Saudi Arabia bypassed Russia on oil supplies to China

Oil exports from KSA to China in June increased by 15 percent compared to the same period in 2019.

According to the Chinese customs authorities, the export of Saudi oil to China in June rose to 8,88 million tons, or 2,16 million barrels per day.

These record imports follow the end of the oil conflict between Russia and Saudi Arabia, OPEC's largest exporters.

Russian oil supplies to China in the previous month were less than that of the Saudis. They amounted to 7,98 million tons, or 1,95 million barrels per day, which is seven percent higher than in the same month last year.

Russia is doing much better with the supply of liquefied natural gas to China. As reported by Bloomberg, the Russian Federation in June overtook the United States in LNG supplies to the PRC, supplying 396 tons versus 340 tons of American ones. At the same time, for the same period in 2019, LNG exports from Russia to China were six times less - only 67 thousand tons.

But according to this indicator, both the United States and the Russian Federation are still very far from Indonesia, which in June sent 988 thousand tons of liquefied gas to the PRC.

Comments

[Maz]

China is still not easy for the US to buy

[NIKN]

What is this? Will we raise the prices for gasoline again? (sarcasm)

[Piramidon]

Quote: NIKNN

What is this? Will we raise the prices for gasoline again? (sarcasm)

Nikolay, well, you seem to have just been born. When did our gasoline prices depend on world oil prices? The prices for the "barrel" went up and down, but the price tags at our gas stations always only went up.

[NIKN]

Quote: Piramidon

When did our gasoline prices depend on world oil prices?

Our gasoline prices depend on officials, and officials only need an excuse. I wrote that sarcasm, i.e. there is no point in discussing this seriously from an economic point of view.

[Piramidon]

Quote: NIKNN

Our gasoline prices depend on officials, and officials only need an excuse.

The whole problem is that everything is at the mercy of private traders. Production, processing, and sale. Officials only cut their bribes from them. Well, this has always been the case, even in Soviet times, officials did not miss their gesheft.

[Civil]

Let's finish building Nord Stream 2 and heal. We will smear the oil directly on the sausage.

[infobikom-rostov.ru]

Is that what you decided? Maybe someone will. But ordinary people will get only bread crumbs from this pie.

[smart ass]

We urgently need to send unknown drones)

[The leader of the Redskins]

I wonder how this will be presented victory are our agitators on the central media or will they just pretend that nothing happened?

[BARKAS]

Only this is not so much the merit of the Saudis as the consequences of US policy.

[mole]

Rather, the merit by the hands of the drivers of Rosneft and the Ministry of Fuel.
Under their sensitive and wise guidance, the sales markets are shrinking. As well as in other industries with other characters.
Three months ago there was a hurray for an article about increasing oil supplies to China. With a profit minus $ 8 a barrel. Where are the dividends from this increase now?
Solid spectacle.

[voyaka uh]

Liquefied natural gas is the future. It's good that Russia is involved in these technologies

[APASUS]

Quote: voyaka uh

Liquefied natural gas is the future. It's good that Russia is involved in these technologies

I switched on too late, now all markets are occupied and I have to knock out my place in the market

[Incomprehensible]

Quote: voyaka uh

Liquefied natural gas is the future.

"Liquefied" is an extra word in your publication. Sang along with American sanctions. IMHO

[voyaka uh]

This is not the point. It is convenient to store the liquid and keep it in reserve. Unlike gas from a gas pipeline. The buyers got it. And they are even ready to overpay, but have liquid gas "just in case."
Now Comrade Miller from Gazprom needs to understand this.

[forty-eighth]

Quote: voyaka uh

This is not the point. It is convenient to store the liquid and keep it in reserve. Unlike gas from a gas pipeline. The buyers got it. And they are even ready to overpay, but have liquid gas "just in case."
Now Comrade Miller from Gazprom needs to understand this.

Our LNG niche is occupied by Novatek. Everything is quite optimistic there: several factories in the region of the Gulf of Ob, a large-scale production center in Murmansk, LNG tankers have been ordered in Russia and Korea. We seem to have time to merge into this story.

[mark2]

Dear author, What did you have in mathematics at school? 1 ton is 7 barrels. This means 33 million tons is 7,98 million barrels. This is how false ideas are created about the effectiveness of Western economies and the inefficiency of the Russian one.
Even if we assume that the numbers were mixed up, then 7,98 / 7,33 does not give 1,95

[Sacrifus]

What did you have in math at school? 58.49 million barrels / 30 days in June, how many barrels per day?

[mark2]

Exactly. I didn't even notice the elephant. I sprinkle ashes on my head. I confess. And minus for rudeness

[Whirlwind]

If the United States grapples with the PRC, and so far everything is going, our oil and gas supplies to China will remain stable, which cannot be said about supplies from Saudi and Indonesia. China understands this. The United States also understands this. Therefore, they have their own interest in the Khabarovsk events ...

[Roman123567]

Somehow in the spring, as I recall, more rosy forecasts were pouring in from "experts".
that we are now taking everything and everywhere on the market ..

[Lumumbo]

Well, the Saudis came out on top and the flag is in their hands .. The main thing is this fuss with the decline is over .. Russia has not been brought to its knees .. That's the main thing!

[Tommy green]

Why, when such articles are written, there is never an explanation. These coasters come under contracts when the Saudis were doing price dumping. And they sold oil for next to nothing. They themselves are not happy to fulfill these contracts now. And no one wants to see, with the current price of oil, which the Saudis set out on obligations after the OPEC ++ agreement, how they buy this oil? That it barely sells at all. In September the situation will be completely different. But they will already be silent about this. After all, it turns out that everything is absolutely the opposite than what is written here in the article

[TermNachTer]

If this superiority is achieved at the expense of a significant price reduction, what is the benefit for the Saudis?

[Gennady Fomkin]

Indonesia, I haven't heard of such a gas giant. According to analysis by Rystad Energy, oil and gas production in Indonesia in 2020 is likely to decline, despite the official forecast that the productivity gain should be 8%. Indonesia's Special Oil and Gas Working Group SKK Migas has set an ambitious target for 2020 oil and gas production of 755,000 barrels per day. If the goal is achieved, the growth in production volumes compared to the previous year will amount to 1.2%.


In 2019, production was 746,000 barrels per day.

At the same time, experts from Rystad Energy indicate that in 2020 the volume of oil and gas production in Indonesia will amount to 718,000 barrels per day.

Productivity in old fields is expected to decrease by 38,000 barrels per day and to increase by 10,000 barrels per day in new fields.

OPEC. Oil market balance from February 12, 2020

More details at Oil-Expert:
https://www.oilexp.ru/news/world/dobycha-nefti-i-gaza-v-indonezii-sokratitsya-vopreki-oficialnym-prognozam/199764/