China
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Oil edges up; markets shrug off China inflation data, eye fresh drivers
Oil prices edged up on Thursday as markets shrugged off deflationary indicators in China and looked for further clues on the status of demand from the world's two biggest oil consumers.
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China refiners cut oil output as thin margins, quota shortage bite
China's oil refinery utilisation rates are easing from record third-quarter levels as thinning margins and a shortage of export quotas discourage plants from raising output for the rest of 2023, according to traders and industry consultancies.
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Oil, gas industry has ‘considerable’ potential for Iran-China cooperation: Mokhber
SHANA (Tehran) – Iran’s first vice president said on Monday oil and gas industry has a “considerable” potential for Tehran-Beijing cooperation.
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China's 'teapot' refiners mop up swelling Iranian crude, defying U.S. curbs
Appetite for Iranian crude is growing in China, the world's biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices, while Tehran is stepping up output and exports despite U.S. sanctions.
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Oil edges up on tighter supplies, heating oil prices
Oil prices edged higher on Monday as tighter supply reflected in fewer exports from Saudi Arabia and Russia and high heating oil prices outweighed concerns about global demand growth amid high interest rates.
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Oil dips further as China worries counter supply cuts
Oil prices dipped on Monday as concerns about China's faltering economic recovery and a stronger dollar took the momentum out of seven weeks of gains on tight supply.
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Iran’s oil shipments to China triple amidst U.S. sanctions
Iran’s oil shipments to China have more than tripled over the past three years despite the U.S. sanctions on the country and the increase in Russia’s shipments to China.
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Oil prices up 2% to three-month high on tight supply, China stimulus hopes
Oil prices climbed over 2% to a three-month high on Monday on tightening supply, rising U.S. gasoline demand, hopes for Chinese stimulus measures and technical buying.
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IEA chief says oil demand projections depend on China's growth
The International Energy Agency (IEA) will revise its global oil demand growth projections based on the economic growth prospects of China and some other countries, its executive director Fatih Birol said on Saturday.
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Brent oil hovers over $80 as inflation worries ease
Global oil benchmark Brent hovered above $80 on Wednesday, buoyed by China's pledge to reinvigorate economic growth and expectations the U.S. Federal Reserve will stop raising interest rates soon.
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Oil up on strong China refinery data
Oil prices rose on Thursday after a plunge the previous day, as data showed a jump in refinery runs at the world's top crude importer China, but a weak economic backdrop capped gains.
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China's yearly natural gas use logs first decline in over three decades, EIA says
China's natural gas consumption and LNG imports dropped in 2022 as a result of lower economic growth and higher gas prices, marking the first annual decline in consumption since 1990, the U.S. Energy Information Administration (EIA) said.
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Oil slips on weak China demand fears, U.S. rate rise forecast
Oil prices fell in Asian trade on Tuesday, extending losses seen in the previous session, as weak economic data from China and expectations of a U.S. interest rate increase weigh on the market.
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Oil prices steady on uncertain global outlook and supply concerns
Oil prices were steady on Monday as concern over rising interest rates, the global economy and the outlook for fuel demand were balanced by the prospect of tightening supplies.
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Oil edges up as China's economy gathers pace
Oil prices firmed slightly on Tuesday, after falling 2% in the previous session, as stronger economic data from the world's largest crude importer China underpinned the demand outlook.
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China's March crude oil imports surge 22.5% from year earlier
China's crude oil imports in March surged 22.5% from a year earlier to the highest since June 2020, data showed on Thursday, as refiners stepped up runs to capture fuel export demand and in anticipation of a domestic economic recovery.
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Oil steady as market awaits China GDP data
Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world's second-largest oil consumer.
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Oil rises on China stimulus expectations, weaker dollar
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude stockpiles.
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Asia main driver of 2023 oil consumer market
Global oil demand in 2023 is expected to grow 2.32 mb/d compared with 2022. China and India continue to remain the main drivers in the oil market this year. According to the Organization of the Petroleum Exporting Countries (OPEC) data, China will have a 26% share (590 tb/d) of this global increase in oil demand, but the IEA estimates China’s share at 47% (900 tb/d) of its own estimate of 1.9 mb/d increase. In-between, Russia has become a leading oil supplier to China. The Directorate of OPEC and International Energy Fora of Iran’s Ministry of Petroleum has reviewed the oil market based on the latest reports released by the OPEC, International Energy Agency (IEA) as well as the US’s Energy Information Administration (EIA).
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Tehran, Beijing sign 20 documents
Iran, reliable partner for world energy supply
The Iranian president, Ebrahim Raeisi, visited China at the head of a high-ranking delegation at the invitation of his Chinese counterpart Xi Jinping in mid-February. Minister of Petroleum Javad Owji was accompanying the president. During the three-day visit, 20 documents of cooperation were signed between the two nations in various sectors. Raeisi highlighted Iran’s huge oil and gas reserves, saying: “Iran-China partnership in maintaining energy security can help establish peace and bring about development at the regional and global levels, not to mention guarantee shared interests.”
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Owji talks of good deals with China, record sour gas output, SP Phase 11 launch
TEHRAN (Shana) – Iran’s oil minister on Saturday talked of good agreements with giant Chinese companies, record annual production of sour gas, and launch of Phase 11 of South Pars (SP) gas field.
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Tehran, Beijing Cooperation Favorable for Future of Iran
TEHRAN (Shana) -- A member of the Energy Committee of the Islamic Parliament said: “Today, the economic cooperation between Iran and China is more coherent than ever, and the recent visit of the president to this country can bring good results for Iran.”
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Iran Can be Supplier of China's Energy Demand: Expert
TEHRAN (Shana) -- An expert on energy issues said since the driving engine of China's economy is the energy sector and Iran also has stable sources of energy, the latter could easily meet China's needs.
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Iran, China Forming Mutual Dependence: Expert
TEHRAN (Shana) -- The head of the Institute of International Energy Studies (IIES) stated that the relations between Iran and China are getting stronger, and said: “The Chinese have always maintained their relationship with our country despite the imposition of sanctions against Iran.”
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Iran, China Economy could complement each other: Ex-Official
TEHRAN (Shana) -- The former director of international affairs of the National Iranian Oil Company (NIOC) emphasized that the economy of Iran and China can complement each other and meet many of each other's needs.
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China Keen on investing $50 m in Mahshahr Petzone
TEHRAN (Shana) -- A delegation of Chinese investors visited Mahshahr Petrochemical Special Economic Zone with the aim of checking the existing infrastructure and the possibility of investing $50 million to build a carbon-sulfur production plant.
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NIOC, Sinopec in talks for Phase-2 of Yadavaran Oilfield
TEHRAN (Shana) -- The director of investment and business of the National Iranian Oil Company (NIOC), emphasizing that the 13th administration, unlike the previous administration, has a strategic view of old partners such as China and Russia, stated: “Since the beginning of the 13th admonition, regular negotiations have been held with China's Sinopec Company regarding the second phase development of Yadavaran field.
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Iran, China Preparing for Oil, Energy Cooperation
TEHRAN (Shana) -- The Iranian Minister of Economy and Finance said executive measures have been placed on the agenda of the Iran-China Comprehensive Cooperation Program meeting in the field of oil and gas and investment.
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CNPCI Iran President Meets with Owji
TEHRAN (Shana) – The President of CNPC International LTD. (Iran), Li Yingchang, met with Iranian Minister of Petroleum Javad Owji in his Tehran office on Thursday.
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Iran Ready to Boost Exports to China: Rouhani
TEHRAN (Shana) – Iranian President Hassan Rouhani said, "It is necessary to further strengthen Iran-China relations, especially in the economic and trade fields, including increasing Iran's oil and non-oil exports to this country and facilitating the presence of Chinese companies in Iran.”