Category: Oil

The Chinese Foreign Ministry issued a new appeal for calm in the Red Sea on Tuesday but made no mention of reports as to whether or not Beijing spoke with officials in Iran to rein in Houthi militants attacking cargo ships. ...

China is hosting an investment conference focusing on Saudi Arabia on Tuesday. The event will coincide with a visit to Beijing by Saudi Arabia’s Investment Minister Khalid Al-Falih. The event will focus on enhancing cooperation in fields like clean energy, finance, and ...

Myanmar’s military government said several of the country’s armed insurgent groups destroyed a control station of the Myanmar-China oil and natural gas pipeline in a state bordering China. The attack happened in the northern Shan State, which borders China’s Yunnan Province. The ...

China bought an average of 1.05 million barrels of Iranian oil per day for the first ten months of the year, as Iran’s output keeps growing. The data from the shipping tracker Vortexa shows that Chinese imports are the highest since 2018, when the U.S. imposed sanctions against Iran. ...

China's independent oil refiners, known as teapots, are betting that the U.S. won't crack down on Iranian oil shipments for fear of pushing up prices. While higher gas prices in the U.S. are always very sensitive, particularly in the run-up to ...

After decades of ever-growing oil use, China's oil demand may have peaked this year, according to Chinese oil executives cited by FT. This has significant implications for countries from Angola to Russia to Brazil, which depend on selling oil to China.

Fossil fuel subsidies in 2022 amounted to $7 trillion globally, about 7.1% of global gross domestic product. It shot up by 18.3% year on year, partly in response to the Ukraine war, according to research by the IMF. The subsidies worsen ...

Saudi Arabia is preparing to increase oil shipments to China in 2024 to meet growing demand from a crop of new refineries that will come online next year, according to S&P Global Commodity Insights. While Russian sales are expected to remain strong ...

China is importing a record amount of Iranian crude, easily circumventing U.S. sanctions expressly designed to restrict such trade, according to new findings by the data intelligence firm Kpler. Iranian oil sales to China have jumped this year from an average ...

Russia is now China's largest single supplier of energy commodities in a shift that is also transforming Beijing's trade engagement in countries throughout the Global South. Whereas fifteen years ago, China sourced a third of its imported crude oil from African ...

Iran’s oil output has jumped by 80% to about 1 million barrels per day since President Ebrahim Raisi took power in 2021. China is one of the Islamic Republic’s largest oil buyers, despite formidable sanctions from the U.S. and other countries. ...

The Chinese embassy in Niger called on its nationals in the country to shelter in place until the security situation stabilizes following last week's military coup. So far, there have been no reports of Chinese casualties or any adverse impact on Chinese ...