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 ...

Venezuelan Refineries in Danger of Seizure
In 2007, following Venezuela’s expropriation of billions of...
Caspian Convention Can Help Boost Iran Oil, Gas Exports
The Convention on the Legal Status of the Caspian Sea will...
China Tariffs to Darken Prospects of US LNG
This winter could be a bleak one for America’s natural gas...
Chevron to Develop Iraqi Oilfields
Iraq’s state-run Basra Oil Company and Chevron, an American...
Spanish Esproenko to Continue Iran Business
Esproenko International, which specializes in oil and gas...
OPEC Should Remain Independent, Apolitical
Some members of the Organization of Petroleum Exporting...
NIGC Export Capacity at 75 mcm Per Day
The National Iranian Gas Company’s capacity to export natural...
Higher Electricity Tariffs Should Moderate Usage
Imposing higher tariffs on those who exceed fair consumption...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus