PetroChina agrees 2019 annual crude supply deals with Saudi Aramco, Kuwait

      Published on Thursday, 8 November , 2018      281 Views     
PetroChina agrees 2019 annual crude supply deals with Saudi Aramco, Kuwait


Chinese oil major PetroChina inked 2019 annual crude supply deals with state-owned producers Saudi Aramco and Kuwait Petroleum Corp on Wednesday



at a public signing ceremony during the China International Import Expo in Shanghai.

Volumes covered by the supply contracts weren’t made public, but a person with knowledge of the terms said Aramco would supply the same volume as in 2018.

Kuwait volumes were expected to be steady with this year’s level, two sources said, while a third expected a slight increase.

Kuwait supplied PetroChina around 66,000 barrels per day on average this year, according to a person with knowledge of the situation.

Companies can top up or trim volumes during the term of a contract if supply and demand changes.

The people with knowledge of the deals declined to be identified because they were not authorized to talk to media.

During the trade fair in Shanghai, Zhenhua Oil, a subsidiary of China’s defense conglomerate Norinco,

is also expected to renew an annual crude oil supply agreement for 2019 with Saudi Aramco, a source told Reuters last week.



Reporting by Aizhu Chen; Writing by Dominique Patton; Editing by Christian Schmollinger and Kenneth Maxwell

Keywords:
Category World | 2018/11/08 latest update at 8:20 PM
Source : Reuters | Photocredit : Google
282 Views
Comments Add comment



Related Articles

The editorial staff of Kuwait Media would like to give all of its readers from Gulf and Kuwait and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Kuwait Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Kuwait, the Gulf and the world.


Armenia new ambassador hands credentials to Emir of Kuwait Emir

Armenia new ambassador hands credentials to Emir of Kuwait

Armenia’s new Ambassador Sarmen Baghdasaryan presented his credentials to the Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.…

Saudi King Sends Message to Kuwait Emir Emir

Saudi King Sends Message to Kuwait Emir

Custodian of the Two Holy Mosques King Salman bin Abdulaziz sent on Tuesday an oral message to Kuwaiti…

Emir Of Kuwait Honours Ministry Of Human Resources And Emiratisation Emir

Emir Of Kuwait Honours Ministry Of Human Resources And Emiratisation

Sheikh Sabah Al Ahmad Al Jaber Al Sabah, Emir of Kuwait, honoured the UAE Ministry of Human Resources and Emiratisation for…

Amiri decree issued to convene National Assembly Emir

Amiri decree issued to convene National Assembly

The Amiri Decree No. 284/2018 has been issued for the National Assembly to convene its third regular session…

GULF TV

Technology

Kuwait lifestyle and lifestyle Kuwait news

Lifestyle

Kuwait lifestyle and lifestyle Kuwait news

Culture

Culture news and Kuwait culture news

Sport

Sport news from Kuwait and world sport news

Events

Kuwait Events and Events News

Government

Kuwait government News

Emir

News from the Emir of Kuwait