BEIJING, June 8 (Xinhua)-- China's crude oil import unit price hit a record high in May as global crude oil prices continued to rise, official data showed Wednesday. China spent 60.76 billion yuan (9.26 billion U.S.dollars) on importing 32.24 million tonnes of crude oil in May with the...
Crude oil importOil marketReform and developmentOrderly releaseCapacity resolvingCrude oil imports in China are mainly carried out by state-owned entities with non state-owned entities as compliment. Crude imported by 5 state-owned entities accounts for 90% of the total imports, while non state-own...
BEIJING, May 23 (Xinhua) -- China's Ministry of Commerce on Wednesday published the names of 11 private refineries with a plan to allow them to directly import crude oil. The ministry said it has examined the firms' applications and found them in accordance with requirements. The refineries ...
chinascrudeoilimportsrisessteadily MARKETPOTENTIALChina'sudeOnchineseimportsofcrudeoilrose10.8percentyear-on.yearoverthefirstfourmonthsofthisyear,duetothecountry’sgrowingneedforresourcestofuelitsrapidlydevelopingeconomy,theGeneralAdministrationofCustomsfGAC1announcedinmid-May.Crudeoilimportsiumpedto54.46milliontonsbetwe...
(Reuters) - China is continuing to import more crude oil than it needs as weak refinery processing rates, soft domestic demand and constrained exports of refined fuels combine to boost the building of stockpiles. China, the world's biggest crude importer, added about 2 MMbpd to oil inven...
China has issued more non-state crude oil import quotas to refiners, for a total of 26.84 million tonnes (195.93 million barrels) in its third batch for 2020, three sources familiar with the matter told Reuters on Thursday. A total of 17 companies are receiving the quotas, they said. ...
China Petroleum & Chemical Corp, China's largest oil refiner, is expected to import 10 million metric tonnes of crude oil from the United States this year, said the company, also known as Sinopec. February27,2018 Crude oil futures to boost China's pricing power, cautiously ...
China More Dependent on Crude Oil Import than US
Vessel-tracking and port data compiled by Refinitiv indicates China will import 867,300 bbl/d of U.S. crude oil in September, exceeding 653,870 bbl/d in August and 693,500 bbl/d in July.
This year, total refinery capacity expansions in China are expected to reach just over 700,000 b/d, according to estimates by Nomura Research. In addition, the government is expected to award more crude oil import quotas to larger independent teapot refiners ...