🌋 PetroChina Makes History with Digital Yuan Oil Trade

posted  23 Oct 2023
Photo - PetroChina Makes History with Digital Yuan Oil Trade
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.