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Unipec resells US oil to India, South Korea after China tariffs   22  

September 06/2019

MOSCOW (MRC) -- China’s Unipec is reselling some of the crude oil it imports from the United States to buyers in India and South Korea to avoid tariffs Beijing imposed in its trade war with the US, reported Reuters with reference to sources.

Unipec, the trading arm of Asia’s top refiner China Petroleum & Chemical Corp, or Sinopec (600028.SS), is China’s main buyer of US crude, but its imports have been disrupted after Beijing placed a 5% tariff on US crude imports from Sept. 1.

The sales to South Korea and India are an “unusual move” for Unipec and directly triggered by the tariffs, the sources said.

More Asian refiners are buying US crude because of tighter supply caused by US sanctions on Iran and Venezuela.

Sinopec declined to comment.

To mitigate losses from the tariffs, the company has also sought waivers from Beijing for its U. crude oil imports in September and October, Reuters reported last month.

Unipec, which usually imports 6 million barrels of US crude such as West Texas Intermediate (WTI) Midland crude to China per month, is reducing imports to around 2 million barrels on average each month for September and October when the tariffs start, one of the sources said.

It initially planned to store more of the oil in bonded tanks, but then moved to re-sell the oil to other US oil buyers in Asia, namely India and South Korea, the person said. It was not immediately clear what led to the change.

“Unipec offered US cargoes that they’ve already purchased to South Korean refiners after the US new tariffs kicked in,” another one of the sources said.

The very large crude carrier (VLCC) Dorra was chartered by Unipec and loaded US crude last August and is now heading to the South Korean port of Yeosu, according to ship tracking data on Refinitiv Eikon. The VLCC is expected to discharge in mid-October.

Another VLCC carrying US crude, the Kirkuk, changed its destination from China’s Shandong port to India’s Sikka on Aug. 31, one day before tariffs kicked in, according to Refinitiv shipping data.

A shipping source said the Kirkuk is carrying WTI Midland crude for Reliance Industries Ltd (RELI.NS) and is expected to arrive at Sikka by the end of September or early October.

The seller of the cargo is not immediately known.

Indian refiner Bharat Petroleum Corp’s (BPCL.NS) head of refineries R. Ramachandran told Reuters that a Chinese trader has offered a cargo of US oil to the refiner after Beijing’s latest tariff hike. But he declined to identify the seller.


mrcplast.com
Author:Margaret Volkova
Tags:crude and gaz condensate, Sinopec, India, China, USA, South Korea.
Category:General News
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  • febhouston 30.10.2019 03:21:39
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  • barybkin alexander 01.10.2020 13:48:01
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  • barybkin alexander 05.10.2020 23:54:38
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  • barybkin alexander 14.10.2020 01:34:40
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    JP 54, D2, and D6 EN590,JET A1 AVAILABLE ON FOB DIP AND TEST IN SELLER TANK<br /> <br /> We Can supply Aviation Kerosene,Jet fuel (JP 54-A1,5), Diesel (Gas Oil) and Fuel Oil D2, D6,ETC in FOB/Rotterdam only, if you want in Rotterdam buyer must own tanks in Rotterdam serious buyer should contact or if you have serious buyers my seller is ready to close this deal fast contact us below:now base email us (<br /> alexandrovichb@inbox.ru)<br /> <br /> PRODUCT AVAILABLE IN ROTTERDAM/ CI DIP AND PAY IN SELLER EX-SHORE TANK.<br /> <br /> Russia D2 50,000-150,000 Metric Tons FOB Rotterdam Port.<br /> <br /> JP54 5000,000 Barrels per Month FOB Rotterdam.<br /> <br /> JA1 Jet Fuel 10,000,000 Barrels FOB Rotterdam.<br /> <br /> D6 Virgin Fuel Oil 800,000,000 Gallon FOB Rotterdam.<br /> <br /> Contact Person:<br /> BARYBKIN ALEXANDER ALEXANDROVICH<br /> GENERAL DIRECTOR<br /> KAYUM NEFT<br /> alexandrovichb@inbox.ru<br /> Whatsapp :+79267741220<br /> English Department<br /> <br /> Best Regards
  • barybkin alexander 20.10.2020 12:47:07
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  • barybkin alexander 28.10.2020 13:58:57
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  • ANDROS1 13.11.2020 14:42:04
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  • Hart12 13.11.2020 15:06:35
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  • Hart120 19.11.2020 11:03:35
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    JP54,D2, D6, JetA1 EN590<br /> Dear Buyer/ Buyer mandate<br /> We currently have Available FOB Rotterdam/Houston for JP54,D2, D6, JetA1 with good and workable procedure, whereby buyer will dip test in seller tank with proof of product.<br /> Kindly Contact us via (llc-globalneftegaz@ bk.ru} for SCO as soon as possible, so we can move to the next step.<br /> <br /> Contact Person:Feliks Andros<br /> Company: LLC GLOBAL NEFTEGAZ<br /> Email: llc-globalneftegaz@ bk.ru<br /> Skype: live:e4aada2885c8c198<br /> Whatsapp:+79032245653<br /> English Department<br /> <br /> Best Regards<br />
  • dugieva rosa mustafovna 28.11.2020 21:07:02
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    JP 54, D2, and D6 EN590,JET A1 AVAILABLE ON FOB DIP AND TEST IN SELLER TANK<br /> We Can supply Aviation Kerosene,Jet fuel (JP 54-A1,5), Diesel (GasOil) and Fuel Oil D2, D6,ETC in FOB/Rotterdam only, if you want inRotterdam buyer must own tanks in Rotterdam serious buyer shouldcontact, Or if you have serious buyers my seller is ready to close thisdeal fast contact us below: now base email us(dugievallc-rakurs@mail.ru) PRODUCT AVAILABLE IN ROTTERDAM/ CI DIP ANDPAY IN SELLER EX-SHORE TANK. Russia D2 50,000-150,000 Metric Tons FOBRotterdam Port. JP54 5000,000 Barrels per Month FOB Rotterdam. JA1 JetFuel 10,000,000 Barrels FOB Rotterdam. D6 Virgin Fuel Oil 800,000,000Gallon FOB Rotterdam.<br /> Contact Person: Dugieva rosa mustafovnaCompany: LLC"RAKURS"Email: dugievallc-rakurs@mail.ruSkype: live: live:.cid.587bf2a71781f6cd Whatsapp: +7-965-345-3833 English DepartmentBest Regards<br /> Dear Sir / Madam,<br /> LLC"RAKURS" Oil is hereby with full legal Authorization wish to informyou on the Refinery vessel loaded with D2, LCO, EN590 10PPM on highsea.We need serious Buyer for the products, Official MOU to the productwill be sent at your immediate response to this request will be highappreciate.<br /> NB: Only Official Buyers / Buyers Mandate are to respond.<br /> Best regards, LLC"RAKURS".WhatsApp: +7-965-345-3833Skype ID: live:.cid.587bf2a71781f6cdEmail: dugievallc-rakurs@mail.ruDIRECTOR / CEO.<br /> <br /> WhatsApp link https://wa.me/79653453833
  • mustafovna 28.11.2020 21:07:46
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    JP54,D2, D6, JetA1 EN590<br /> Dear Buyer/ Buyer mandateWe currently have Available FOB Rotterdam/Houston for JP54,D2, D6,JetA1 with good and workable procedure, whereby buyer will dip test inseller tank with proof of product.Kindly Contact us via (dugievallc-rakurs@mail.ru} for SCO as soon as possible, so we can move to the next step.<br /> Contact Person: Dugieva rosa mustafovnaCompany: LLC"RAKURS"Email: dugievallc-rakurs@mail.ru Whatsapp:+7 965 345 3833 English Department.<br /> WhatsApp link https://wa.me/79653453833

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