China’s Top Oil Refiners Seek State Aid to Keep Russia Flows
- State refiners worried about paying, insuring Russian cargoes
- Solutions floated include pipeline, separate banking entity
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China’s largest oil companies are seeking help from Beijing to keep Russian imports flowing after new sanctions on Moscow that are set to kick in next month.
State-owned oil refiners are worried about their ability to work out the payment channels, logistics and insurance needed to keep buying from the OPEC+ producer after Dec. 5, said people with knowledge of the matter, who asked not to be identified as the information isn’t public.