August 27, 2009

China Russia Oil Imports Up 37%

Chinese imports of Russian crude oil rose 30% in the 2nd Quarter and were up 37% Year-on-Year to around 347,000 barrels/day.

Meanwhile the East Siberian Oil Pipeline is on schedule with the Skovorodino to Daqing (China's biggest oil refining center in Heilongjiang Province) link expected to go online October 2010. [corrected text:] It is anticipated that the pipeline will have a capacity of 15 million tons of crude oil a year when it is fully operational....

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The pipeline will intersect at the border in Mohe County, Heilongjiang. Mohe is known as China's "north pole" the coldest place in the country with famous auroras at night. A new airport opened there just last year, the northernmost (civil) airport in China. The airport was no doubt to benefit the pipeline effort. Look for this area to experience a boom and perhaps into a lower 'Tier City'. Opportunities for investors, exporters? China Southern flys daily from Beijing to Harbin to Mohe. Chinese press say the pipeline hub is at Xing'An Town.
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