Russian plans to increase natural gas exports to China by almost 50 percent this year, Deputy Prime Minister Alexander Novak has said.
Chinese authorities are expected to give much lower fuel export allowances to refiners in the second batch of quotas in the coming weeks amid rising domestic demand, a Reuters survey of state refiners and consultancies showed on Thursday.
Given its geographical positioning, with Saudi Arabia on one side of it and Iran on the other, Qatar has long played a delicate diplomatic balancing act between the two great Middle Eastern powers and their principal superpower sponsors.
Oil prices surged on Monday, jolted by a surprise announcement by OPEC+ to cut production further in what top producer Saudi Arabia called a precautionary measure to support market stability.
Chinese imports of crude oil surged by 22.5% year-over-year in March to the highest monthly volumes in nearly three years, since June 2020, official data showed on Thursday as refiners are increasing fuel output to meet expected rising demand after the reopening.
Oil markets have rallied since OPEC+ announced that it will reduce its output further, by some 1.66 million barrels per day, bringing the cartel’s total output reduction to 3.66 million barrels daily, or 3.7% of global oil demand.
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude stockpiles.
China is building or planning to build some 366 GW in new coal generation capacity, accounting for some 68% of global planned new coal capacity as of 2022. This is according to a new report by climate think tank Global Energy Monitor, which also found that China accounted for more than half of the new global coal […]
Saudi Aramco plans to build a $10-billion refining and petrochemical complex in China over the next three years, taking advantage of the country’s growing demand for energy.
China exported 4.54 million tons of diesel in the first two months of the year, up 10 times from last year’s export rate, which stood at 420,000 tons, government data cited by Bloomberg showed.