79308
New Pipeline Doubles Russian Oil Supply to China
Energy

New Pipeline Doubles Russian Oil Supply to China

An extension of the East Siberia-Pacific Ocean oil pipeline between Russia and China started operating on Jan. 1, doubling the export volumes from 15 to 30 million tons annually, or almost 220 million barrels.
According to China’s state news agency Xinhua, the extension, agreed in 2013, would serve China’s Belt and Road initiative for expanding China’s regional influence in Asia, Oil Price reported.
At the same time, it will increase Russia’s market share in the world’s top consumer as China last year gobbled up more crude than the United States for the first time, posting record import figures as well, despite a much-publicized drive away from fossil fuels.
The pipeline, which initially ran from the East Siberian town of Skovorodino to Mohe, a town on the Russian-Chinese border, was extended into China, to the city of Daqing in northeastern China.
Rosneft is the crude supplier via the ESPO pipeline and PetroChina is the buyer. The oil will be processed at three refineries in northeast China.

Short URL : https://goo.gl/zY4Khi
  1. https://goo.gl/mdnDbk
  • https://goo.gl/yXzDKM
  • https://goo.gl/9WiaHN
  • https://goo.gl/F1hWLA
  • https://goo.gl/kpurqa

You can also read ...

Offshore drilling is expensive in a time of relatively low oil prices.
The US administration on Friday said it would offer the...
Egypt to Import LNG   From France
Egyptian Natural Gas Holding Company has arranged for the...
India to Increase Oil Imports From Iran
In April through January, the first 10 months of this fiscal...
UAE Committed to OPEC Output Reduction Deal
The UAE will remain committed to the global oil output...
SP Phase 13 Ready to Deliver Sweet Gas
The first gas sweetening train in Phase 13 of South Pars Gas...
The national gas network accounts for providing 70% of the country's energy.
In line with efforts to deliver natural gas to far-flung...
NPC Subsidiary, Foreign Firms in Scientific Coop.
The Petrochemical Research and Technology Company of Iran...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus