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24.09.25 - 21:45
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Sharp Rise In China-Indonesia Oil Imports Points To Iranian Workaround (ZeroHedge)
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Sharp Rise In China-Indonesia Oil Imports Points To Iranian Workaround
China has logged a sharp increase in crude imports from Indonesia in recent months, suggesting Beijing has found "new workarounds" to access Iranian oil despite U.S. sanctions, Bloomberg reports.
Oil storage tanks on the outskirts of Shanghai. Source: Bloomberg
Chinese customs data show 2.7 million tons of crude from Indonesia - roughly 630,000 barrels a day - arrived in August. That followed a tripling of flows in July compared with the previous month. The volumes are unusually high given Indonesia has been a net oil importer for more than two decades. Last year the country pumped about 580,000 barrels a day, most of it consumed domestically, according to the U.S. Energy Information Administration. Local demand runs near 1.7 million barrels a day.
China has a new conduit for its purchases of Iranian oil.
"Indonesia" is the new "Malaysia."
Last month, China bought 2.7 million tons (~630,00...
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09.12.24 - 09:28
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Explorer KUFPEC eyes more oil and gas opportunity in Indonesia′s Natuna Sea (Reuters EN)
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Explorer KUFPEC eyes more oil and gas opportunity in Indonesia's Natuna Sea By Fransiska Nangoy JAKARTA, Dec 9 (Reuters) - Kuwait Foreign Petroleum Exploration Company (KUFPEC) is looking at more oil and gas opportunities in Indonesia's Natuna Sea, its country representative said on Monday, with Indonesian President Prabowo Subianto looking to boost the country's production....
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