Category: Oil
Benin Allows Niger to Export Crude, Overcoming a Dispute
Benin's government said on Wednesday that it would allow the export of Nigerien oil through its port of Seme, resolving a tense standoff between the West African neighbors. Land-locked Niger last November inaugurated a giant oil pipeline to transport crude extracted ...
Chinese Firms Win Most Bids to Explore Iraq Oil and Gas
Chinese energy companies won bids to explore 10 Iraqi oil and gas fields during new licensing rounds, ahead of any other foreign country, Iraq's oil ministry said Monday. Seven Chinese companies, including Sinopec, UEG, CNOOC Iraq, and Anton Oilfield, won 10 ...
Chinese Oil Shipments Caught in the Middle of Niger-Benin Trade Feud
Thousands of barrels of Nigerien oil should be flowing daily through a new 1,900km pipeline to the Port of Seme in neighboring Benin, from where it would be transported to China. But the pipeline is dry as the two West African ...
Malaysia Sells a Lot More Oil (Mostly to China) Than It Produces
Iran sold just $1.2 billion worth of goods to China in the first quarter of the year, according to new China Customs data released this week. That figure, though, is wholly misleading since it does not align with the news that
Fearful of Further Roiling Ties With China, Biden Expected to Resist Congressional Pressure to Crack Down on Iranian Oil
The U.S. House of Representatives overwhelmingly passed legislation this week that aims to limit China's purchases of Iranian oil to sanction Tehran for last weekend's missile attack against Israel. The Iran-China Energy Sanctions Act of 2023 calls for secondary sanctions against Iran ...
China Imported a Record Amount of Oil Last Year
China broke its all-time record for oil imports last year, averaging 11.3 million barrels a day — 10% more than in 2022, according to new Chinese Customs data. Almost 20% of that volume came from Russia alone, which displaced Saudi Arabia ...
With New Oil Deal, China Holds Steady in Niger While Western Powers Withdraw
Niger signed a $400 million MoU with Chinese state-owned oil giant China National Petroleum Corp (CNPC) for the sale of crude oil from the country’s Agadem oilfield. Following the launch of a pipeline project in November backed by PetroChina, the publicly-listed arm ...
WEEK IN REVIEW: Apple Assembled $14 Billion Worth of iPhones in India in Its Last Fiscal Year
Apple assembled $14 billion worth of iPhones in India in its last fiscal year, providing more evidence of the electronics giant's rapid diversification of its supply chain beyond China. The company also hopes improved sales in the Indian market will help offset slumping demand for Apple products in ...
WEEK IN REVIEW: Chinese Premier Li Qiang Said Beijing Will Assist Sri Lanka in Its Debt Restructuring Process
Chinese Prime Minister Li Qiang provided fresh assurances on Tuesday to his Sri Lankan counterpart Dinesh Gunawardena that Beijing will assist Colombo in its debt restructuring process. Gunawardena is visiting Beijing this week and raised the issue of Sri Lanka's $7.1 billion outstanding loans owed to Chinese creditors.
China Calls for Calm in the Red Sea as Oil, Shipping Prices Steadily Edge Higher
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 Hosts Saudi Investment Event as Oil Buys Slump
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-China Oil and Gas Pipeline Control Station Destroyed in Latest Attack Affecting Chinese Interests
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 ...