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01.05.26 - 09:42
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China Reopens Fuel Export Spigot, Offering Relief To Asian Buyers (ZeroHedge)
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China Reopens Fuel Export Spigot, Offering Relief To Asian Buyers
Beijing is reversing its curbs on refined fuel exports after halting shipments in the opening days of the U.S.-Iran conflict. This move suggests that Chinese domestic inventories are now at comfortable levels, allowing state refiners to reopen the export spigot, even as much of Asia remains gripped by a fuel shock caused by disrupted Gulf energy flows through the Hormuz chokepoint.
There was chatter earlier this week that China's state-owned refiners were applying for government permits to resume fuel exports in May. These include China Petrochemical (Sinopec Group) and China National Petroleum Corporation.
By late in the week, Bloomberg reported that state-owned refiners had received government approval to export 500,000 tons of fuel next month.
People familiar with the upcoming shipments said the one-off quota would allow gasoline, diesel, and jet fuel to be sent to neighboring Asian countries, providing relief amid a worsen...
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29.04.26 - 06:30
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China oil stocks rise as crude rally lifts Sinopec, CNOOC earnings (SCMP)
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Chinese oil producers advanced after two of the country's major players reported stronger first-quarter earnings, buoyed by a surge in crude prices.
Shares of China Petroleum and Chemical Corp, also known as Sinopec, rose 0.7 per cent to HK$4.62 in Hong Kong, while its Shanghai-listed stock gained 1.1 per cent to 5.41 yuan. China National Overseas Oil Corporation (CNOOC) climbed 1.7 per cent to HK$29.46 and PetroChina added 1.6 per cent to HK$11.86.
Oil stocks have been in focus since crude......
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28.04.26 - 15:30
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SINOPEC CORP 1Q Net Profit RMB17.739 billion, Up 26.9% YoY (AAStocks)
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SINOPEC CORP (00386.HK) announced its first-quarter results. Revenue amounted to RMB706.695 billion, down 3.9% YoY. Net profit attributable to shareholders reached RMB17.739 billion, up 26.9% YoY, with EPS of RMB0.147.Under PRC accounting standards, net profit attributable to shareholders was RMB17.006 billion, up 28.2% YoY, wit......
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