China’s state-owned Sinopec is increasing its purchases of Russian ESPO (East Siberia–Pacific Ocean) crude oil as it seeks to compensate for reduced supplies from the Middle East, according to Reuters-linked reporting cited by both outlets and supported by trade sources and ship-tracking data. The change reflects disruptions to Middle East logistics and supply availability amid geopolitical tensions. Trading and tracking information indicates Sinopec has contracted for roughly 30 to 40 cargoes of ESPO crude for the July to September 2026 period. Reported daily import volumes fall within a range of about 241,000 to 320,000 barrels. The additional ESPO intake is described as a relatively small portion of Sinopec’s overall refining footprint. Sources estimate Sinopec refining capacity at around 5.2 million barrels per day, meaning the reported ESPO volumes correspond to approximately 5% to 6% of total capacity. Both reports characterize the move as an effort to rebalance supply rather than a shift in refining strategy.
Sinopec increases Russian ESPO crude imports to offset reduced Middle East supplies
China’s state-owned Sinopec is increasing its purchases of Russian ESPO (East Siberia–Pacific Ocean) crude oil as it seeks to compensate for reduced supplies from the Middle East, according to Reuters...
- Sinopec increases imports of Russian ESPO crude.
- The stated reason is reduced or disrupted Middle East crude supply.
- Trade sources and ship-tracking data are cited as evidence for the increased purchases.
- Sinopec contracts for about 30–40 ESPO cargoes for July–September 2026.
- The reported daily import range is roughly 241,000–320,000 barrels, estimated at about 5%–6% of Sinopec’s ~5.2 million bpd refining capacity.
China's state-owned petrochemical corporation Sinopec is increasing imports of Russian ESPO (East Siberia—Pacific Ocean) crude oil. According to Reuters, the shift is driven by the need to compensate for declining supplies from the Middle East, where geopolitical tensions have disrupted logistics chains. Supply Volume and Capacity Impact Trading sources report that Sinopec contracted between 30 and 40 cargoes of ESPO crude for the period from July to September 2026. Daily import volumes range from 241,000 to 320,000 barrels. These figures represent approximately 5% to 6% of Sinopec's total refining capacity, which is estimated at 5.2 million barrels per day.
1 day agoBy Chen Aizhu, Siyi Liu and Trixie YapSINGAPORE, Aug 6 (Reuters) - China's state-owned Sinopec Corp, the world's biggest refiner, has ramped up purchases of Far East Russian oil to compensate for Middle East supplies diminished by the Iran war, according to multiple trade sources and ship tracking data.
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