Chinese oil giant PetroChina Co. said it is not seeing any discounted Russian oil and gas is only purchasing fuel from the country through its existing contracts, company executives said Friday.
Deals with Russian counter-parties are operating normally, Chief Financial Officer Chai Shouping said on the company’s first-quarter earnings call.
Chai added that the transactions have continued to be settled in U.S. dollars or euros despite international sanctions against several Russian banks following the invasion of Ukraine.
Since the invasion in Ukraine many countries including China and Russia has snapped heavily discounted Russian grade crude Ural.
