Chinese State-owned Companies Suspended Purchases Of Russian Oil

Following India.

China's state-owned oil companies have suspended oil purchases from Russia because of U.S. sanctions that have hit Rosneft and Lukoil.

As Reuters citing industry sources, RetroChina, Sinopec, CNOOC and Zhenhua Oil have decided to refrain from new deals with Russian barrels at least in the short term.

This will affect up to a third of Russia's oil exports to China by sea: state-owned companies buy between 250,000 and 500,000 bpd from Russia, according to estimates by Vortexa and Energy Aspects. In total, tankers export 1.4 million barrels per day of Russian origin to China. The bulk of these supplies, however, go to independent private refineries. They are likely to put imports from Russia on pause, but will seek to resume it, sources told Reuters.

It became known earlier that oil from Russia is being rejected by India's largest refineries. Because of the sanctions, they plan to reduce imports to Russia to almost zero.

You can support the website Charter97.org

MULTI-CURRENCY ACCOUNT FOR ASSISTANCE:

Bank's name: Bank Millennium S.A.
Address: ul. Stanislawa Zaryna, 2A, 02-593, Warszawa
IBAN: PL97116022020000000216711123
SWIFT: BIGBPLPW
Name of the account holder: Fundacja “KARTA ‘97”
Purpose/title of payment: Donation for statuary aims

You can contact us by the e-mail [email protected]