🌋 PetroChina Makes History with Digital Yuan Oil Trade
posted 23 Oct 2023
Chinese oil and gas giant PetroChina has achieved a historic milestone by completing the first international crude oil trade using China’s central bank digital currency (CBDC), the e-CNY.
According to China Daily, PetroChina purchased 1 million barrels of crude oil settled in e-CNY at the Shanghai Petroleum and Natural Gas Exchange (SHPGX) on October 18.
The precise value of the deal and the seller’s identity were not disclosed by the SHPGX.
According to China Daily, PetroChina purchased 1 million barrels of crude oil settled in e-CNY at the Shanghai Petroleum and Natural Gas Exchange (SHPGX) on October 18.
The precise value of the deal and the seller’s identity were not disclosed by the SHPGX.