Page 29 - Sinopec News Today

The state-owned refiner, better known as Sinopec, announced a full commissioning of the project at the end of August, with 260 megawatts of electrolysers…

The world’s largest green hydrogen project will take nearly two years longer to reach full capacity as operator Sinopec struggles with the technology seen as important to cutting emissions from heavy industry.

After false rumors of the closure of the giant Libyan Sharara oil field on Tuesday, a letter from Libya’s National Oil Company on Wednesday confirms the shutdown of one of Libya’s most important oil fields.

China has issued its first refined fuel export quotas for 2024 totalling 19 million metric tons, a volume unchanged from last years and largely in line with market expectations, Chinese consultancies... -January 01, 2024 at 08:03 pm EST - MarketScreener

China has released 179.01 million metric tons of crude import quotas for 2024, according to Chinese industry consultancies and trade sources on Tuesday, 60% more than the previous year. ...

Crude erased gains in the morning of the first trading session of 2024 despite mostly bullish news.

China has made progress on gas pricing reforms, with a linkage between upstream costs and end-user tariffs finally in place, but certain players along the gas value chain are reaping the benefits more than others. [Gas in Transition, Volume 3, Issue 11]

Red Sea: Diversions around the Cape of Good Hope can lengthen tanker voyages to Europe by up to three weeks, leading to higher freight costs and potentially supply disruption.

The latest move marks a shift by Beijing, which has been releasing quotas in batches every few months since it opened up crude imports to independent refiners in late 2015

China has allocated a massive batch of crude oil import quotas to refiners, raising the allowances from early last year by around 60% and allocating full-year quotas to some, according to consultancies and traders.