The largest state-owned refinery in China refused even cheap oil from Russia

The oil embargo and restrictions in the form of "self-sanctions" led to the fact that Russian oil became in demand in other markets, instead of the usual ones, but at the same time lost in price. Which, of course, made it even more attractive to purchase. However, as it turned out, not for all countries, even friendly ones. For example, the largest oil refinery (refinery) in China, owned by the state-owned PetroChina, is not going to buy oil (and gas) from Russia, even at a greatly reduced cost.

CFO Chai Shouping said during an online conference call with analysts that PetroChina currently has no "plans or arrangements" to acquire cheap oil and gas from Russia, Nikkei Asia reported.

The state company said it does business with Russia in accordance with "pre-signed contracts" and, unlike India, is not going to take advantage of Russian oil, which has been heavily depreciated since the start of a special operation in Ukraine and the imposition of tough sanctions. Simply put, at the moment there are no agreements, and the Chinese side is apparently afraid to sign new ones with Russian suppliers.

Also, PetroChina was forced to admit that Western sanctions against Russia still affected deals on oil and gas production.

Previously, our oil and gas deals with Russia were settled in US dollars or euros, but sanctions and some other factors affected the calculations to a certain extent

- quotes the head of PetroChina edition of Nikkei Asia.

The idea of ​​the “petroyuan” is becoming more and more popular (in China itself and in a number of other countries) as an alternative to selling oil in dollars, especially after the start of the events in Ukraine. Therefore, Mr. Shouping noted that Beijing "will continue to support the further expansion of payments in national currencies," also hinting at the possibility of using rubles. However, will China decide to take this step officially?

The first shipments of Russian coal, paid in yuan, were supposed to arrive in China at the end of April, and the first shipment of Russian oil, also with the obligation to pay in yuan, was supposed to arrive in Chinese ports in May. But while these deliveries have not taken place, official Beijing is studying possible negative consequences for its economicsif these deals are seen by the West as helping to circumvent sanctions.

Most likely, the conclusion of the study and the "stress test" of the economy seemed dangerous or unpredictable to the country's leadership, since such unambiguous conclusions were made by the state importer.
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  1. Michael L. Offline Michael L.
    Michael L. 8 May 2022 08: 41
    It is quite natural.
    Life has long shown that the role of a raw materials appendage is hopeless for the Russian Federation.
    There is another confirmation of the need to accelerate the development of the real sector of the economy!
    1. Victorio Offline Victorio
      Victorio (Victorio) 8 May 2022 09: 31
      Quote from Mikhail L.
      Life has long shown the hopelessness of the role of a raw materials appendage for the Russian Federation.

      raw materials have and will have prospects. and the Russian Federation in this regard, everything is more or less in order.
      1. Michael L. Offline Michael L.
        Michael L. 8 May 2022 09: 39
        This site is not a place for spells! ;-(
        1. Victorio Offline Victorio
          Victorio (Victorio) 8 May 2022 09: 50
          Quote from Mikhail L.
          This site is not a place for spells! ;-(

          I see
          1. Michael L. Offline Michael L.
            Michael L. 8 May 2022 09: 53
            And no place for idle talk! ;-(
            1. Victorio Offline Victorio
              Victorio (Victorio) 8 May 2022 10: 01
              Quote from Mikhail L.
              And no place for idle talk! ;-(

              ? so don't waste your time
              1. The comment was deleted.
              2. Michael L. Offline Michael L.
                Michael L. 8 May 2022 12: 25
                "Than the gossips count to work,
                Isn't it better to turn on yourself, godfather? "
                She answered Mishka.
                But Mishenkin's advice just vanished.

                (I.A. Krylov)
                1. The comment was deleted.
                  1. The comment was deleted.
    2. alexxnumx Offline alexxnumx
      alexxnumx (Alexander) 9 May 2022 22: 45
      Michael, when you write something, think first - I advise you to use your head for its intended purpose.
      Are you the only one smart enough to determine what is promising and what is not?
      Or maybe you think that in a year we will build a production of processors in Russia?
      Is it okay that even China, which is much more serious and earlier carries out import substitution, has not yet received independence from the West?
      Let's not sell oil and gas abroad at all - and then everything will be fine with us - is this your option?
      And then the state will completely lose its income, people employed in the oil and gas industries and companies serving this area will lose their jobs. Will you pay their families out of your own pocket for life?
      Even the United States does not refuse oil and gas production, and even they want to sell their gas to Europe, and you are talking utter nonsense and demagoguery
      Moreover, in a mentor tone, you indicate to whom and what you can write here! By shutting people's mouths, you impoverish and lower the level of discussion to primitive hatred
      1. Smilodon terribilis nimis 10 May 2022 05: 51
        China will never gain independence from the West. In world history, only one country was completely independent of the West - the USSR. With regards to Russia. everything is in her hands.
        1. Peace Peace. Offline Peace Peace.
          Peace Peace. (Tumar Tumar) 10 May 2022 07: 46
          You still need to know how to use it.
      2. Amper Offline Amper
        Amper (Vlad) 11 May 2022 19: 32
        Burning oil is like heating the stove with banknotes

        D. Mendeleev.
        Selling fossil fuels is for backward economies. Can he start producing products from hydrocarbons, everyone will be in business, oilmen, chemists, and the industry for the redistribution of raw materials!?
  2. Evdokimov Sergey Yurievich 8 May 2022 08: 42
    We need to build our own refineries while there is time. Reduce the cost of gasoline and diesel fuel at gas stations. They will sell their native. The time will come when they themselves will come running. Selling crude oil is the height of stupidity. It’s like in our countryside, they grow grain, and there is no processing - raising livestock, producing sausages and cheeses. There are 10 workers left, the rest left, there is no work. everywhere. No one develops production. We buy a garden wheelbarrow from China.
  3. SIT Offline SIT
    SIT (Stas) 8 May 2022 11: 05
    China now needs to balance right on the blade. On the one hand, the ban on supplies to the US market will bring the Chinese economy to a halt. On the other hand, the collapse of Russia will lead to the complete opening of China to the flow of controlled chaos in the form of ISIS and other Basmachi through Muslim Xiangjian. In addition, all Chinese silo-based ICBMs are located near the Russian border under the umbrella of Russian air defense from the S400, and in the future, the S500. Without this umbrella, they will be a fairly easy target for the United States, which means another question is who will join whom with whom - Taiwan to China or vice versa. Especially if the holy jihad falls from the west of China, and the 5th column in Hong Kong raises its head in the east. According to this, the Chinese now need to wag like a canker boat in order to protect their interests. To do this, they need to keep accountants out of political planning, otherwise it will be like in Russia.
    1. Smilodon terribilis nimis 10 May 2022 05: 53
      Usually such a balance ends with an armature sticking out of the ripped open abdomen. If Russia endures the press and gains strength, the authority of China, as a woman of easy virtue, will fall sharply.
    2. Smilodon terribilis nimis 10 May 2022 05: 54
      China is doomed. Having put on a western collar, he will drown with it.
  4. Mihail55 Offline Mihail55
    Mihail55 (Michael) 8 May 2022 11: 08
    Enough on TV and in other virtuals to promote the raw material theme. Any meeting between the President and the governors (I often show a piece on TV) should begin with the question - how many NEW jobs have been created in the industry? Taxes, labor productivity, salary, scientific support, etc. are just levers ... the main thing is POITICAL WILL! There is a war going on that has never ended... for centuries. It is a pity that many young people do not understand this. It has become customary to buy a lot. TRAINED! Broadcast about world specialization! Economic security...OW!!!! Naturally, some successes are planned, but time does not endure ... DOUBT!
  5. (ON) Offline (ON)
    (ON) 8 May 2022 18: 13
    Yeah, right now I believe. They buy from Iran, but they won’t be from us.
  6. kriten Offline kriten
    kriten (Vladimir) 8 May 2022 18: 35
    The Chinese Komsomol members, who control this plant and many other things, are gaining strength and are preparing to overthrow Xi. And if they win, then it will be an indestructible bloc with the United States.
    1. Dingo Offline Dingo
      Dingo (Victor) 10 May 2022 04: 58
      How long ? The "racian, panimaash" oligarchs-nuvorishi also thought so. And now Mordashov, to whom the Red Cherepovets Combine presented, hides his yacht in Vladik ... Koresh, apparently, warned before dumping ...
  7. alexey alexeyev_2 (Alexey Alekseev) 8 May 2022 20: 09
    Yes, and the dog is with you .. Lick your lips on Taiwan for another 200 years. A nation of traders
    1. Roma Phil Offline Roma Phil
      Roma Phil (Roma) 9 May 2022 00: 09
      China is studying economic sanctions against Russia and trying on all the consequences of this for itself, in the event of an invasion of Taiwan. And sooner or later the invasion will still take place.
      That's when Russia will answer China with the same.
      1. Monster_Fat Offline Monster_Fat
        Monster_Fat (What's the difference) 9 May 2022 05: 33
        China, in fact, has joined the anti-Russian sanctions for a long time and supports them, and as the story with UnionPay and the refusal of any relations with Russia in terms of helping it to sell Russian products and purchase "forbidden" technology goods, made it clear, it will continue to support them. At the same time, publicly declaring their "friendship" and "unprecedented partnership" with Russia. False and cunning China. "Friend" and "Companion", yeah .. yes lol
  8. Potapov Offline Potapov
    Potapov (Valery) 9 May 2022 07: 59
    So it is necessary to ensure the processing of our fossils ... And an expensive sale to those who need it, and not to the cunning ...
    1. rotkiv04 Offline rotkiv04
      rotkiv04 (Victor) 9 May 2022 13: 36
      You are setting unrealistic plans for the Kremlin leaders
      1. alexxnumx Offline alexxnumx
        alexxnumx (Alexander) 9 May 2022 22: 57
        I also do not believe that ours will develop production. Nabiullina was left, and then it started - with such monetary policy it interferes with production and harms banks
  9. Storm_2022 Offline Storm_2022
    Storm_2022 (Storm _2022) 9 May 2022 14: 34
    They do not want to buy and process our oil, after a while they will buy our gasoline produced at Russian refineries, and the Chinese will have to close their refineries!
  10. ksa Offline ksa
    ksa 9 May 2022 20: 21
    There are fewer energy resources on the Planet (this is all to know). The price of energy resources rises accordingly. But the West does not want to pay more for energy resources.
    He comes up with a "carbon tax" - this is when we (roughly speaking) sell him energy resources, and then we give him a significant part of the money received in the form of a "carbon tax".
    The idea is good, but somehow too obvious ..... Energy sellers are not being conducted.
    Then let's do this - since energy resources are becoming more expensive and our economic efficiency is falling, let's call on Greta Tumberg and with her help we will prohibit everyone from buying energy resources !!!! Their prices will go down immediately. And we will again buy them at a low price (dadom).
    And for the transitional period, we will force everyone to buy windmills and solar panels from the United States (we will declare Chinese ones environmentally dirty).

    Alas, all of the above scams do not work well. Greta, where are you? Ay!
    Therefore, there is only one (but most reliable) way to provide yourself with cheap energy for a couple of hundred years. It is necessary to destroy Russia and gain full control over its subsoil.

    We fight for this.
    For Russia.
  11. jury2477 Offline jury2477
    jury2477 (Yuri Vladimirovich) 9 May 2022 20: 31
    Cowardly merchants, with such friends you don't need enemies. So they look to snatch for free. Not fighters at all, someone fucked them all the time. It is we who constantly win under very difficult conditions, but unfortunately there are fewer and fewer of us, and they only multiply. Even in such a situation they are cowardly, but what if we asked for direct help. No, not Chinese fighters.
    1. Smilodon terribilis nimis 10 May 2022 05: 57
      Less or more - does not play any role. The vast majority will go under the knife. The rest will drag out a miserable existence of slaves.