China conducts first online spot trading of liquid carbon dioxide

(ECNS) -- The Daqing Oilfield has sold 1,000 tons of liquid carbon dioxide at a price of 210 yuan (around $30.37) per ton through online bidding, the first successful online spot-trading of liquid carbon dioxide in China.

Liquid carbon dioxide can be widely usedfor mechanical processing, chemical synthesis, and petroleum extraction. The demand for liquid carbon dioxide in China has been increasing year by year.

The Dalian Petroleum Exchange is the only trading platform in China's petroleum system that has the qualification for online spot-trading of petroleum and petrochemical products.

It has supporting services such as spot trading, electronic trading, intelligent storage and transportation, and information release.

So far, Dalian Petroleum Exchange has conducted 402 online spot-trading sessions for petroleum and petrochemical products, with a total accumulated volume of 1.848 million tons.