India Forced to Pay Russia in Yuan, Handing China an Unexpected Win

China stands to gain from a surprising twist in global energy trade: India, long a rival and major oil importer, is now being forced to pay Russia for crude in Chinese yuan (RMB), a move that strengthens the yuan’s global role and indirectly supports China’s currency in ...

U.S. Expands Iran Sanctions, Targeting Chinese Firms Tied to Oil Shipments

The United States on Thursday imposed sanctions on dozens of people, companies and ships tied to Iran's oil sector, stepping up its campaign against a key revenue source for Tehran. The Treasury announced more than 50 targets aimed at people who ...

China Races to Stockpile Cheap Oil, Expanding Strategic Reserves Amid Global Tensions

China is in the midst of a massive oil stockpiling campaign that will add at least 169 million barrels of crude to its strategic reserves over the next year. So far, 37 million barrels of storage capacity have been built at 11 ...

China to Stockpile 169 Million Barrels of Oil by 2026

China is expanding its crude oil reserves with new storage sites scheduled for completion in 2025–2026. The effort will add at least 169 million barrels of capacity across 11 locations, according to public data. China has built about ...

New Insights Emerge About Iran’s Secretive (and Very Lucrative) Trade With China

It's been an open secret for years that China and Iran figured out some very creative ways to circumvent international sanctions to conduct billions of dollars in trade every year. Until now, though, it just wasn't clear how they did it. ...

Analysis from Cobus van Staden

How to Lure Chinese Financing Back to the Global South: Report

Global South countries face increasing financing pressure, endangering their ability to keep developing while also implementing measures to deal with a growing climate crisis. The disruption of global trade is coupled with a larger megatrend: flows of international capital to the developing world have turned negative. This means that countries are now routinely paying more to service loans than they receive in disbursements.

The vast majority of Global South borrowers ...

Spike in Chinese Oil Imports from Indonesia Sparks Iran Rumors

A surge in oil imports from Indonesia to China over the last two months has sparked allegations that China may be importing sanctioned Iranian oil via the Southeast Asian country. Since July, China has imported 2.7 million tons of crude oil ...

Independent Chinese Companies Drive Oil Investment Boom in Iraq

Independent Chinese companies are reportedly crowding into the Iraqi oil sector. Representatives from four Chinese companies recently said their combined output will reach 500,000 barrels per day by 2030, a 100% increase from current levels. The investment boom comes as smaller 

A PetroChina Insider Reveals About China’s Tumultuous Energy Gamble in Africa

HEADLINE TRANSLATION: "Thirty Years of PetroChina in Africa: Diplomatic Grace or a Long and Arduous Road Ahead?” In a rare and revealing essay published under a pseudonym, a veteran PetroChina executive, known ...

U.S. Treasury Chief Says China Talks Could Cover Iran, Russia Oil Buys

The next round of U.S.-China talks could include Chinese purchases of Russian and Iranian oil, U.S. Treasury Secretary Scott Bessent said Monday, a move that would shift the focus of trade negotiations into national security issues. U.S. President Donald Trump has ...

Trump Says China Can Continue to Buy Iranian Oil

China can continue to buy Iranian oil, U.S. President Donald Trump said on Tuesday, in what appeared to be relief for Tehran from sanctions that Washington has previously imposed to punish the trade. "China can now continue to purchase Oil from ...

Rubio Urges China to Persuade Iran Not to Close Strait of Hormuz

U.S. Secretary of State Marco Rubio called on China to use its influence with the Iranian government to discourage Tehran from closing the Strait of Hormuz, a strategically vital waterway that an estimated 20% of the world's oil supply passes through. ...

U.S. Urges China to Keep Iran From Shutting Key Trade Route

U.S. Secretary of State Marco Rubio urged China Sunday to help deter Iran from shutting down the Strait of Hormuz, a crucial trade route, following American strikes on Iranian nuclear sites. "I encourage the Chinese government in Beijing to call them ...
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