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☆ China boosts imports of fuel oil blended from Russian barrels
  + stars: | 2023-02-03 | by ( Chen Aizhu Jeslyn Lerh | Chen Aizhu | Jeslyn Lerh | ) www.reuters.com   time to read: +5 min
The trade also provides a way to get Russian oil to market and bring much-needed export earnings to Moscow. "We've been looking at Russian fuel oil since December. China's total fuel oil imports surged to about 1.76 million tonnes in December, highest since September 2021, official customs data showed. Fuel oil imports from blending hubs trend higher"The deep discounts offered are driving the trend as independent refiners are price sensitive. Asia will continue to soak up cheaper Russian (fuel oil) barrels on top of crude," Jamil said.
☆ APPEC: Vitol expects Russian oil to flow to Asia and Mideast
  + stars: | 2022-09-26 | by ( Chen Aizhu Jeslyn Lerh | Chen Aizhu | Jeslyn Lerh | ) www.reuters.com   time to read: +3 min
SINGAPORE, Sept 26 (Reuters) - Russian oil is expected to come to Asia and the Middle East, while refined fuel produced in these regions will flow to the West as the global oil trade is disrupted by sanctions, Vitol's Chief Executive Officer Russell Hardy said on Monday. The Russia-Ukraine war has made energy security the top issues for governments as they grapple with inflation, and with bans on Russian oil looming and Moscow slashing gas supplies to Europe, policymakers are setting aside sustainability concerns for now. The EU is set to ban Russian crude oil from December in a move to strip the Kremlin of revenue, following Moscow's invasion of Ukraine. Russian crude oil imports into the EU and UK last fell to 1.7 million barrels per day (bpd) in August from 2.6 million bpd in January, according to data from the IEA, though the EU was still the biggest market for Russian crude. Global gas prices rose to record levels this year, as Russia cut supplies to Europe while oil prices touched multi-year highs in March.
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