Chinese State Firms Seek Russian Oil After 4 Month Halt
Chinese state oil majors have resumed inquiries for Russian crude after a four-month pause. The move comes as Middle East supply risks drive up global prices.
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State-owned energy companies in China have resumed their efforts to procure Russia-origin crude oil after a four-month hiatus, seeking to safeguard domestic supplies against volatility in the Middle East. Trading arms of PETROCHINA CO LTD-H and Sinopec have reportedly issued inquiries for Russian cargoes this week, representing their first potential purchases since November.
