents to $4.71. According to new data from the Energy Information Administration (EIA), total domestic Continue Reading
June gasoline exports seen capped at 227,000 b/d Slower-than-expected demand recovery adds to inventory buildup China’s gasoline and gasoil exports are likely to remain muted in June as Beijing is Continue Reading
Russian officials have raised increasingly frustrated requests for greater support during discussions with Beijing in recent weeks, calling on China to live up to its affirmation of a “no limits” Continue Reading
California port leaders expect imports to rise as Shanghai, home to the world’s busiest seaport, emerges from a two-month COVID-19 lockdown. The question is whether that release of pent-up goods Continue Reading
Key gauges of activity at European and Asian factories remained under pressure in May from China’s economic slowdown and the fallout from the war in Ukraine. New orders in the Continue Reading
The opening of Tesla’s Shanghai factory in 2019 was a breakthrough for electric vehicles and for overseas carmakers: it was the first wholly foreign-owned plant in the world’s largest car Continue Reading
China has declared victory in defending Shanghai from the coronavirus pandemic, underscoring Beijing’s unrelenting commitment to its zero-Covid strategy despite the economy teetering on the edge of recession and millions Continue Reading
Following two months of frustration, despair and economic loss, Shanghai’s draconian COVID-19 lockdown ended at midnight on Wednesday morning, prompting celebrations tempered with fear that an outbreak could return. Most Continue Reading
A severe slowdown for China’s economy during a year of acute political sensitivity for Chinese leader Xi Jinping is testing the credibility of Beijing’s official economic data. Figures this month Continue Reading
China’s purchasing managers’ index rose to 49.6 this month from 47.4 in April. Relaxing COVID measures in some of China’s industrial hubs may stimulate crude demand. For May, Russian seaborne Continue Reading
Highlights About 880,000 mt to arrive in June Arrivals dampen demand for other regular crudes China’s independent refineries in Shandong are set to resume taking Russian Urals, with the first Continue Reading
