• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 5 days Does Toyota Know Something That We Don’t?
  • 4 days World could get rid of Putin and Russia but nobody is bold enough
  • 13 hours America should go after China but it should be done in a wise way.
  • 6 days China is using Chinese Names of Cities on their Border with Russia.
  • 8 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 8 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 8 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 7 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 7 days Putin and Xi Bet on the Global South
  • 8 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 8 days United States LNG Exports Reach Third Place
  • 8 days Biden's $2 trillion Plan for Insfrastructure and Jobs
China’s EV Growth Set To Explode in 2024

China’s EV Growth Set To Explode in 2024

China leads the global electric…

Standard Chartered Sees Oversupplied Gas Markets, Tightening Oil

Standard Chartered Sees Oversupplied Gas Markets, Tightening Oil

Whereas physical traders appear increasingly…

Editorial Dept

Editorial Dept

More Info

Premium Content

China's Refinery Bonanza Slows Down

1. Europe Cracks Down on Methane Emissions

- The European Union agreed on a deal to place methane emission limits on Europe’s oil and gas imports from 2030, putting additional regulatory pressure on key suppliers such as the US, Algeria, and Russia.

- Methane is the second-biggest cause of global warming, and despite its relatively short atmospheric lifespan of some 10-12 years, it absorbs much more heat than carbon dioxide.

- Whilst European think tanks anticipate energy suppliers will comply with the 2030 deadline and improve their methane leakage, a continent that relies on imports for 90% of its oil and gas might face further sourcing issues.

- According to the EU methane deal, importers are to receive penalties if they purchase oil or gas from non-European suppliers that do not comply with the emissions limit.

2. China’s Refining Bonanza Slows Down

- Chinese oil refinery throughput rates declined in October after a string of several big month-on-month increases, easing to 15.12 million b/d, some 400,000 b/d lower than in September.

- Easing consumption patterns have impacted refinery runs, with peak demand season for diesel and gasoline coming around the Golden Week national holiday in early October, dropping from then onwards.

- The import quota plight of independent refiners in Shandong province, with most of them well above 90% quota utilization rates, has also adversely impacted throughputs,…

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News