China on Monday started using new standard to measure water content in the imported pipeline crude oil from Russia to better safeguard China’s economic interest, state energy giant — CNPC — said on Monday
Chinese quality inspectors found that the Russian way of measuring the water content showed a much lower quantity in the crude oil than it actually carried, CNPC said
After consultations, the two sides agreed to use the Chinese standard.
China had since 2011 been importing Russian crude oil under a government agreement via the East Siberia Pacific Ocean pipeline that enters China at border town of Mohe.
Russia’s top oil producer — Rosneft — is set to deliver 600,000 barrels per day of ESPO blend to PetroChina, CNPC’s listed arm, this year, up 50 per cent from 2017. (Reuters/NAN)
