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China state oil refiners 'cautious' of new Russian oil as Western sanctions mount over Ukraine invasion

China’s state refiners have stayed on the sidelines in trading fresh Russian cargoes for May loadings after sanctions imposed by the United States and European Union in response to the invasion of Ukraine. ....

China News , Hina Update , China Trade , China Oil , China Russia Relations , Russia Oil , Russia Sanctions , Us Sanctions ,

Sinochem completes China's first blockchain warehouse receipt pledge for crude oil

Sinochem, China’s fourth-largest state-controlled oil company, has carried out the country’s first digital warehouse receipt pledge for crude oil, using 66 Cloud Chain, its blockchain-based supply chain infrastructure. The transaction saw Qingdao Taihe Jiabai Energy, a subsidiary of Shandong Jingbo Petrochemical, receive Rmb40mn (US$6.3mn) in financing from Shandong Port Finance Holding by pledging digital warehouse . ....

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