{"id":1370568,"date":"2026-03-17T17:04:54","date_gmt":"2026-03-17T15:04:54","guid":{"rendered":"https:\/\/prm.ua\/china-is-preparing-to-resume-purchases-of-russian-oil-media\/"},"modified":"2026-03-17T17:04:54","modified_gmt":"2026-03-17T15:04:54","slug":"china-is-preparing-to-resume-purchases-of-russian-oil-media","status":"publish","type":"post","link":"https:\/\/prm.ua\/en\/china-is-preparing-to-resume-purchases-of-russian-oil-media\/","title":{"rendered":"China is preparing to resume purchases of Russian oil \u2013 media"},"content":{"rendered":"

Chinese<\/span> state-owned<\/span> oil<\/span> companies<\/span> are preparing<\/span> to resume<\/span> purchases of<\/span> Russian<\/span> oil<\/span> after<\/span> a four-month<\/span> pause,<\/span> taking advantage of<\/span> a temporary<\/span> easing<\/span> of US sanctions<\/span> .<\/span><\/strong><\/p>\n

<\/p>\n

Reuters<\/span><\/a> reports<\/span> this<\/span> .<\/span><\/p>\n

<\/p>\n

The agency<\/span> said<\/span> units<\/span> of<\/span> Sinopec<\/span> and<\/span> PetroChina<\/span> reached out<\/span> to<\/span> suppliers<\/span> this<\/span> week<\/span> to<\/span> discuss<\/span> possible<\/span> deals,<\/span> which<\/span> if<\/span> implemented<\/span> would be<\/span> the<\/span> first<\/span> contracts<\/span> since<\/span> November.<\/span><\/p>\n

<\/p>\n

No<\/span> deals<\/span> have<\/span> been signed yet<\/span> ,<\/span> but<\/span> Reuters<\/span> sources<\/span> expect<\/span> that<\/span> agreements<\/span> could<\/span> be reached<\/span> soon<\/span> .<\/span><\/p>\n

<\/p>\n

Chinese<\/span> companies<\/span> are seeking<\/span> to avoid<\/span> a shortage of<\/span> raw materials<\/span> amid<\/span> the<\/span> worsening<\/span> situation<\/span> in<\/span> the Middle<\/span> East.<\/span> At the same time,<\/span> Russian<\/span> oil<\/span> remains<\/span> cheaper<\/span> than<\/span> alternative<\/span> supplies<\/span> from<\/span> Brazil<\/span> and<\/span> West<\/span> Africa.<\/span><\/p>\n

<\/p>\n

According<\/span> to<\/span> one<\/span> trader<\/span> ,<\/span> companies<\/span> are assessing<\/span> payment<\/span> and<\/span> logistics<\/span> options<\/span> within<\/span> the<\/span> 30-<\/span> day<\/span> sanctions<\/span> relief<\/span> period<\/span> that<\/span> started<\/span> on March 12<\/span> .<\/span><\/p>\n

<\/p>\n

Sources<\/span> also<\/span> do<\/span> not<\/span> rule out<\/span> that<\/span> major<\/span> players<\/span> may<\/span> buy<\/span> Russian<\/span> oil<\/span> through<\/span> intermediaries –<\/span> independent<\/span> Chinese<\/span> refineries<\/span> or<\/span> traders.<\/span><\/p>\n

<\/p>\n

“<\/span> Some<\/span> independent<\/span> refiners<\/span> are ready<\/span> to resell<\/span> oil,<\/span> because<\/span> it<\/span> brings<\/span> them<\/span> more<\/span> profit<\/span> than<\/span> refining,”<\/span> the agency’s interlocutor<\/span> noted<\/span> .<\/span><\/p>\n

<\/p>\n

In particular,<\/span> the Russian<\/span> ESPO<\/span> blend<\/span> for<\/span> delivery<\/span> in late<\/span> April<\/span> is offered<\/span> at<\/span> a premium<\/span> of about<\/span> $<\/span> 8<\/span> per<\/span> barrel<\/span> to<\/span> Brent,<\/span> while<\/span> the Brazilian<\/span> Tupi<\/span> variety<\/span> is priced<\/span> at<\/span> a premium<\/span> of<\/span> $<\/span> 12-15<\/span> .<\/span><\/p>\n

<\/p>\n

It was previously reported that the US eased sanctions for 30 days and allowed the purchase of Russian oil and petroleum products that are already transported by sea.<\/a><\/p>\n

<\/p>\n

As a reminder, global oil prices have exceeded $100 per barrel<\/a> amid the worsening situation in the Middle East. This happened for the first time since 2022, and investors are taking into account the risks of prolonged disruptions in energy supplies.<\/p>\n

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Also follow \u201cPryamim\u201d<\/strong> on Facebook<\/a> , X<\/a> , Telegram<\/a> , and Instagram.<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Chinese state-owned oil companies are preparing to resume purchases of Russian oil after a four-month pause, taking advantage of a temporary easing of US sanctions . Reuters reports this . The agency said units of Sinopec and PetroChina reached out to suppliers this week to discuss possible deals, which if implemented would be the first […]<\/p>\n","protected":false},"author":66,"featured_media":1312411,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[76870,76871,76872,76892],"class_list":["post-1370568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","category-news-2","category-news-feed","category-economy"],"_links":{"self":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1370568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/comments?post=1370568"}],"version-history":[{"count":0,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1370568\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/media\/1312411"}],"wp:attachment":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/media?parent=1370568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/categories?post=1370568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}