Sentences with phrase «yuan oil»

But on this occasion they were protesting against a local government plan to build a 55.9 - billion - yuan oil refining and petrochemical complex in the city's outskirts.

Russia is off the petro - dollar and quite married to China now and the Silk Road Dedollarized Zone is now underway as is the the soon to be launched Yuan Oil Benchmark fully exchangeable for physical gold.

While the official goal of the new futures contract is to establish a regional benchmark for more useful pricing of the crude grades prevalent on the Chinese market, analysts see the yuan oil futures as a step toward China seeking wider acceptance of its currency in global trade, including the oil trade, and establishing a petro - yuan that could challenge, in the future, the dominance of the petrodollar.

Not exact matches

Interestingly, part of Russia's success in China has been attributed to its willingness to accept Chinese yuan denominated currency for its oil.

The plan is to launch an oil futures contract on the Shanghai International Energy Exchange (INE), but there are obstacles in convincing large oil producers and consumers in using the yuan and investing in the Shanghai benchmark.

An oil futures market based in yuan will stimulate demand for the Chinese currency, which China believes will lend it strategic clout.

To that end, reports indicate that China is set to introduce an oil benchmark priced in yuan in the coming months.

China is taking its first steps towards paying for imported crude oil in yuan instead of the U.S. dollar, three people with knowledge of the matter told Reuters.

Oil and gas sales rose 16 per cent to 110.8 billion yuan, more than offsetting higher operating costs.

The Shanghai oil futures contract is similarly designed to wrest some control over pricing from the main benchmarks in New York and London — West Texas Intermediate (WTI) and Brent — and to promote the use of the yuan, also known as the renminbi.

Priced in yuan and traded on the Shanghai International Energy Exchange, it's the first such Asian benchmark for oil deals.

That just puts the price of oil that much farther out of U.S. motorists» reach, while a soaring Yuan would give China's motorists a big currency - adjusted discount at their pumps.

China has become the world's largest oil importer, and despite establishing the largely successful yuan - denominated oil futures, Beijing will have to grapple with an overlooked geopolitical and economic consequence as Continue Reading

Although there is no indication yet that Aramco would want yuan for its oil, the Saudis said a couple of weeks ago that they would be willing to consider issuing yuan - denominated bonds, in what could be a break from the practice to issue debt only in U.S. dollars.

It could also increase Beijing's bargaining power to convince Aramco to accept yuan payments for its oil instead of U.S. dollars, as China is trying to make its currency a global one.

China's ultimate goal is to convince Saudi Arabia — one of China's top - three oil suppliers — to take yuan in exchange for oil, and thus to abandon the 45 - year link of Saudi oil to the petro - dollar.

China has begun trading for oil in yuan, recently launching its so - called «petro - yuan.»

Local media have reported that China could launch a crude oil futures contract priced in yuan as early as Jan. 18, although analysts and industry executives who spoke to Breakingviews believe a later start is more likely.

Global shares tumbled for a sixth day on Thursday and oil prices slid to levels not seen since the early 2000s, after China guided the yuan lower and Shanghai shares tumbled 7 % in less than half an hour.

China finally launched last month its yuan - denominated crude oil futures that have been in the works for years, after several delays.

Russian oil producers to make money from China's yuan - backed crude futures — analysts Kozmino, an oil - loading sea port in Primorsky Region, the terminal point of the Eastern Siberia — Pacific...

On the political front, «Denominating oil contracts in yuan would promote the use of China's currency in global trade, one of the country's key long - term goals as an alternative to the dollar — making this even more appealing to sanctions - threatened countries relying on the dollar,» Ramady wrote in The National.

They take the Yuan the Chinese pay them for oil and then turn around and buy it on the Shanghai Exchange.

The world's first yuan - denominated oil contracts launched today, as part of China's drive to turn its currency into a global force in markets.

BEIJING (AP)-- A Chinese investment holding company said it has signed a letter of intent to purchase oil fields in Texas for 8.3 billion yuan ($ 1.3 billion) through a limited liability partnership.

Hayden Briscoe, Head of Fixed Income, Asia Pacific, at UBS Asset Management, said in a report just before the Chinese futures launched that «We believe that in the long term this will change how oil is traded globally, create a petro - yuan currency flow, increase the role of the RMB [renminbi — Ed.]

There was also a fair amount of bad news baked into the price of stocks at the beginning of 2016 that never materialized (a U.S. recession, Chinese yuan devaluation and crash in oil prices, for instance).

After Monday's launch of the yuan - backed oil futures in Shanghai, there have been negotiation between Russia and China on mutual promotion of oil futures in national currencies, RIA Novosti reported.

China has launched oil futures backed by yuan, and Beijing has what Gaddafi didn't, according to the expert.

It's been reported that China has even approached Saudi Arabia about yuan - based oil sales — a direct threat to the decades - long monopoly of the U.S. petrodollar.

Recent stabilization in dollar valuation, yuan exchange rate, as well as prices of crude oil should ease some concerns on the inflation front.

The Chinese with their nose know we talked about before when they first announced it about three months ago that they were doing the Yuan - gold - oil interest in arbitrage that helped play it.

A possible game changer is the Petro - yuan, the Chinese government's plans to start a crude oil futures contract priced in yuan and convertible into gold.

As the yuan progressively reaches full consolidation in trade settlement, the petro - yuan threat to the US dollar, inscribed in a complex, long - term process, will disseminate the Holy Grail: crude oil futures contracts priced in yuan fully convertible into gold...

It marks the first time overseas investors have been able to access a Chinese commodity market — an oil futures contract — that can be settled, not only with U.S. dollars, but also Chinese Yuan, eventually a basket of currencies... and gold.

They listen to the «experts» and pay attention to big changes, like the Chinese yuan - for - oil event we're discussing here.

This artificially low price has cost the largest oil refinery company in the country — and third largest in the world — Sinopec more than 20 billion yuan this year.

The Shanghai International Energy Exchange is launching a crude - oil futures contract that's denominated in Yuan.

News # 1: China might be just days away from launching its Yuan - denominated oil futures on the Shanghai exchange.

[While we're at it: a) I suspect the strength of the dollar & yuan will add (smaller) pluses and minuses to the P&L, while b) the lower oil price may add a second tailwind for OnePlastics in 2015, but larger customers & competitors will probably ensure much of this benefit gets passed along eventually].

Though he was initially trained as an oil painter, Deng Guo Yuan also began creating sculptures and installations that both pay respect to traditions in Chinese art and incorporate elements of Western aesthetics.

Cai Yuan trained in oil painting at Nanjing College of Art, Chelsea College of Art and the Royal College of Art.

Artists Sun Yuan (b. 1972 in Beijing) and Peng Yu (b. 1974 in Heilongjian, China) both studied oil painting at the Central Academy of Fine Arts, Beijing.

China is bound to be dependent on coal for energy — we can not afford oil as an alternative when it costs more than US$ 100 dollars (680 yuan) a barrel.

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