PetroChina

Crude Oil Refinery Market in China & Japan at Stark Contrast

  • China’s crude throughput fell slightly in December due to some maintenance works toward the year-end.
  • The average run rate of the four state-owned oil majors, Sinopec, PetroChina, CNOOC and Sinochem, stood at around 78% to date in December, from an 80% average in November.
  • The reduction comes despite a rise in gasoline and gasoil sales since mid-November, as refineries try to clear product inventories ahead of year-end book closures, refiners.
  • PetroChina’s average utilization rate fell to 69%...

https://mfame.guru/crude-oil-refinery-market-in-china-and-japan-at-stark-contrast/

29.5mn t of Quotas In The First Batch of Oil Products Export

The Chinese government has issued its first batch of oil products export quotas for 2021, to six state-controlled firms — PetroChina, Sinopec, CNOOC, Sinochem, CNAF and Norinco’s 120,000 b/d Huajin refinery, as well as private-sector Rongsheng’s 800,000 b/d ZPC refinery, says an article published in argusmedia.

The government awarded 29.5mn t of quotas in the latest batch, up by 1.51mn t or 5pc from the first batch in 2020. A breakdown by gasoline, diesel and jet fuel has not been announced.

Year-...

https://mfame.guru/29-5mn-t-of-quotas-in-the-first-batch-of-oil-products-export/

Shanghai INE Considers Singapore for LSFO Futures Overseas Delivery

The Shanghai International Energy Exchange (INE) on Thursday (26 November) signed an agreement with Petro China International Co Ltd for the overseas delivery for its low Sulphur fuel oil (LSFO) futures contract, reportes Reuters.

About the Partnership

“The partnership is a consensus on a first overseas delivery for the bunker fuel as an important foundation towards China’s futures delivery going global”, said the INE.

This would be the first time a Chinese futures contract would be deliverable...

https://mfame.guru/shanghai-ine-considers-singapore-for-lsfo-futures-overseas-delivery/

INE Signs Delivery Deal With PetroChina for Oil Futures

  • China’s Shanghai INE had signed an agreement with PetroChina to cooperate on the overseas delivery for its LSFO futures contract ILUF1.
  • Both parties have reached a consensus on cross-border overseas delivery for the marine oil.
  • This would be the first time a Chinese futures contract would be deliverable outside of China, which could boost the liquidity and increase the pricing influence.

The Shanghai International Energy Exchange (INE) has signed an agreement with PetroChina International for...

https://mfame.guru/ine-signs-delivery-deal-with-petrochina-for-oil-futures/

China’s INE Mulls Singapore Port for Marine Fuel Futures Delivery

  • The Shanghai INE is considering taking Singapore as a delivery point for its low sulfur marine fuel futures contract.
  • The move would be the first time a Chinese futures contract would be deliverable outside of China and could boost liquidity for the contract.

The Shanghai International Energy Exchange (INE) is considering using oil storage sites in Singapore owned by PetroChina Co as a delivery point for its low-sulphur fuel oil futures contract, reports Reuters.

Delivery point for LSFO

The move...

https://mfame.guru/chinas-ine-mulls-singapore-port-for-marine-fuel-futures-delivery/

KNOT Bags Long-Term Suezmax Charter

  • Knutsen NYK Offshore Tankers (KNOT), a joint venture between NYK and Knutsen, has concluded a 10-year time charter contract with PetroChina for a shuttle tanker.
  • The suezmax tanker is currently being built at Cosco Zhoushan Shipyard, and it will be used to shuttle crude oil produced off Brazil from 2022.

Knutsen NYK Offshore Tankers AS (KNOT) has concluded a first long-term time charter contract for a shuttle tanker with PetroChina International, reports Splash247 .

As informed, the contract is...

https://mfame.guru/knot-bags-long-term-suezmax-charter/

Chinese Firm Offers Force Majeure on Gas Imports! Threat To US LNG?

  • US LNG might face minimal threat from PetroChina force majeure on gas imports.
  • Declaration to put further pressure on an already depressed market due to weaker than expected demand and low international prices.
  • Cheniere Energy Inc. has two long-term contracts with PetroChina for a combined 1.2 million tonnes per annum of LNG. 
  • Cheniere’s contracts are typically robust and able to accommodate flexibility.
  • The biggest U.S. LNG exporter said that it was notified of cancellations of two loadings...

http://mfame.guru/chinese-firm-offers-force-majeure-on-gas-imports-threat-to-us-lng/

Κίνα: Αναστολή στις εισαγωγές φυσικού αερίου

Η PetroChina ανέστειλε ορισμένες εισαγωγές φυσικού αερίου, συμπεριλαμβανομένου ενός αριθμού φορτίων υγροποιημένου φυσικού αερίου (LNG), καθώς η πτώση της ζήτησης και της κατανάλωσης, πέραν της εποχικότητας, επιτείνεται και από την επιδημία του κορονοϊού, σύμφωνα με άρθρο που δημοσιεύεται στο πρακτορείο Reuters.

Η εταιρεία ενημέρωσε τους προμηθευτές αγωγών φυσικού αερίου καθώς και τουλάχιστον έναν προμηθευτή LNG για την απόφασή της για λόγους «ανωτέρας βίας», αν και οι λεπτομέρειες της...

https://www.naftikachronika.gr/2020/03/07/kina-anastoli-stis-eisagoges-fysikou-aeriou/

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