The Diplomat spoke about the reckoning of Russia for energy ambitions in Asia

3

Russia in recent decades has been strengthening economic ties with China. As energy demand in Europe is declining, dynamically developing China has become a critical market for Russia's energy sector. The Diplomat analyzes the economic prospects of Europe, China and Russia and expresses the idea of ​​a possible reckoning of the Russian Federation for energy ambitions in Asia.

China has been increasing oil demand since 2008 and by 2018 has overtaken the EU, consuming just under 14 million barrels daily. Last year, Russia became the largest supplier of petroleum products in China. However, China’s ability to make up for losses from declining European demand has weakened due to a slowdown in the Chinese economy, stringent air emissions standards and a trade war with the United States - these factors began to put pressure on oil demand in the Middle Kingdom.



Demand for "black gold" in China before COVID-19 was supposed to be halved in 2020 compared with a year earlier. China increased investment in the exploration of its main oil fields last year by about 20 percent to reduce its dependence on imports. April data show continued production growth of 0,8 percent year on year. These data would be even higher if oil prices did not rise after January.

Thus, according to experts from The Diplomat, the Kremlin’s bid on the Chinese market may play a trick on the Russian budget, a significant part of which is oil and gas revenues.
3 comments
Information
Dear reader, to leave comments on the publication, you must sign in.
  1. 123
    123
    -1
    22 May 2020 15: 49
    Thus, according to experts from The Diplomat, the Kremlin’s bid on the Chinese market may play a trick on the Russian budget, a significant part of which is oil and gas revenues.

    Can not. No. The Kremlin is not inclined to joke, moreover, it prefers to play its own game.
    The diplomat is aware that

    In 2019, US oil exports to China fell by 43% to 133 thousand barrels per day. This is stated in the report of the Energy Information Administration (EIA) of the US Department of Energy.

    Now, under the terms of the "deal," he seems to have to sharply increase purchases from the United States, but for some reason he is in no hurry to do this. feel
  2. gorenina91
    gorenina91
    -5
    22 May 2020 17: 29
    The Diplomat spoke about the reckoning of Russia for energy ambitions in Asia

    Thus, according to experts from The Diplomat, the Kremlin’s bid on the Chinese market may play a trick on the Russian budget, a significant part of which is oil and gas revenues.

    - Unfortunately, this "Diplomat" is absolutely right ...
    - Personally, I'm just tired of writing about ... how destructive for Russia such "cooperation" with China ... - and all these "Forces of Siberia"; whose power is aimed solely at the weakening, enslavement and impoverishment of Russia and the strengthening and prosperity of China ...
    - And it is already beginning to show itself in all its glory ...
    1. The comment was deleted.
  3. bear040
    bear040
    +3
    22 May 2020 21: 44
    You might think that in the EU, because of this virus and a number of other reasons, the economy has not slowed down ... Well, at least there is China, trade with which makes the Russian Federation less dependent on the vagaries of NATO Europe, which lies under the United States, and there’s definitely nothing to wait for the Russian Yankees nothing good!