Chinese Yanchang may double oil purchases from Russia – Kommersant
[ad_1]
The Chinese state-owned Shaanxi Yanchang Petroleum Group plans to double its purchases of Russian oil to about 1 million tons in 2023, Reuters reported, citing sources. According to them, in August the company will launch an oil refining unit with a capacity of 50 thousand barrels per day, which will increase the throughput of the plant.
According to the interlocutors of the agency, the Yanchang plant purchased three cargoes from the East Siberia-Pacific Ocean oil pipeline for deliveries to the port of Qingdao in August and September. The total volume of purchases by the refiner this year is estimated at 600-700 thousand tons, or 4.4-5.1 million barrels. According to an unnamed trader, Yanchang also has oil purchase quotas that need to be used before the end of the year.
A spokesman for the Yanchang refinery confirmed that the refinery is likely to process more imported oil this year. Where the raw materials will come from, he did not specify.
According to Deputy Prime Minister Alexander Novak, Russia redirected to Asia about 20% of the oil previously supplied to European countries. Against the background of the embargo imposed by the West on Russian oil and the price ceiling, India and China began to buy it. At the end of May, Prime Minister Mikhail Mishustin declaredthat Russia ranks first in oil supplies to China.
About the situation on the market – in the material “Kommersant” “Oil passed by the ruble”.
[ad_2]
Source link
