China Reshaping Market To Become The World’s Fastest-growing Major Marine Fuel Hub

China is reshaping global shipping fuel markets by taking advantage of its booming maritime trade, says an article published in Reuters.

Reshaping global shipping fuel markets

China is reshaping global shipping fuel markets by taking advantage of its booming maritime trade and massive refining capacity to undercut rivals from Singapore to South Korea and become the world’s fastest-growing major marine fuel hub.

China’s marine fuels output surge

China’s rising influence in marine fuels, globally...

https://mfame.guru/china-reshaping-market-to-become-the-worlds-fastest-growing-major-marine-fuel-hub/

Sinopec’s First ‘Offshore Mobile Bunkering’ Station Sets Sail

Sinopec’s first “offshore mobile bunkering station”, bunkering vessel “Run Ji 1”, sets sails, reports Xinde Marine News.

Mobile bunkering station

Sinopec’s first “offshore mobile bunkering station”, bunkering vessel “Run Ji 1”, was put into operation on June 11.

It will provide low-sulfur heavy clean marine bunker oil and integrated ship services to international sailing ships.

Sinopec Fuel Oil supplies more than 10,000 ocean-going ships every year, and has the ability to supply all kinds of...

https://mfame.guru/sinopecs-first-offshore-mobile-bunkering-station-sets-sail/

CNOOC Buys LNG Cargoes As Demand Rebounds

China’s offshore oil and gas major CNOOC Ltd 0883.HK has bought more than 10 liquefied natural gas (LNG) cargoes for delivery between July and next March, reports Nasdaq.

China’s economy rebound

The state-owned firm’s purchase is on the back of higher spot LNG prices LNG-AS, which have doubled since early March, as China’s gas demand grows with rebounding economic growth.

CNOOC bought 12 to 15 cargoes, which is higher than the 10 cargoes it initially sought for the period, two of the sources said.

P...

https://mfame.guru/cnooc-buys-lng-cargoes-as-demand-rebounds/

Sinopec To Boost Very Low Sulphur Fuel Oil (VLSFO) Production

Sinopec ups VLSFO production to capture Chinese bonded bunker market share says an article on Manifold.

To boost very low sulfur fuel oil (VLSFO) production

China Petroleum & Chemical Corporation (Sinopec) has started a program to encourage local subsidiary refineries to boost very low sulfur fuel oil (VLSFO) production.

It noted Sinopec offering its refineries a reward of 150 yuan ($23.35) for every tonne of VLSFO produced.

The development is seen as an effort to capture increased market share of...

https://mfame.guru/sinopec-to-boost-very-low-sulphur-fuel-oil-vlsfo-production/

Sinopec Plans To Import 17 Mil mt of LNG

Sinopec plans to import 17.4 million mt of LNG in 2021 and produce 34 Bcm of natural gas, says an article on SP Global.

Efforts to meet domestic demand

They plan to import 17.4 million mt of LNG in 2021 and produce 34 Bcm of natural gas including about 12 Bcm of shale gas, in an effort to meet domestic demand, while lowering carbon emissions, senior officials said during the company’s Q1 conference call on April 29.

“The Chinese state-owned oil and gas giant imported 5.2 million mt of LNG in the...

https://mfame.guru/sinopec-plans-to-import-17-mil-mt-of-lng/

Qatar Petroleum Contracts With Sinopec For LNG Supply

According to an article published in AA Energy, Qatar Petroleum has inked a 10-year LNG Sale and Purchase Agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec) for the supply of 2 million tons per annum of LNG to China, the company announced on Monday.

Contract Ceremony

The Minister of State for Energy Affairs and President and CEO of Qatar Petroleum, Saad Sherida Al-Kaabi, and Zhang Yuzhuo, the chairman of the Sinopec Group, signed the contract during a virtual ceremony attended...

https://mfame.guru/qatar-petroleum-contracts-with-sinopec-for-lng-supply/

CNPC Made New Oil Discovery in Northeastern Upper Nile State

A consortium led by China’s state-run CNPC has made a new oil discovery in South Sudan’s northeastern Upper Nile state with more than 300 million barrels of recoverable oil, the country’s oil minister Awow Daniel Chuang said Tuesday, reports  NeighborWebSJ.

Awow Daniel Chuang Comments

An exploration well near the Adar oilfield in Block 3 in the Melut Basin near the border with Ethiopia and Sudan penetrated reservoir quality Miocene sandstones after drilling to a total depth of 1,320 meters,...

https://mfame.guru/cnpc-made-new-oil-discovery-in-northeastern-upper-nile-state/

Sinopec Delivers Wholesale Bunker Fuels to Hambantota

Chinese state energy company Sinopec has begun making wholesale deliveries ot bunker
fuel to Sri Lanka to supply the Hambantota market, says an article published in Ship & Bunker.

Sinpec’s first buyer

Local supplier Lanka Marine Services (LMS) was Sinopec’s first buyer, Hambantota
International Port (HIP) said in a statement.

“LMS supplied IMO 2020 compliant Very Low Sulphur fuel oil (VLSFO) to their client, crude oil tanker m.v. Suez Hans, which was on route to the Suez from Chennai,” HIP said.

“Th...

https://mfame.guru/sinopec-delivers-wholesale-bunker-fuels-to-hambantota/

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/

BP Sinopec Joint Venture Extends To Fujairah Bunker Market

  • The BP and Sinopec marine fuel bunkering joint venture will start deliveries of high sulfur and low sulfur fuel oils to Fujairah next month.
  • Sinopec started producing LSFO for bonded bunkering in January with a target production capacity of 10 million mt in 2020.
  • Fujairah produces its own fuel oils, with three refineries located at or near the port.

The bunkering joint venture launched by BP and Sinopec five years ago is set to join the Fujairah market, according to price reporting agency S&P...

https://mfame.guru/bp-sinopec-joint-venture-extends-to-fujairah-bunker-market/

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