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Did PetroChina complete the first international crude oil trade using CBDC?

Forgot your password? An anonymous reader quotes a report from CoinDesk: Chinese oil and gas company PetroChina (0857) has completed the first international crude oil trade using the country's central bank digital currency (CBDC), the e-CNY, China Daily reported on Saturday.

Who bought 1 million barrels of crude oil?

By buying 1 million barrels of crude oil, PetroChina International Corp Ltd completed the first-ever international crude oil trade to be settled in e-CNY at the Shanghai Petroleum and Natural Gas Exchange (SHPGX). The SHPGX's announcement on Friday, however, did not disclose the exact value of the deal nor the identity of the seller.

Why did PetroChina international buy 1 million barrels of crude?

PetroChina International bought 1 million barrels of crude on Oct. 19. The transaction was a response to a call by the Shanghai Municipal Party Committee and Municipal Government to apply the Chinese central bank digital currency (CBDC), also referred to as the e-CNY, to international trade, the exchange said.

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