How much Russian ESPO crude has Sinopec imported for July–September deliveries, and what share of its refining capacity does that represent?

According to multiple trade sources cited in the article, Sinopec purchased 30 to 40 shipments — equivalent to 241,000 to 320,000 barrels per day (bpd) — of Russia's Eastern Siberia-Pacific Ocean (ESPO) blend for July to September deliveries, representing 5% to 6% of its total processing capacity of 5.2 million bpd.

Why has Sinopec increased imports of Russian Far East oil, and how does this relate to broader supply shifts amid the Iran war?

Sinopec has ramped up purchases of cheaper Far East Russian oil to compensate for diminished Middle East supplies caused by the Iran war; as noted by trade sources and ship tracking data, this shift reflects a broader demand pivot toward barrels with greater delivery certainty and lower freight costs — particularly onshore inventories and short-haul Russian cargoes — rather than broad-based import growth.

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