China Imports First U.S. Crude since November

Friday, March 1, 2019

An oil tanker carrying U.S. crude oil is offloading its cargo at a Chinese port on Friday, marking China's first import from the United States since late November, according to trade sources and Refinitiv data.

Trade tensions between the United States and China cut U.S. oil exports to Asia to a trickle in the second half of last year. No U.S. crude volumes were recording going into China October, December and January, according to China customs.

The Kara Sea, an Aframax tanker capable of carrying up to 600,000 barrels of oil, is discharging its cargo of Eagle Ford crude at China's eastern port of Qingdao, the data showed.

Eagle Ford is a light crude produced from shale formations.

The cargo had been transferred to the Kara Sea from supertanker Olympic Luck, which had U.S. crude including Eagle Ford onboard, Refinitiv analyst Emma Li said.

BP chartered Kara Sea, and the receiver of the oil is Hongrun Petrochemical, an independent refiner in Shandong province, she said.

Hongrun declined to comment. BP did not immediately respond to a request for comment.

The cargo discharging on Friday will likely be credited to February by China customs.

Reporting by Florence Tan

Categories: Tankers Ports Shale Oil & Gas

Related Stories

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Wood JV Gets EPC Job for Shell off Brunei

CNOOC Starts Production at Offshore Field in South China Sea

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com