Oil – Reuters reported that China will begin a more flexible pricing system for domestic fuel in order to prevent shortages and tame consumption to reverse years of losses for oil refiners in the country.
Oil – Bloomberg reported that Asia’s biggest refiner, China Petroleum & Chemical Corp., is seeking more asset deals from parent company after its $3B joint venture deal to replace reserves with Kazakhstan, Russia, and Columbia oilfields.
Oil – Bloomberg reported that China’s oil demand will increase at a much faster rate this year than expected because of economic recovery, a report by Deutsche Bank AG said.
Flagging of its interest in the black gold this week, China National Oil Corporation secured its place in Iraq. Together with BP, it signed the first big oil deal. Why the sudden interest in oil? Analysts maintain that China’s rapid industrialisation and hunger for more cars has lead to a serious thirst for oil, [...]
Crude Investing News reports crude oil prices regained its momentum to about $45 per barrel. However, some experts are of the view that this is not just speculation but real purchases driving the prices up. China is said to be considering buying crude oil as part of its strategy to diversify holdings from US Treasuries. [...]
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