China | GUPC

Trump Hints at Additional Tariffs on China Over Russian Oil Imports

Oil & Gas‚ Oil and Gas Industry | intent | August 7, 2025 | Comment off

In a later statement, India’s foreign ministry said that oil import decisions were “based on market factors and done with the overall objective of ensuring the energy security of 1.4bn people of India”. A spokesperson for the ministry said that “It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest. We reiterate that these actions are unfair, unjustified and unreasonable.”

China’s Coal Imports Plunge 23% as Domestic Output Surges

Oil & Gas‚ Oil and Gas Industry | intent | August 7, 2025 | Comment off

Chinese coal purchases for the first half of 2025 were down by 11% from a year ago, to 221.7 million tons. Imports for the full year are set to be between 50 million tons and 100 million tons lower compared to 2024, the local industry association, China Coal Transportation and Distribution Association, said last month. Factors affecting imports include the real estate sector crisis, weaker industrial growth, and the increase in domestic production.

The Rise of Private Chinese Oil Companies in Iraq

Oil & Gas‚ Oil and Gas Industry | intent | August 4, 2025 | Comment off

The Chinese companies are replacing Western oil and gas majors who left Iraq in search of greener pastures. CNPC took over the West Qurna 1 field last year and plans to boost its capacity to 1.2 million barrels daily by 2035. West Qurna 1 is one of the largest oil fields in the world, with reserves estimated at more than 20 billion barrels of recoverable hydrocarbons. Currently, it produces around 550,000 barrels daily.

China Squeezes Critical Mineral Supply to U.S. Defense Industry

Oil & Gas‚ Oil and Gas Industry | intent | August 4, 2025 | Comment off

The supply restrictions have meanwhile inflated the prices of the critical minerals, the report also said. According to defense industry traders, some of these now cost five times as much as they used to, and in at least one case, a critical mineral cost 60 times as much as it used to before Beijing started to restrict supply.

CNOOC Achieves New Gas Startup in South China Sea

Oil & Gas‚ Oil and Gas Industry | intent | August 1, 2025 | Comment off

“CNOOC Ltd. has adopted an innovative combined development approach of ‘conventional water injection + steam huff and puff + steam flooding’, providing strong technical support for the efficient utilization of oil reserves”, it added. “The project’s platform integrates both conventional cold production and thermal recovery systems, and is equipped with over 240 sets of key equipment.

U.S. Energy Exports to China at Zero Ahead of Trade Talks

Oil & Gas‚ Oil and Gas Industry | intent | July 24, 2025 | Comment off

This is taking place ahead of the next round of trade talks between the two countries, to take place in Sweden next week. U.S. Treasury Secretary described current relations as being “in a good place.” Chinese officials, for their part, have signaled a readiness on the part of the country’s government to reach a mutually beneficial deal. An official statement said that the Chinese side hoped for an atmosphere of “mutual respect, peaceful coexistence and win-win cooperation,” at the talks.

China Refuses to Buy Expensive LNG Despite Peak Demand

Oil & Gas‚ Oil and Gas Industry | intent | July 8, 2025 | Comment off

China’s LNG imports have been trending lower since early this year, with purchases of U.S. LNG suspended entirely amid the tariff spat that President Trump initiated as a means of fixing the United States’ trade deficit with most trade partners. Besides that, a milder winter, weak industrial demand, and higher gas pipeline imports are set to result in the first decline in China’s LNG imports since 2022, according to analysts.

China’s LNG Imports Continue Eight-Month Decline

Oil & Gas‚ Oil and Gas Industry | intent | June 27, 2025 | Comment off

LNG imports into China, the world’s top buyer of the super-chilled fuel, continue to be weaker than the prior-year month for the eighth consecutive month in June, according to ship-tracking data from Kpler cited by Bloomberg.
China is on track to import about 5 million tons of LNG this month, per Kpler’s data. This volume, if confirmed, would be a 12% decline compared to June last year.

Trump U-Turns on China Buying Iranian Oil

Oil & Gas‚ Oil and Gas Industry | intent | June 25, 2025 | Comment off

While China hasn’t officially purchased Iranian barrels since June 2022, third-party data providers and traders signal flows have been resilient despite broad US sanctions. That’s because the Chinese have built a supply chain outside of western control, which includes dark fleet ships and yuan-denominated payments, supporting imports of more than 1 million barrels a day.

Iran-Israel War Prompts China to Reconsider Russia’s Gas Pipeline Proposal

Oil & Gas‚ Oil and Gas Industry | intent | June 25, 2025 | Comment off

Now, these concerns appear to have taken the back seat in the face of a fresh dose of Middle Eastern instability and energy supply uncertainty—especially in gas. Almost a third of China’s gas imports come as LNG from Qatar and the United Arab Emirates, the WSJ noted in its report, citing Rystad Energy figures. Russia, in turn, is China’s third-largest supplier of LNG, after Australia and Qatar. But it is China’s biggest pipeline supplier, via the Power of Siberia 1, with flows this year set to reach 38 billion cu m, according to S&P Global.

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