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Energy

China's PetroChina, Sinopec mum on Russian oil imports

Crude imports increase, but buyers are reluctant to speak up

China's imports of Russian crude increased 25% in the first seven months of the year.     © Reuters

HONG KONG -- China has greatly expanded imports of discounted Russian crude oil since Moscow's invasion of Ukraine fueled Western sanctions, but the country's oil majors have been hesitant to talk about any role they might have in the purchases.

The latest Chinese customs data shows the country imported 8.06 million tonnes of crude oil from Russia in July, up 13% on the year. During the first seven months of 2023, total oil imports from Russia increased 25% on the year to 60.66 million tonnes.

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