Post Tagged with: "China"

China’s crude oil imports surpassed 10 million barrels per day in 2019

China’s crude oil imports surpassed 10 million barrels per day in 2019

EIA

China’s annual crude oil imports in 2019 increased to an average of 10.1 million barrels per day (b/d), an increase of 0.9 million b/d from the 2018 average. China remains the world’s top crude oil importer, surpassing the United

March 23, 2020 - 1:59 pm China, EIA News That Matters, Energy News
Coronavirus crisis could slow the rate of energy transition, Rystad says

Coronavirus crisis could slow the rate of energy transition, Rystad says

Energy Today

Oil & Gas 360 Publishers Note: Here is one you would not have seen coming last year. The fast moving renewable market being slowed down, and coal production going up. Key takeaway from this article: China’s coal mines

Source: Reuters

Oil retreats in face of renewed coronavirus uncertainties

Reuters


LONDON – Oil prices fell on Friday as a rise in new cases of coronavirus and weak Asian data fuelled uncertainty about the economic outlook while leading crude producers appeared to be in no rush to curb output.

Brent …

February 21, 2020 - 10:00 am China, Closing Bell Story‎, Crude Oil News, Energy News
Source: CNBC

Global oil demand set to see first quarterly decline in over 10 years, IEA says

CNBC


Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA), as the new coronavirus and widespread shutdown of China’s economy hits demand for crude.

Demand is …

Source: Reuters

Oil prices climb on prospects for deeper OPEC+ output cuts

Reuters


NEW YORK – Oil prices edged higher on Thursday, as investors hoped the world’s biggest producers would cut output more, while they largely shrugged off forecasts of slumping demand due to the coronavirus outbreak in top oil importer China.…

February 13, 2020 - 12:00 pm China, Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

Coronavirus paralyses short-term oil, gas sales into China

Reuters


SINGAPORE – Short-term sales of crude oil and liquefied natural gas into China almost ground to a halt this week as the coronavirus slows economic activity and cuts demand and buyers ponder legal action to avoid having to honor …

Source: CNBC

Oil falls more than 2%, sinking to lowest level in more than 1 year

CNBC


Oil prices fell more than 2% on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support.

U.S. West

Source: Reuters/Rodrigo Garrido

U.S. lifts Iran sanctions on one unit of Chinese shipping giant COSCO

Reuters


WASHINGTON – The United States on Friday lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about …

Source: Reuters

Oil falls as coronavirus hits demand; OPEC+ considers deeper cuts

Reuters


LONDON – Oil prices fell on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support.

Brent crude LCOc1 …

Source: Houston Chronicle

China invests $600 million into Mexico’s Dos Bocas refinery

Houston Chronicle


Plans to build a new $8 billion refinery in Mexico got a boost from the Chinese government.

During a Monday morning event in Mexico City, China’s ambassador to Mexico Zhu Qingqiao announced that the Bank of China and the …

January 14, 2020 - 10:00 am China, Closing Bell Story‎, Energy News
Source: Reuters

Oil hovers near three-month highs on trade progress, lower inventories

Reuters


LONDON – Oil prices hovered near three-month peaks on Thursday, buoyed by falling U.S. crude inventories and thawing trade relations between the United States and China.

Brent crude futures were up 19 cents at $66.36 a barrel at 1447 …

The world’s Top 10 carbon dioxide emitters

The world’s Top 10 carbon dioxide emitters

Forbes


Over the next two weeks, representatives from 200 countries are convening for the United Nations Climate Change Conference in Madrid. The Conference of the Parties to the UN Convention on Climate Change (COP) is tasked with making sure the …

December 4, 2019 - 3:30 pm China, Closing Bell Story‎, Energy News
Source: Reuters

U.S., allies working to offset loss of Iranian oil: Mnuchin

Source: Reuters


NEW DELHI (Reuters) – The United States is working with allies to ensure adequate global oil supplies after its sanctions barred nations from buying Iranian crude, U.S. Treasury Secretary Steven Mnuchin said on Friday.

Mnuchin spoke to reporters …

Source: Reuters/Rodrigo Garrido

Tankers sail after U.S. allows sanctions-hit COSCO unit to wind down oil deals

Reuters


At least three tankers are on their way to Asia with U.S. oil cargoes after Washington gave temporary approval to wind down transactions with a Chinese shipping company that it sanctioned last month, according to data and shipping sources.…

Source: AP

Dilemma for oil refiners as surging ship costs kill margins

Source: Houston Chronicle


Oil refiners hoping for some fourth-quarter gravy are facing disappointment as surging freight rates inflate the cost of buying crude.

U.S. sanctions on Chinese shipping companies and Friday’s attack on an Iranian tanker have turbo-charged transport costs, …

October 15, 2019 - 8:32 am China, Closing Bell Story‎, International
U.S. sanctions hit global oil fleet as traders shun nearly 300 tankers

U.S. sanctions hit global oil fleet as traders shun nearly 300 tankers

Source: Reuters


MEXICO CITY/SINGAPORE (Reuters) – Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said.

The move has taken roughly …

Novatek in talks on LNG transhipment after U.S. sanctions China COSCO tankers

Novatek in talks on LNG transhipment after U.S. sanctions China COSCO tankers

Source: Reuters:


Russia’s liquefied natural gas (LNG) producer Novatek is in talks to tranship its Yamal cargoes in Norway or Russia’s Murmansk because it is unsure of the impact of U.S. sanctions on the Chinese COSCO tankers it uses, …

October 8, 2019 - 9:52 am China, Closing Bell Story‎, Crude Oil News
Canadian company ships solid oil sands bitumen to Chinese refinery

Canadian company ships solid oil sands bitumen to Chinese refinery

Source: Reuters


Canadian company ships solid oil sands bitumen to Chinese refinery - oil and gas 360

A Canadian company has loaded a test cargo of solid bitumen onto a vessel destined for a refinery in China, the latest effort by the energy industry to avoid congested export pipelines and find new ways to export …

September 26, 2019 - 2:14 pm Canada, China, Closing Bell Story‎, International, Oil Sands
Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

From Reuters


Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.

Brent crude LCOc1 settled …

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

From Reuters


China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including …

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

From Reuters


Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal.…

Oil Spills Into U.S.-China Trade War, Prices Slump

Oil Spills Into U.S.-China Trade War, Prices Slump

From Reuters


China on Friday said it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global …

An Oryx Midstream facility (source: Oryx Midstream Services)

Qatar May be Losing the Top Spot as World’s Biggest LNG Exporter

From CNBC


Qatar will lose its title as the world’s largest exporter of liquefied natural gas (LNG) within the next year, as Australia ramps up production on a slew of multi-billion dollar export projects.

“Australia and Qatar continued to jostle …

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

From Reuters


President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession.

Trump, who has …

World Powers Increasingly See Icy Arctic as a Hot Property

World Powers Increasingly See Icy Arctic as a Hot Property

From AP News


From a helicopter, Greenland’s brilliant white ice and dark mountains make the desolation seem to go on forever. And the few people who live here — its whole population wouldn’t fill a football stadium — are poor, …

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

From Reuters


Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts.

Traders are awaiting a speech from Federal Reserve Chair Jerome Powell …

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

From The Houston Chronicle


The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring.

U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in …

Courtesy of Chesapeake

Oil Steadies as Hopes of Easing Trade Tensions Lend Support

From Reuters


Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand.

Brent crude LCOc1 …

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

From CNBC


An escalating trade war between the world’s two largest economies is negatively impacting the outlook for U.S. crude shipments, energy analysts have warned, amid fears that China could soon dramatically reduce its intake of American oil.

Trade tensions …

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

From Reuters


Oil prices gained roughly 2% on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces threatened crude supplies and as traders looked for signs that top economies would take measures to counteract a …