Trump Claims Venezuela Will Transfer 30 Million To 50 Million Barrels Of Oil To The United States (US)

  On January 8, oil prices rose in early trading as U.S. crude oil inventories fell more than expected and traders closely monitored developments in Venezuela. According to the latest report from the U.S. Energy Information Administration, crude oil inventories decreased by 3.8 million barrels last week, far exceeding the expected drop of 900,000 barrels, marking the largest decline since late October. Meanwhile, traders are digesting the latest U.S. actions regarding Venezuela, including plans to control the Venezuelan oil industry and the seizure of two oil tankers. Analysts at Saxo Bank stated, “While geopolitical risks have temporarily prevented further declines in oil prices, the prospect of increased exports from Venezuela has already put pressure on Canadian crude prices and may add to the supply in a market that is already facing ample supply pressures.”

On January 7, Process Jun received a press release from BASF regarding the successful and timely commissioning of the ethylene cracker at its integrated base in Zhanjiang, South China. This is the world's first ethylene cracker with a main compressor (electric drive) that is 100% powered by renewable energy. As the core of the integration, the ethylene cracker supplies important basic chemicals, such as ethylene and propylene, to multiple units within the integrated base. This is the starting point for many chemical value chains: long-chain hydrocarbons like naphtha or butane undergo cracking under the action of steam. The facility has an annual production capacity of 1 million tons of ethylene.

The Pakistan National Tariff Commission has announced its decision to continue imposing duties on products originating from or exported from mainland China, South Korea, Thailand, and Taiwan Province.Suspension grade polyvinyl chloride resinImposition of anti-dumping duties. Among them, the anti-dumping duty rate imposed on exporters/producers from Mainland China is 3.44% to 20.47%.

On January 7, it was reported that U.S. President Trump announced on January 6 that the interim government of Venezuela would transfer 30 to 50 million barrels of oil to the United States. This oil will be sold at market prices, and the proceeds will be overseen by Trump to ensure that the funds are used to "benefit the people of Venezuela and the American people." Trump stated that he has instructed Energy Secretary Chris Wright to implement this plan immediately. The oil will be loaded onto storage ships and directly transported to unloading docks in the United States. Currently, there has been no official response from the Venezuelan side.

Caixin News AgencyOn January 6th, Li Jialu, Director of the Department of Circulation Industry Development at the Ministry of Commerce, stated on the 6th.State Council Information OfficeAt the press conference, it was stated that the next step will be...Ministry of CommerceWe will continue to implement the national directives on plastic pollution control, strengthen the reporting management of single-use plastic products, increase the promotion of green alternatives such as biodegradable products and bamboo-based products, deepen efforts to reduce plastic use in key sectors like catering, improve long-term governance mechanisms, and advance plastic pollution control in the business sector. This will contribute to promoting green consumption and building a beautiful China.