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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Imports of feedstocks into Shandong Province or Tianjin City by China’s independent refineries totalled 10.53m mt in August, down 4.9% on the month, according to OilChem.
- Within that total, crude oil arrivals stood at 7.71m mt, down 7.21% on the month, while bitumen mixtures were 1.54m mt, almost double July’s volumes.
- Fuel oil arrivals saw a steep fall to around 1m mt, down 27.68% from July levels.
- Malaysia and Russia were the two major suppliers to independent refineries in Shandong. However, often Iranian barrels are reexported via Malaysia to conceal their origin due to sanctions.
- Feedstock arrivals are expected to rebound, according to OilChem. This is due to improving CDU utilisation rates at refineries. The sustainability of this also depends on the fourth batch of import quotas.
Source: OilChem
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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