World non-renewable energy discussion

Please, Log in or Register to view URLs content!

Saudi Aramco is in negotiations with the Chinese firm Jiangsu Eastern Shenghong to buy a 10% stake in its subsidiary Jiangsu Shenghong Petrochemical Industry Group. Shenghong Petrochemical operates an integrated refinery and petrochemical complex, a methanol-to-olefins complex, and a purified terephthalic acid plant in China. Aramco intends to supply Shenghong Petrochemical with crude oil and other feedstocks. In July, Aramco purchased a 10% stake in a larger Chinese petrochemical firm, Rongsheng Petrochemical, for $3.4 billion.

Click to expand...

Government wants to speed up expansion of train to Vaca Muerta, helping to increase oil and natural gas production and exports

Click to expand...

From January to September, Russia supplied 1.3 million bpd of seaborne crude, based on the average of data supplied by Vortexa and Kpler. China also imported about 800,000 bpd of ESPO crude via pipeline, according to Chinese trading sources.

The seaborne imports are mainly ESPO shipped from Russia's Pacific port of Kozmino as well as Urals from the Baltic Sea.

From January to September, total Russian shipments grew by over 400,000 bpd from a year earlier, led by Urals, according to Vortexa, as sanctions triggered by Moscow's invasion of Ukraine sparked a massive diversion of its oil flows from Europe to

Please, Log in or Register to view URLs content!

.

China has this year saved $4.34 billion by importing Russian oil, based on Reuters' comparison of the monthly price differentials between ESPO and Tupi crude from Brazil, and Urals versus Oman, using price information provided by traders.

For imports of Venezuelan oil, mostly heavy grade Merey, China saved an average of $10 a barrel versus comparable Colombian Castilla crude, the calculations based on the trader data showed. The country saved roughly $15 a barrel buying Iranian crude versus Oman oil.

China has saved roughly $4.2 billion by importing a record 1 million bpd during the same period from Iran, 60% above pre-sanction peaks recorded by Chinese customs in 2017 at 623,000 bpd, as Tehran raised output to near-maximum levels and offered discounts as steep as $17 a barrel versus Brent.

Click to expand...

luminary said:

Please, Log in or Register to view URLs content!

Please, Log in or Register to view URLs content!

Click to expand...

Aramco, Nanshan Group, Shandong Energy Group, and Shandong Yulong Petrochemical have signed a Memorandum of Understanding to facilitate discussions relating to the possible acquisition by Aramco of a 10% strategic equity interest in Shandong Yulong Petrochemical.

Shandong Yulong is currently in the process of completing the construction of a refining and petrochemicals complex that is designed to process around 400,000 barrels per day of crude oil and produce a large volume of petrochemicals and derivatives. The facilities are located at Longkou, Yantai in Shandong.

Click to expand...

tphuang said:

reposting what I put on SCO thread

https://twitter.com/i/web/status/1717908925595406777

just unbelievable how much oil they are importing from Iran at the moment. This is over 1.8m bpd in October or 55m for the month
significantly more than what they import from Saudis.

So this is about a total of 5.5m bpd from the russia, saudi & iran. Another maybe 1m bpd from Venezuela. Probably some from Central Asia.

Please, Log in or Register to view URLs content!

interesting that China is also trying to slow down growth of teapot refineries.

Click to expand...

TK3600 said:

I have suspicion there are political interests involved, much like mass purchase of Russian gas that was not cheapest. I suspect China want Iran to tie down US much like Russian does in Ukraine.

Click to expand...