List of relevant information about China s crude oil storage
ANALYSIS: Oil in floating storage rebounds to three-month highs
Floating crude volumes slumped to 125 million barrels in mid-January, after peaking at over 248 million barrels in late June 2020. Around 48 million barrels of this floating storage is outside China, the world''s largest crude oil importer.
Opinion: China boosts crude oil storage amid soft refinery
China Crude Oil Storage: A total of 830,000 barrels per day (bpd) was added to China''s commercial or strategic stockpiles in April, up from 790,000 bpd in March, according to calculations based on official data.
China''s Sinopec to relocate crude storage at Shengli oilfield
China''s state-backed Sinopec will relocate the crude oil storage tankers at its aging Shengli oilfield and add 160,000 tonnes of storage capacity, the firm said in a statement on Friday.
China boosted Q1 crude oil storage as imports flatlined: Russell
While China''s refiners don''t disclose what grade or origin of crude is being added to inventories, it''s likely that Russian oil is one of the main types being stored. China''s imports from Russia in March were 1.51 million bpd from the seaborne market and 890,000 bpd via pipeline, giving a combined total of 2.4 million bpd, according to date
China boosted crude oil storage in December, to keep filling tanks
China boosted the volume of crude oil being stockpiled in December as lower prices encouraged refiners to lift imports and maintain high levels of throughput at their plants.
China''s record crude oil storage flies under the radar
China''s record crude oil storage flies under the radar The massive amount of crude being stored in China may end up weighing on oil imports from August onwards, even with the nation''s recovery in domestic consumption. Telegram Facebook Copy Link
Open-Source Mapping of China''s Energy Infrastructure
Oil storage facilities: 291 facilities with approximately 1.15 billion barrels of total storage capacity (crude oil: 76 facilities with 790.6 million barrels of capacity; refined products: 215 facilities with
China boosts crude oil storage, but higher price may deter future
China boosts crude oil storage, but higher price may deter future builds. By Clyde Russell. April 19, 2021 8:59 AM UTC Updated ago Oil tanks are seen at a Sinopec plant in Hefei, Anhui province
China boosts crude oil storage amid soft refinery processing
LAUNCESTON, Australia (Reuters) - The pace at which crude oil flowed into China''s stockpiles increased in April as slower refinery processing outweighed a decline in imports. A total of 830,000 bpd were added to China''s commercial or strategic stockpiles in April, up from 790,000 bpd in March, according to calculations based on official data.
China crude flows to storage poised to pick up after half-year lull
LAUNCESTON, Australia, Jan 3 (Reuters) - China''s flow of crude oil into inventories faded over the second half of last year as the world''s top importer reduced purchases in response to...
China''s Energy Import Dependency: Potential Impacts on Sourcing
As of 4 March 2022, commercial crude oil and SPR storage across the U.S. held a combined total of 989 million barrels. Data vendor Kayrros estimates that as of late February 2022, China''s total crude oil inventories were approximately 950 million barrels—92 days of import coverage at 2021 intake rates. [44]
China boosted crude oil storage even as refiners processed more
China''s loosening of its strict zero-COVID restrictions is widely being viewed as bullish for crude demand. But there are other factors in the world''s largest oil importer that give...
China keeps adding to crude oil inventories: Russell | Reuters
The question for the wider crude market is whether China''s ongoing storage flows have any implications for the likely demand trend in 2023 in the world''s biggest oil importer.
Underground Oil Storage: China Risk Series
Previously, we explored China''s above-ground oil storage. In this article, we examine its underground storage. China has four underground crude oil storage sites, all located near ports and major demand hubs: Jinzhou, Huangdao, Huizhou, and Zhanjiang. These facilities have a combined capacity of at least 100 million barrels.
China Boosted Crude Oil Storage in December, to Keep Filling
The June storage flows came after global benchmark Brent crude futures fell to their lowest in 2023, hitting $70.12 a barrel on March 20. Given the lag between when cargoes are arranged and physically delivered, it''s clear the China''s refiners snapped up crude when prices were soft in March, with that oil arriving in June.
COLUMN-China boosted crude oil storage in December, to keep
The first half of 2023 saw strong inventory builds, averaging 950,000 bpd, with a peak of 2.1 million bpd in June. The June storage flows came after global benchmark Brent crude futures LCOc1 fell
China''s Oil Storage Levels Are Falling In Early 2021
Crude oil inventories in China have accelerated their decline in recent weeks, Bloomberg reported on Wednesday, quoting data analytics company Kayrros.. At this time last year, Chinese stocks
ANALYSIS: China storage, demand complicate oil market
China''s storage capacity is back around 65%, after briefly breaching the 70% level considered as the maximum in an average crude tank, analysts said. Indeed, China''s crude imports fell by 15.7% year on year to around 9.1 million b/d in December due to reduced purchases from both the independent refineries and the national oil companies, as
China crude flows to storage poised to pick up after half-year lull
China''s crude imports have eased in the second half, most likely as a result of the higher global prices for oil, largely sparked by the decision in late June by OPEC+ leaders Saudi Arabia and
Expanding storage, energy security push to keep China''s crude
Singapore — China''s crude inventories will stay at relatively high levels in 2021 and beyond as market players ship in incremental barrels to take advantage of the fast
Dongjiakou builds China''s largest oil storage facility
The Dongjiakou commercial crude oil storage facility is a key project driving Shandong''s and Qingdao''s pivot from old to new growth drivers. The inauguration of the facility is a significant measure by SPG to leverage its role as a pillar in connecting the eastern and western regions and coordinating the coastal and inland areas, as well as integrating into the Belt and
Overview of Salt Cavern Oil Storage Development and Site
Salt cavern storage, characterized by its safety, stability, large scale, economic viability, and efficiency, stands out as a cost-effective and relatively secure method for large-scale petroleum reserves. This paper provides an overview of the current development status of salt cavern storage technologies both domestically and internationally, analyzes the advantageous
Above-Ground Oil Storage: China Risk Series
At a recent Congressional hearing on this topic, one expert witness informed the committee that increases in China''s crude oil storage utilization rate could serve as a warning signal. How high would inventories have to rise to warrant attention? Historical data provides the necessary perspective. The measurements below, based on radar
Column: China doubled crude oil storage inflows during
A dock worker wearing a face mask to prevent the spread of the coronavirus disease (COVID-19) looks at an oil tanker unloading crude oil at a port in Qingdao, Shandong province, China March 26, 2020.
Building of China''s largest commercial underground oil reserve
Construction of China''s largest commercial underground oil reserve project began in Zhejiang Province on Saturday. It is expected to facilitate the rapid storage, processing and turnover of imported crude oil after completion,
China''s Oil Reserves Are Close to Reaching Storage Capacity
China''s oil stockpiles have risen to around 100 days worth of net imports, making it increasingly challenging to find extra storage tanks and facilities to hold supplies, two
China boosted crude oil storage in December, to keep filling
For 2023 as a whole China added about 760,000 bpd to stockpiles, up slightly from the 740,000 bpd in 2022. China doesn''t disclose the volumes of crude flowing into or out of strategic and commercial stockpiles, but an estimate can be made by deducting the amount of crude processed from the total of crude available from imports and domestic output.
FACTBOX-China''s sites for commercial oil storage | Reuters
China has completed a crude storage farm of about 26 million barrels in Qinzhou in the southern Guangxi region, near a new refinery that PetroChina <0857.HK> has just built, official media
China''s Largest Underground Commercial Oil Reserve Project
Construction of the Daxie underground commercial oil reserve storage project, China''s largest, started on Dec 9. Once operational, the facility is expected to realize rapid storage, processing and digestion of imported crude oil, guaranteeing the country''s stable oil and gas supply. The project includes construction of a 3 million-cubic
China boosts crude oil storage amid soft refinery processing
The overall picture that emerges is that China''s oil import growth is modest so far in 2024 and more of those imports are heading into storage than they did in 2023. — Reuters Clyde Russell is
China boosts crude oil storage amid soft refinery processing:
The pace at which crude oil flowed into China''s stockpiles increased in April as slower refinery processing outweighed a decline in imports. A total of 830,000 barrels per day was added... -May 19, 2024 at 07:00 pm EDT - MarketScreener
FACTBOX-China''s top independent crude oil storage operators,
Private investors in China have increasingly joined state majors in stockpiling crude oil, with companies this year taking advantage of decades-low oil prices and the Chinese economy''s early
Energy strategies of China and their impacts on energy shipping
2.1.2 Oil storage expansions. China has a well-established crude oil storage system (Shanghai International Energy Exchange, 2018). Based on the latest available statistics in 2020, 30% of current crude oil storage is the SPR under government control, while 70% are commercial stocks owned by SOEs and private enterprises (Reuters, 2020a).
China boosted crude oil storage in December, to keep filling tanks
China boosted crude oil storage in December, to keep filling tanks. By Clyde Russell. January 18, 2024 1:00 PM UTC Updated ago Commentary By Clyde Russell. Oil and gas tanks are seen at an oil
China s crude oil storage Introduction
The country has at least 1.39 billion barrels of crude storage capacity as of April, according to Kpler.
As the photovoltaic (PV) industry continues to evolve, advancements in China s crude oil storage have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
6 FAQs about [China s crude oil storage]
What type of oil is being stored in China?
RUSSIAN OIL While China's refiners don't disclose what grade or origin of crude is being added to inventories, it's likely that Russian oil is one of the main types being stored.
Is China still building up crude oil inventories?
But despite the solid gain in refinery processing, it appears that China is still building up crude oil inventories in commercial or strategic storage tanks.
Why did China boost crude oil in December?
REUTERS/Aly Song/File Photo Purchase Licensing Rights LAUNCESTON, Australia, Jan 18 (Reuters) - China boosted the volume of crude oil being stockpiled in December as lower prices encouraged refiners to lift imports and maintain high levels of throughput at their plants.
Should China import crude oil?
If crude oil benchmarks remain around $80 a barrel, then China will most likely be happy to import to meet all its needs. But should crude head above $100 a barrel again, it's likely that some of the oil that has been put in storage tanks will be used, and its also likely that refineries will be restricted from exporting refined products.
Is China still building crude oil stockpiles?
One is that China is continuing to build crude oil stockpiles, even though its refinery processing rates have risen strongly in recent months.
How much crude does China need?
The International Energy Agency, which China isn’t part of, recommends that countries have enough crude to cover at least 90 days of net imports. “In terms of crude stockpiling, we believe China’s goal will not stop at 100 or 120 days of reserves,” said Mia Geng, an analyst at industry consultancy FGE.
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