Oil & Gas Refining
Sources say that the supply of Saudi crude oil to China will decline in July.
Saudi Arabian crude oil supplies to China are expected to drop slightly in July. However, they will still be strong for a 3rd consecutive month, as the OPEC kingpin regains market share by supplying the top crude importer of the world. A tally of the allocations made to Chinese refiners revealed that Saudi Aramco, the state oil company, will ship around 47 million barrels in July. This is 1 million barrels below June's allocated volume. Sources say that state refiners Sinopec and PetroChina, as well as Aramco's joint-venture Fujian refinery, will receive more crude in July. However, independent refiners Rongsheng...