PetroChina shows no interest in taking discounted Russian oil, gas
www.spglobal.com/commodityinsights/en/market-insights/latest…
PetroChina’s settlements against the Russian goods were impacted to a certain extent from usual which were settled in US dollar or EURO, due to sanctions and some other factors, Chai said. But generally, the ongoing long-term contracts with Russia are proceeding and operating as usual, Chai add. PetroChina’s parent company CNPC has long-term agreements with Russia’s Rosneft, Transneft, Gazprom and Arctic LNG 2 to import crude oil, natural gas or LNG…
According to the file, the share of revenue derived from Russia-related operations in PetroChina’s total revenue was 4.5% in 2021. With the term deals, CNPC agreed to import 800,000 b/d of pipeline crude from Russia, which is estimated to account for about 40% of China’s total crude inflow from the non-OPEC producer…
Due to the Russia-Ukraine war, spot Russian ESPO’s differential against Dubai has flipped to negative territory since March 4 on FOB Kozmino basis and is assessed at a discount of $23/b on May 6, S&P Global Commodity Insights Platts’ assessment showed. While the discount for a Suezmax cargo of Urals against Dated Brent stay at a deep level of $36.615/b on an FOB Novorossiisk basis May 5.
DB2