[2024-03-20] China’s Rongsheng buys US and Brazilian crude for June delivery

Source: Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao)

Chinese refiner Rongsheng Petrochemical has bought at least 4 million barrels of crude oil from the US and Brazil through a tender for delivery in June, trade sources said on March 14.

The company bought 2 million barrels of Brazilian Tupi and Atapu crude from Petrobras and the same amount of US Mars crude from ExxonMobil, they said.

It was not immediately clear whether Rongsheng had bid for more cargoes in the tender, the sources said.

Last month, Rongsheng bought 2 million barrels of Khafji and 2 million barrels of Angola’s Mondo and Hungo grades through its monthly tender.