立即注册,

不到 60 秒您即可继续访问:最新资讯提要分析主题和专题大宗商品视频、播客和博客样本市场价格和数据专题报道订阅用户通知和每日大宗商品电子邮件提醒

已有帐户?

登录以注册

忘记密码

请注意:Platts Market Center 订阅用户只能通过 Platts Market Center 重置密码

请在下面输入您的电子邮件 ID,我们将给您发送一封包含您密码的电子邮件。


  • 电子邮件地址* 请输入电子邮件地址。

如果您是高级订阅用户,出于安全原因,我们无法向您发送您的密码。请联系客服团队

如果您是 Platts Market Center 订阅用户,若要重置密码,请转到 Platts Market Center 重置您的密码。

在此列表中
煤炭 | 液化天然气 (LNG) | 天然气 | 石油 | 石化产品

China to receive its first US crude cargo in six months by mid-May

液化天然气 (LNG) | 天然气凝液 (NGL)

Platts LP Gaswire

Bunker Fuel | 石油 | 原油 | 液化石油气 (LPG) | 石油风险 | 成品油 | 燃料油 | 汽油 | 航油 | 石脑油

appec

金属 | 有色金属

在关税取消后,铝行业等待美国贸易代表办公室澄清进口水平

China to receive its first US crude cargo in six months by mid-May

亮点

First arrival to be ANS

To see higher US crude shipments in July

Hard to meet trade deal amid low oil prices

Singapore — China's independent refineries will receive the country's first US crude oil cargo since December 2019 in mid-May in line with its trade pact to buy an additional $18.5 billion of energy goods from the US on top of 2017 volumes, market sources and trade flow trackers showed.

尚未注册?

接收每日电子邮件提醒、订阅用户通知并获得个性化体验。

立即注册

The expected arrival in May was within expectation as a few refineries returned to the market for US crudes in March when the Chinese government began accepting applications for tariff exemption on US crude.

"May is just a start, arrivals will gradually go up in June, and more will come in July," a Shandong-based independent refiner said.

The first delivery will be a cargo of about 1.3 million barrels of US crude, which was loaded into Alaskan Nevigator and departed from Valdez on April 25, S&P Global Platts' trade flow tracker cFlow showed.

The cargo is expected to arrive at Dongjiakou Port in Eastern China Shandong province on around May 12, according to cFlow.

"The cargo is Alaska North Slope, chartered by BP and private Shenchi Petrochemical is one of the buyers," a source with knowledge of the matter said.

A second source with knowledge about the matter said independent Luqing Petrochemical is the other buyer of the ANS cargo.

ANS crude, which has a typical API gravity of 32 degrees and sulfur content of 1.5%, is mainly purchased by US West Coast refineries and moved via Aframax from Valdez, Alaska, to facilities in Washington and California.

Meanwhile, another trade tracker Kpler showed a VLCC Adventure loaded and departed from the LOOP in US on April 1 and set to arrive at the destination Qingdao port in Shandong province on May 24.

The cargo was chartered by Equinor, according to Kpler.

Further information about the cargo loaded in the LOOP is not immediately available.

In March, Chinese independent refiners took at least two cargoes of US sour crude grade Mars at a discount of $8-$9/b to ICE Brent for July delivery into China, refining sources said.

State-owned companies Unipec and PetroChina became more active in taking US crude in April when crude prices were depressed amid weak demand and oversupply due to the coronavirus epidemic.

UNLIKELY TO BE HEAVY ENOUGH

The plunge in oil prices makes it difficult for China to meet the Phase One of the China-US trade deal.

"The volume from US was unlikely to be heavy enough, a Shanghai-based crude oil trader said, "because cheap crudes are everywhere, not just US crudes which are quite light to most of the Chinese refineries."

The Ministry of Finance also said earlier that tariff exemptions would only be granted for purchases that are economically and commercially viable, indicating that US commodity imports would still be subject to market restrictions.

China has committed to buy $18.5 billion more of US energy products in 2020, over what it bought in 2017, and $33.9 billion more in 2021, over 2017 levels, with expectations of similar levels through 2025.

The deal covers crude oil, LNG, refined products and coal, of which crude oil and LNG are expected to comprise the bulk of the purchases as they are the most traded and have the largest market in China.

China in 2017 bought about 153,000 b/d of US crude oil that was worth $3.2 billion at an average price of $57.59/b, data from the General Administration of Customs showed.

In 2020, assuming an average oil price of $30/b since China resumed buying in March, China will have to buy 2 million b/d of crude oil to run up a bill of $22 billion, according to Platts calculations.

In comparison, China's top crude oil supplier Saudi Arabia delivered 1.77 million b/d of shipment in Q1, GAC data showed.

China's US crude oil imports hit a record high in 2018 at about 247,000 b/d before falling to 128,000 b/d in 2019 amid the ongoing trade dispute.