Chinese Refinery Drops Russian Oil, Turns to Kazakhstan and UAE
Photo: Elements.envato.com, ill purposes
Due to Western sanctions, Chinese refineries are adjusting their supply chains, Orda.kz reports.
Chinese state-owned refiner Yanchang Petroleum has halted purchases of Russian crude and shifted to oil from Kazakhstan and the UAE, according to Reuters.
In January, the refinery is expected to receive three million barrels of imported crude — two million barrels of Murban from Abu Dhabi and one million barrels of Kazakhstan’s CPC Blend.
Yanchang’s refinery in Shaanxi Province has a processing capacity of up to 348,000 barrels per day.
Until recently, Yanchang regularly bought Russian crude, mainly Far Eastern grades such as ESPO and Sokol, typically one cargo per month.
The company has now joined other major Chinese refiners, including Sinopec, which stopped purchasing Russian oil in October following Western sanctions targeting Russia’s largest oil companies.
Original Author: Ruslan Loginov
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