China’s national oil company CNOOC and France’s TotalEnergies have completed their first yuan-settled liquefied natural gas (LNG) trade through the Shanghai Petroleum and Natural Gas Exchange, the exchange said on Tuesday (Mar 28). China has placed an emphasis on settling oil and gas trades in yuan in recent years in a bid to establish its currency internationally and to weaken the US dollar’s grip on world trade.
This comes after the recent news regarding Saudi Arabia and China in a previous posting.
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