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BEIJING -- The global oil price collapse is battering China's upstream oil companies but acts as a boon to downstream refineries, analysts said.Partly due to the coronavirus pandemic, international crude prices slumped in the past few months, with the benchmark Brent crude nosediving from about $68 per barrel in early January to around $25 at present.The upstream of the oil industry including oil producers and oilfield service firms has been hit hard by the plummeting prices, said Dong Xiucheng, professor with the University of International Business and Economics.The cost of domestic oil ...
تاريخ: 2020 - 04 - 27
المشاهدات:4
Analysts said the US oil futures price turning negative reflects an energy market continuing to reel from the dual demand-supply shock amid the COVID-19 pandemic, and China should further increase domestic oil and gas storage facility construction for better energy security.The May contract for US oil benchmark has turned negative for the first time in history, as the coronavirus pandemic decreased demand for fuel amid insufficient storage for the massive glut of oil.West Texas Intermediate for May delivery shed $55.9 to settle at-$37.63 a barrel on the New York Mercantile Exchange on Monday, ...
تاريخ: 2020 - 04 - 22
المشاهدات:3
TOKYO -- US crude oil plunged nearly 20 percent to below $15 per barrel on Monday, hitting the lowest level in more than a decade as the COVID-19 pandemic cast a shadow over the global market.
تاريخ: 2020 - 04 - 21
المشاهدات:1
Companies again allowed to sell abroad as nation facing excessive productionChina's granting export quotas for refined oil products to non-State-owned refineries in the Zhejiang Pilot Free Trade Zone will ease the country's domestic oversupply of petroleum products, while sharpening the competitive edge of local refiners, said insiders.With a new round of refining capacity expansion, the country is facing excessive oversupply in the sector, and permitting qualified private companies to export oil products will ease the pressure, said Li Li, research director at energy consulting compan...
تاريخ: 2020 - 04 - 17
المشاهدات:2
BERLIN - A China-Europe freight train from Wuhan, capital of Central China's Hubei province and once the epicenter of the COVID-19 outbreak, on Tuesday arrived in its destination -- the western German city of Duisburg.It was the first China-Europe freight train from Wuhan after the city was placed under lockdown for almost 11 weeks from January due to the COVID-19 outbreak, marking the resumption of China-Europe freight services in Wuhan.The train left Wujiashan railway container center station in Wuhan on March 28.In Duisburg, the welcome ceremony of the train was attended by China Consul...
تاريخ: 2020 - 04 - 16
المشاهدات:2
China will create fresh momentum for exports in e-commerce and processing trade, and will actively respond to foreign restrictions in order to stabilize the country's foreign trade growth this year, a customs official said on Tuesday.The country will encourage more global companies from the maintenance and remanufacturing sectors to establish operations in China's comprehensive bonded zones, support manufacturers in central, western and northeastern regions to undertake processing trade and facilitate the global expansion of cross-border e-commerce firms, said Li Kuiwen, a spokesman fo...
تاريخ: 2020 - 04 - 15
المشاهدات:2
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