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2018-03-28 11:05:00

SAUDIS OIL FOR CHINA: +20%

SAUDIS OIL FOR CHINA: +20%

PLATTS - China's crude oil imports from Saudi Arabia in February rose 19.5% month on month to 1.21 million b/d, or 4.64 million mt, making it the second-largest supplier, data released by the General Administration of Customs on Tuesday showed.

Its imports of Saudi crude were the lowest in five months in January.

The steep month-on-month rise in barrels per day is because of February being a shorter month with 28 days.

Russia remained China's top crude supplier in the month with 1.32 million b/d, despite a 1.3% fall in imports from the country month on month.

China's overall crude oil imports declined 12.1% month on month, but rose 1.5% from a year ago to 8.45 million b/d in February.

Over the first two months of the year, the country's crude imports gained 10.8% on the year to 9.06 million b/d amid high imports from Russia, Brazil, Kuwait and the US.

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Earlier:

S-E.Asia
2018, March, 26, 07:45:00

SINOPEC INVESTMENT WILL UP

REUTERS - In a statement to the Shanghai Stock Exchange, Sinopec said it had allocated 117 billion yuan of capital expenditure for 2018, up from an actual spend of 99.38 billion yuan last year. That includes a 55 percent hike in upstream spending to 48.5 billion yuan, as China’s biggest refiner looks to make the most of a rally in oil prices since early February to over $70 a barrel.

 
 S-E.Asia
2018, March, 14, 11:20:00

CHINA'S OIL PRODUCTION DOWN

REUTERS - The country churned out 30.37 million tonnes of crude in the first two months of the year, according to data from he National Bureau of Statistics, equivalent to 3.76 million barrels per day (bpd) and on a par with the weakest level in data stretching back to June, 2011.

 

 S-E.Asia
2018, March, 5, 11:25:00

SOUTH CHINA SEA OIL

REUTERS - Any deal between the Philippines and a Chinese firm to jointly explore for gas in the Reed Bank of the South China Sea will be illegal unless China recognizes the southeast Asian nation’s sovereign rights there, a Philippine judge said on Monday.

 

 S-E.Asia
2018, February, 27, 13:50:00

U.S. - CHINA OIL RECORD

PLATTS - China's crude oil imports from the US hit a new record high at 2.01 million mt or 474,450 b/d in January, General Administration of Customs data showed Monday.

 

 S-E.Asia
2018, February, 7, 08:10:00

CHINA: THE WORLD'S LARGEST

EIA - China surpassed the United States in annual gross crude oil imports in 2017, importing 8.4 million barrels per day (b/d) compared with 7.9 million b/d for the United States. China had become the world’s largest net importer (imports minus exports) of total petroleum and other liquid fuels in 2013. New refinery capacity and strategic inventory stockpiling combined with declining domestic oil production were the major factors contributing to the recent increase in China’s crude oil imports.

 

 S-E.Asia
2018, February, 7, 08:05:00

RUSSIAN OIL TO CHINA UP

PLATTS - "We estimate that Russian crude inflows to China will likely grow by at least 11% in 2018. There will also be additional availability in the seaborne market, as PetroChina will take almost all its barrels through the doubled capacity pipelines," said Wang Zhuwei, senior analyst with S&P Global Platts China Oil Analytics.

 

 S-E.Asia
2018, February, 2, 12:15:00

CHINA'S OIL INVESTMENT UP

BLOOMBERG - The Beijing-based explorer sees capital expenditures at 70 billion to 80 billion yuan ($11.1 billion to $12.7 billion) for 2018, it said in a statement to the Hong Kong stock exchange Thursday. That’s an increase of as much as 60 percent from the previous year, which came in under target. It also raised its production estimate to between 470 million and 480 million barrels of oil equivalent, poised for the the first increase in three years.

 

 

Tags: SAUDI, OIL, CHINA

Chronicle:

SAUDIS OIL FOR CHINA: +20%
2018, December, 17, 10:15:00

QATAR'S LNG FOR PAKISTAN

TP - With fast growing demand and expanding gas receiving capacity in Pakistan, the South Asian nation is expected to source more liquefied natural gas (LNG) from Qatar, said the country’s visiting Finance Minister Asad Umar.

SAUDIS OIL FOR CHINA: +20%
2018, December, 17, 10:10:00

QATAR'S INVESTMENT FOR U.S.: $20 BLN

REUTERS - Qatar Petroleum (QP) is looking to invest at least $20 billion in the United States over the coming few years, its chief executive told Reuters, after the Gulf Arab state unexpectedly quit OPEC this month.

SAUDIS OIL FOR CHINA: +20%
2018, December, 17, 10:05:00

U.S. INDUSTRIAL PRODUCTION UP 0.6%

U.S. FRB - U.S. industrial production rose 0.6 percent in November after moving down 0.2 percent in October; the index for October was previously reported to have edged up 0.1 percent. In November, manufacturing production was unchanged, the output of mining increased 1.7 percent, and the index for utilities gained 3.3 percent.

SAUDIS OIL FOR CHINA: +20%
2018, December, 17, 10:00:00

U.S. RIGS DOWN 4 TO 1,071

BHGE - U.S. Rig Count is down 4 rigs from last week to 1,071, with oil rigs down 4 to 873 and gas rigs unchanged at 198. Canada Rig Count is down 12 rigs from last week to 174, with oil rigs down 7 to 95 and gas rigs down 5 to 79.

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