OIL

China doubles railway crude imports

CHINA doubled the amount of crude oil it imported by train last year, bringing in some 7.95 million tonnes, according to the Chinese Ministry of Railways.

China doubles railway crude imports

In order to further increase imports via rail, local media said the ministry and Russian Railways signed a summary of negotiations for further cooperation last November, with both sides agreeing to work together to create more border checkpoints.

Under the agreement, China will also use the railways to export 10 million tonnes of crude oil to Russia this year, with an increase to 15 million tonnes planned for next year.

Asia Pulse said in the meantime, the Chinese ministry also signed another agreement concerning cooperation in railway transport with the departments of transportation and telecommunications of Kazakhstan, which borders China in the Xinjiang Uygur Autonomous Region.

Analysts say Asia's energy-hungry giants, China and India, are increasingly competing for supplies and driving up prices for crude oil and other energy commodities.

TransportIndustryNews.net

TOPICS:

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB CCS Report 2024

ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry