China buys cheaper oil from Russia

8

In the last days of March 2020, Russian Urals oil set another anti-record, having fallen in price to $ 13 per barrel (CIF port of Rotterdam). Moreover, China, in February-March 2020, has already bought more than 1 million tons of cheaper Russian oil. It should be borne in mind that if such a low price persists, oil duties will be reduced and the severance tax will decrease, which may affect the Russian budget.

According to Bloomberg, referring to traders, in March 2020, Chinese refineries purchased with the delivery in April of this year 10-12 cargoes of Urals brand oil. Moreover, the Singapore company Unipec (a trading subsidiary of the Chinese state oil and chemical corporation Sinopec) purchased at least 9 cargo, including 7 cargo from Surgut. In addition, the Chinese purchased 1 Urals cargo from a Litasco trader.



Bloomberg noted that in February 2020, China bought 540 thousand tons of oil from Russia, and in March this year already 700 thousand tons. Thus, traders are signaling that China has begun to recover economic activity.

At the same time, the Norwegian state-owned company Equinor ASA announced that it intends to increase production at the Johan Sverdrup field in the North Sea, reaching a maximum of 470 thousand barrels per day in May 2020. Norwegians decided to increase production by 30 thousand barrels of oil per day, despite lower prices in the raw materials market, which will add imbalances even more.
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8 comments
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  1. Arkharov
    Arkharov
    -1
    April 1 2020 00: 14
    And here, recently, someone was happy how the Chinese and I outwitted everyone. What exactly do they take from us, and the Saudis paw for a day, in Europe, everything is cheaply flooded to the eyeballs, right down to plastic half ains. A crime on the part of the Chinese would not be a storehouse at this price, but what then?
    1. 123
      123
      +2
      April 2 2020 21: 25
      And here, recently, someone was happy how the Chinese and I outwitted everyone.

      If you mean me, then there was no talk of any "outwitted". Our industry works, oil is sold. And like them, these are not our problems. No.

      What exactly do they take from us, and the Saudis paw for XNUMX hours, in Europe everything is cheaply flooded to the eyeballs, right down to plastic half a cup.

      As for the paws, I’m not sure, we went to Trump, and he, like, has no paws. request And about one and a half, do you have other information? sad

      A crime on the part of the Chinese would not be a storehouse at this price, but what then?

      Quite right, the main thing in this situation is that the storage facilities are clogged with Russian oil. And then what? Most likely, in China there will still be a decline in production. They establish production, but markets are closed. It’s like movement in a column, one became and twitching started. While everyone will gain the same speed, a lot of time will pass, but some will have nothing to go on.
      China will slow down, India should start recovering by then, it will need oil, and they will take it in Russia, because they have been dragged into the development of deposits. They will buy where they participate in production in order to support their companies.
      Meanwhile, the Saudis have been instructed that they want and will collect OPEC, Russia will probably agree to a meeting, but will refuse to reduce production. Something like this hi
  2. gorenina91
    gorenina91
    0
    April 1 2020 03: 12
    China buys cheaper oil from Russia

    Bloomberg noted that in February 2020, China bought 540 thousand tons of oil from Russia, and in March this year already 700 thousand tons. Thus, traders are signaling that economic activity has begun to recover in China.

    - That's the whole "stabilized price" for oil ... - arrived ...
    - Ha, but the "digital part" of the site was expecting that China would supposedly tell Russia that, they say, it had agreed with Russia to buy more expensive oil from it (this is also stated in the agreement); and Russia suddenly sells its oil to him at a lower price ... - this is bad for Russia ... - How is it ... - after all, China is worried about Russia ... - after all, Russia will suffer losses ... - But how would not be so ...

    According to Bloomberg, referring to traders, in March 2020, Chinese refineries purchased with the delivery in April of this year 10-12 cargoes of Urals brand oil. Moreover, the Singapore company Unipec (a trading subsidiary of the Chinese state oil and chemical corporation Sinopec) purchased at least 9 cargo, including 7 cargo from Surgut. In addition, the Chinese purchased 1 Urals cargo from a Litasco trader.

    - Personally, I’ll say something else ...- And how did China acquire this Russian oil ...
    - Indeed, the American sanctions against Russia are in force, which China itself supported ... - How so ...
    - Ha, yes, China can simply buy this volume of Russian oil just "on the vine" (like a growing crop) and ... and not export it from Russia ... - And no oil supplies from Russia to China in April 2020 will be ... - And this oil will remain in Russia .., especially since China's oil storage facilities are full ... - so China will not even violate American sanctions against Russia ... - And then, when the oil price rises. ..- China can simply sell the same Russian oil ...- again to Russia itself and buy oil from Russia at the agreed price (which will be lower than the oil price soared by that time) ... -That's all ... - out of the blue, without any costs ... - China made a lot of money ... - And what did Russia get ??? - A donut hole ... - some losses ...
    - And by the way ... - and who prevents China from simply reselling Russian oil at its own set price ??? - Here is your "faithful" and "reliable" partner ...
    - By the way ... - the speculative market is open to everyone ... - It is Russia with its "genius guarantor" that is trying to establish "stabilized prices" with the Americans and trade at "fixed prices" for its hydrocarbons at the price of "rotten hemp" and "rotten straw" ...
    1. plabu
      plabu
      +1
      April 1 2020 05: 05
      Quote: gorenina91
      ... - Ha, and the "digital part" of the site expected that ...

      First of all, I would like Madame "Yablondi" to stop being rude, but this is just very unrealistic. bully
      And the fact that continuation and chewing on all the same topics will continue from you - almost no one already doubts, however, the sense from this "analytics" ... - well, V.S. Vysotsky has already been a long time ago about the result of your opuses wrote, but when did that confuse you, right? hi
      1. 123
        123
        +2
        April 2 2020 20: 06
        Don’t worry, colleague, hi the "analog" group slows down, in the digital age, outdated analog equipment cannot cope with the volume and processing of information. winked
        1. plabu
          plabu
          +1
          April 2 2020 20: 44
          I do not worry at all, so, a statement of fact, no more ... hi
  3. oracul
    oracul
    0
    April 1 2020 06: 16
    Another opportunity for some to gloat over Russia. And what, in fact, is the problem? There is an oil war for the redivision of the world. This is not hiding. The main thing is that oil is taken from us, and not from competitors. Well, let Norway go wherever it wants with its barrels, it needs to think about the future without oil, and the price will not be good for them.
    1. 123
      123
      +2
      April 2 2020 20: 14
      Absolutely. good Oil is sold, people receive a salary, the budget, although less, receives taxes, and ghost tankers with Bedouin oil aimlessly plow the ocean, because there is no destination. We stock up on popcorn and watch the tantrum of Prince Salman. smile