TVEL, the nuclear fuel manufacturer subsidiary of Russia's Rosatom, has signed a supply contract for units 7 and 8 of the Tianwan nuclear power plant in China's Jiangsu province. The customers are Suneng Nuclear Power Corporation and China Nuclear Energy Industry Corporation, which are both subsidiaries of China National Nuclear Corporation (CNNC).

The signing of the agreements seek to further advance strategic ties between the UAE and China, opening up new partnership horizons across various fields

A total of 6.43 million mt were exported from Gladstone, up 2% year on year and 8% month on month, and the highest monthly volume since the 6.45 million mt seen in January, GPC figures showed.

June oil imports from Russia to China were up 31.7% on month from 1.76 million mt in May, hitting a five-month high, and also 124% higher from a year earlier.

China has lifted restrictions on foreign investment in its conventional oil and gas upstream and city gas distribution sectors, in an attempt to boost resource development, and setting the stage to break the monopoly of national oil companies.

Tariffs, imposed by the US under Section 301 of the Trade Act of 1974, as well as retaliatory tariffs imposed by China on US imports, have already harmed the US oil and gas industry, according to testimony Padilla recently gave to the US Trade Representative's Section 301 committee

The re-opening of trade negotiations between the US and China also opens the door for the easing of trade tensions and potential removal of tariffs on a range of commodities including LNG, LPG, soybeans, metals and petrochemicals.

“Imposing tariffs on the remainder of U.S. imports from China will put undue strain on the supply chains of the natural gas and oil industry that enable the delivery of reliable and affordable energy to American families and businesses,” said Dr. Aaron Padilla, API’s Senior Advisor for International Policy.

China imported 1.08 million mt, or 255,065 b/d, of crude oil from Iran in May, down 66.7% from the five-year high of 3.24 million mt in April as the US' sanction waivers for Iranian oil expired on May 2.

Imports from Russia came in at 6.36 million tonnes in May, or 1.50 million barrels per day (bpd), data from the General Administration of Customs showed on Tuesday.