Independent refineries in China can start choosing quotas for crude oil imports right now, but factories do not want to do this because demand for petroleum products has fallen
PetroChina will own the largest stake in West Qurna-1 after Exxon leaves.
The Chinese company China Export and Credit Insurance Corporation may invest $1.5 billion in the construction of the East African Oil Pipeline (EACOP) in the first quarter of next year.
China Petrochemical Corporation is investing $1.5 billion in the construction of an oil refinery in the Sri Lankan port of Hambantota.
China wants to deepen cooperation in the oil and gas industry with the countries of the Persian Gulf and look for potential for cooperation in new energy sectors. This is reported by Reuters.