GreenergyDaily

Mar. 14, 2025

1. Chinese state oil companies are shying away from Russian oil this month, with two importers halting purchases while two others scaled back volumes as they assess compliance following recent U.S. sanctions on Moscow, Reuters reported today, citing multiple trade sources.

2. While Russian shipments to Asian buyers, including China and India, have rebounded after more non-sanctioned tankers joined the trade, China's state-run Sinopec and Zhenhua Oil halted purchases of March-loading Russian oil due to concerns over dealing with the sanctioned firms, sources with knowledge of the matter said.

3. A Beijing-based state oil source said his company ceased Russian oil deals as it undertakes more compliance checks and waits for a "clear picture" on a possible Russia-U.S. deal to end the Ukraine war.

4. PetroChina, a longstanding ESPO buyer from top Russian producer Rosneft, however, continued with seaborne purchases in March but at lower volumes, two of the sources said.

5. CNOOC, which regularly buys and trades Russian oil, has also cut back on March-loading volumes, traders said.