China’s largest refiner secures 241,000-320,000 bpd of Russian ESPO crude amid Middle East shipping disruptions.
Sinopec has increased purchases of Russia’s ESPO crude blend for third-quarter delivery, booking 30-40 shipments totaling 241,000 to 320,000 barrels per day. The move aims to ensure stable crude arrivals as Middle East shipping constraints persist, according to trade sources and vessel-tracking data.
The refiner, the world’s largest by capacity, typically sources crude from diverse regions but has turned to Russian supplies amid geopolitical tensions and logistical challenges. ESPO crude, loaded from Russia’s Far East, offers a reliable alternative as traditional routes face disruptions.
No immediate market reaction was reported, but the shift underscores China’s strategic adjustments in energy procurement amid global supply chain uncertainties.