Category: Oil

The CEO of the massive state oil company Saudi Aramco told an industry gathering this week that large oil buys from China and India are keeping oil fundamentals “sound” for the remainder of 2023, despite price pressures among traditional clients. This comes ...

Finland's Center for Research on Energy and Clean Air recently published a fascinating report on recent fluctuations in China's coal imports.  Imports have spiked due to politics-inflected resumptions of imports from Indonesia and Australia, as well as because of moves to ...

Flush with petroleum, Angola is one of the world’s largest oil producers yet still starved for energy. The problem is that the country lacks sufficient refining capacity, forcing it, like other African oil-exporting countries, to import most of its petroleum products. ...

Even as Uganda is seeking $1.8 billion for the East African Crude Oil Pipeline (EACOP), some Ugandan environmentalists are expressing displeasure with China’s involvement with the project. Their frustration stems from reports that China will finance the project. This ...

The China Exim Bank will reportedly come to the rescue of the East African Crude Oil Pipeline after Standard Chartered Bank withdrew from the project that aims to transport oil from western Uganda to the coast of Tanzania. Ugandan Energy Minister Ruth ...

Climate security campaigner 350.org is pleading with financiers to withhold support of the construction of the 1,443km East Africa Crude Oil Pipeline (EACOP) which cuts across Tanzania and Uganda. On Thursday, the New York-based organization accused France's TotalEnergies of profiteering from ...

The Nigerian government will pick up the tab to build the last portion of the 614-kilometer AKK natural gas pipeline that China had originally agreed to finance. In 2017, the Bank of China negotiated a deal to fund the $2.5 billion project ...

French energy giant TotalEnergies concluded a deal with China Petroleum Pipeline Engineering and East Africa Oil Pipeline operator EACOP to build the environmentally controversial pipeline in East Africa. The Chinese company will replace a Russian pipe supplier to provide some of ...

It wasn't that long ago when China sourced a third of its imported oil from three African suppliers that included Angola. Today that figure is down to just 10% and appears to be steadily declining as Chinese buyers shift to sourcing crude from Russia, Persian Gulf countries ...

Two-way trade between China and Iran increased by 7% last year to $15.8 billion, according to new data by Chinese customs authorities. Iranian exports to China accounted for $6.35 billion, while imports from China totaled $9.4 billion.

Singaporean Prime Minister Lee Hsien Loong embarked on a week-long trip to China on Monday that will include meetings with both President Xi Jinping and Premier Li Qiang. The visit marks the Singaporean leader's first visit to China since the COVID-19 pandemic. (STRAITS TIMES)

Russia overtook Saudi Arabia in the first two months of the year as China's largest oil supplier, with purchases surging 24% compared to the same time last year, according to new Chinese customs data. Chinese buyers were seemingly keen to take ...