US EditionControversial B.C. Chemical Seller Embroiled in Lawsuits Two Years After U.S. Sanctions
Chinese refiners cut nearly 45% of Russian oil imports due to US sanctions targeting major Russian producers and trading partners, leading to lower demand and prices for ESPO crude.
- On November 3, Chinese oil refiners scaled back Russian crude purchases after U.S. sanctions on Rosneft and Lukoil, affecting roughly 400,000 barrels per day, about 45% of imports.
- China's independent refiners face limited import quotas and higher taxes, while teapot refiners paused imports after Shandong Yulong Petrochemical was blacklisted by Britain and the EU, as U.S. sanctions aim to choke off funding for Russia's war in Ukraine.
- Sanctions disrupted flows to Turkey and led several Indian refiners to suspend imports, while Indian Oil Corp resumed buying Urals crude from untargeted suppliers.
- For China, the shift could redirect China's crude demand toward suppliers like the United States, while Tupras halted Russian barrels to preserve European market access.
- Despite sanctions, some refiners under restrictions, including Shandong Yulong Petrochemical, have increased Russian crude intake as Western suppliers cut ties, showing global oil flows reshuffling is far from complete.
12 Articles
12 Articles
Chinese Refiners Retreat From Russian Oil After U.S. Sanctions
Chinese oil refiners are cutting back on purchases of Russian crude after Washington and its allies expanded sanctions against Moscow’s top energy producers and some of their customers. State-owned companies, including Sinopec and PetroChina, have reportedly canceled Russian cargoes in response to US sanctions imposed last month on Rosneft and Lukoil, traders said. Smaller independent refiners, known as “teapots,” are also holding off amid fears…
Chinese refiners, including Sinopec and PetroChina, are rejecting Russian oil due to US sanctions. The decision affects 400,000 barrels per day, jeopardizing Russian-Chinese energy cooperation.
According to new reports, Russia's oil exports to China and Turkey are breaking massively after US sanctions. At the same time, China is tricking out sanctions at LNG.
China Pulls Back From Russian Oil as US Sanctions Hit Rosneft, Lukoil
Chinese refiners are cutting back on Russian crude purchases after Washington and its allies expanded sanctions to include Moscow’s largest oil producers and some of their trading partners, Bloomberg reported on November 3. State-owned energy firms Sinopec and PetroChina have canceled several Russian cargoes following US sanctions on Rosneft and Lukoil last month, traders told Bloomberg. Smaller private refiners, known as “teapots,” are also pau…
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