#Russian #oil cargo #ships go dark. Who is buying? | #Digging to China.

Reuters reported that China's state refiners are honoring existing Russian oil contracts but avoiding new ones despite steep discounts. People will full knowledge of the matter but spoke on condition of anonymity said that, state-run Sinopec, CNOOC, PetroChina, and Sinochem have stayed on the sidelines in trading fresh Russian cargoes for May loadings. China is the top buyer of Russian crude at 1.6 million barrels per day, half of which is supplied via pipelines under government-to-government contracts. After Washington banned Russian oil last month, and the European Union slapped sanctions on top Russian exporter Rosneft and Gazprom Neft, Chinese state-owned firms do not wish to be seen as openly supporting Moscow by buying extra volumes of oil. One of the source said, state owned enterprises are cautious as their actions could be seen as representing the Chinese government and none of them wants to be singled out as a buyer of Russian oil. Connect with me: Email: [email protected] Twitter:   / digging2c   Parler: https://parler.com/profile/DonXiang/p... Telegram Channel: https://t.me/DC2021303 Telegram Group: https://t.me/DC2021301 To subscribe: https://bit.ly/3pxKgoR