Category: Oil

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 ...

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. ...

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 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 

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 ...

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 ...

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 ...

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. 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 ...

Iraq signed a major energy deal Wednesday with a Chinese petrol company in the southern province of Basra, aiming to boost oil production and build a refinery and electricity plants. China has gained a major foothold in oil-rich Iraq in recent ...

China National Offshore Oil Corporation (CNOOC) signed a purchase agreement with Abu Dhabi National Oil Corp (ADNOC) for liquid natural gas (LNG). The 5-year deal will see 500,000 tons of LNG shipped to China annually from 2026. It is the third ...

The United States on Wednesday sanctioned a second China-based "teapot" refinery for purchasing Iranian crude, in the latest salvo of Donald Trump's "maximum pressure" campaign against Tehran. The U.S. State Department said the sanctions against Shandong Shengxing Chemical Co., Ltd, which ...