PetroChina

China halts fuel exports as domestic stocks hit lows

Chinese refiners have stopped exporting oil products to anywhere outside Hong Kong and Macau until Beijing says otherwise, Reuters reported on Thursday, October 1, citing four people familiar with the matter. The move takes supply away from a global fuel…

Asian refiners drive Dubai crude near $100 amid Middle East supply squeeze

The energy security architecture that Beijing has built since 2018 around its three state oil giants — Sinopec China Petroleum & Chemical Corporation, PetroChina, and CNOOC — is facing its most demanding test yet. With crude prices surging past $100…

China seeks decade-long LNG deals to cut Qatar reliance

As the Strait of Hormuz remains largely closed to commercial traffic amid the ongoing US-Iran conflict, countries across Asia and the Middle East are accelerating efforts to secure alternative energy supply routes, reshaping global trade patterns that have been in…

PetroChina, Sinopec weigh resuming Iran oil buys after U.S. waiver

China's major state-owned refiners are considering restarting purchases of Iranian crude oil for the first time since 2019, following a sweeping U.S. sanctions waiver issued this week, according to Reuters.

PetroChina forecasts nearly 5% drop in China’s oil use

Chinese refineries processed crude at their lowest rate in four years in May as the world's largest oil importer continued to pull back from global markets amid the Middle East supply shock, while PetroChina forecast a nearly 5% drop in…