China’s Russian energy imports balloon to $88bn since war
In the year since Russia invaded Ukraine, roiling energy markets across the globe, China’s appetite for Moscow’s oil, gas and coal has grown apace, with imports rising by more than half.
Oil imports
UK needs ‘another Buzzard’ to balance North Sea decline and reduce imports
A leading analyst says the North Sea “could do with another Buzzard” to offset production decline and plug the import gap.
UK forked out more than £18bn on oil and gas imports in first six months of 2021, according to trading figures
The UK shelled out more than £18 billion on oil and gas imports in the first few months of the year, according to the government’s latest trading figures.
Oil and gas and energy transition ‘inextricably linked’, says OGUK boss
A senior industry figure has stressed the importance of oil and gas to a successful energy transition, describing the two as “inextricably linked”.
Africa’s largest oil producer can’t beat oil imports addiction
Africa’s biggest oil producer is trying to get its refineries working in an attempt to wean itself off imported fuel. Yet again.
China oil imports rebound as new emergency reserves open
China’s crude imports rebounded last month to near a record as the world’s second-largest oil consumer began filling tanks at a new strategic petroleum reserve site. Overseas shipments rose to 29.49 million metric tons in June, a 27 percent increase from May when shipments were the least since February 2014, according to preliminary data released by the Beijing-based General Administration of Customs on Monday. Oil imports last month were equivalent to about 7.2 million barrels a day compared with a record 7.4 million in April, Bloomberg calculations show. China’s crude imports rose as it began filling the second phase of emergency reserves in the eastern city of Qingdao that have a capacity of 3 million cubic meters (about 19 million barrels). Oil imports may climb in the third quarter from the previous three months as another storage site in the southern Chinese city of Huizhou is scheduled to open, ICIS China, a Shanghai-based commodity researcher, said July 1.