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Secure Energy Services Inc T.SES

Alternate Symbol(s):  SECYF

SECURE Energy Services Inc. is a Canada-based environmental and energy infrastructure company. The Company operates through three segments: Environmental Waste Management (EWM) Infrastructure, Energy Infrastructure and Oilfield Services. Its EWM Infrastructure segment includes a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer facilities, and metal recycling facilities. Through this infrastructure network, the Company carries out business operations, including the processing, recovery, recycling and disposal of waste streams generated by its energy and industrial customers. Its Energy Infrastructure segment includes a network of crude oil gathering pipelines, terminals and storage facilities. Through this infrastructure network, the Company is engaged in the transportation, optimization, terminalling and storage of crude oil. Its Oilfield Services segment includes drilling fluid management, and project management services.


TSX:SES - Post by User

Bullboard Posts
Post by Bradwaiton Jun 08, 2020 4:31pm
141 Views
Post# 31126021

China Oil Imports Jumped to Record Levels in May

China Oil Imports Jumped to Record Levels in May

China Oil Imports Jumped To Record Levels In May

China’s crude oil imports in May jumped to the highest in history ever, at 11.34 million bpd, customs data showed, confirming an earlier report by analytics firm OilX, which had calculated China’s May imports at 11.11 million bpd.

The data also confirms that China’s economy is on the fast track to recovery from the coronavirus crisis, with the May daily average of oil imports up by 15 percent from April and 150,000 bpd more than the previous import record that Chinese buyers set last November.

Among the reasons for the substantial jump in oil imports are bargain-hunting while oil is still cheap, but also developments on the futures market: since April, Chinese hedge funds have been betting big on an oil price recovery on the Shanghai crude futures, which has led to major Chinese state oil firms, including PetroChina and Sinopec, delivering oil into the crude oil futures contract.

But there is also the simple fact of recovering demand for fuel, with data from TomTom showing that traffic has been on a strong rebound in the past couple of weeks as people feel safer in their personal cars than in public transport. Refinery demand has been particularly strong from the so-called teapots, or independent refiners, who have been running their refineries at near-record rates since last month.

The world’s top oil importer is set to increase its crude oil imports by 2 percent in 2020 thanks to the low oil prices, according to a research think-tank affiliated with state oil giant China National Petroleum Corporation (CNPC).  Apparent crude oil consumption is expected to increase by between 1 percent and 2 percent year on year, CNPC Research says. However, demand for oil products is set for a decline of 5 percent this year from last, the think tank also said.

By Irina Slav for Oilprice.com


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