China
News
February 20, 2023
Firms based in China account for roughly 15% of all contracts that’ll begin delivering LNG supply through 2027, according to an analysis of BloombergNEF data. That trend is set to increase as the companies seek to lock in more long-term agreements.
News
February 06, 2023
While there’s a lot of potential for oil demand this year, the “beast” of Covid-19 means there’s also the risk of volatility, Al-Ghais cautioned. Ministers from the OPEC+ coalition are just “a phone call away to step in when necessary,” he added.
News
January 06, 2023
Xinjiang Central Asia Petroleum and Gas Co. will invest as much as $150 million in the first year and $540 million over the subsequent three years to explore five oil and gas blocks. The militant group will earn 15% royalty fees from the 25-year contract.
News
January 05, 2023
The presidents of China and the Philippines agreed to resume talks on oil and gas exploration in the South China Sea. They will also discuss maritime differences amicably after meeting in Beijing on Jan 4., a move that potentially paves the way for easing recent tensions.
News
December 30, 2022
A major breakthrough of Sinopec's "Project Deep Earth," the Yuanshen-1 well has reached the deepest oil and gas formation in burial depth in the Sichuan Basin and further shows the great potential of deep ancient carbonate rocks in the region.
News
December 26, 2022
107 development wells are planned to be commissioned, including 67 production wells, 36 water injection wells and four water source wells. The project is expected to achieve its peak production of approximately 36,100 bopd in 2024.
News
December 07, 2022
CNOOC Ltd. announces today that Enping 15-1/10-2/15-2/20-4 oilfields joint development project has commenced production.
News
November 03, 2022
China looks set to receive an influx of seaborne crude oil in the coming weeks as higher volumes bought before its latest Covid shutdowns head for its ports.
News
October 14, 2022
President Xi Jinping has promised a slow and steady end to the growth of planet-warming emissions in China, with energy security taking top priority as the country contends with a flagging economy and tumult on global fuel markets.
News
March 11, 2022
Saudi Arabia is strengthening energy ties with China, as the oil producer Aramco agreed to build a multi-billion dollar refining and chemicals project.
News
March 08, 2022
The world and energy market are at a point in history, as important as the end of both world wars, and that was true before the Russian invasion of Ukraine, said Atlantic Council President and CEO Frederick Kempe.
News
January 18, 2022
China’s overseas shipments of fuels fell for a second year as Beijing tightened export quotas, in part to ensure sufficient domestic supply.
News
January 11, 2022
China doubled down on imports of Iranian and Venezuelan crude in 2021, taking the most from the U.S.-sanctioned regimes in three years, as refiners brushed off the risk of penalties to scoop up cheap oil.
News
January 04, 2022
China slashed its fuel export quota by more than half in the first batch of allocations for 2022, highlighting the nation’s strategy of progressively limiting overseas sales.
News
January 25, 2021
The cat-and-mouse games that avoid detection and sanctions include ship-to-ship transfers, shell companies and silenced satellite signals. But there’s another aspect to the dodge. It involves “doping” the oil with chemical additives and changing its name in the paperwork so it can be sold as a wholly different crude without a trace of its Venezuelan roots.
News
January 25, 2021
With the U.S. campaign of “maximum pressure” now over, Iran’s oil customers may be growing a little bolder.
News
January 25, 2021
Iraq pledged to cut output in January and February after pumping more than its OPEC+ quota last year, and Libyan guards halted some crude exports after a pay dispute. Crude was also buoyed by a renewed climb in global equity markets as investors focused on the prospect of additional stimulus.
News
January 20, 2021
Traders have piled into oil this year, with output cuts from Saudi Arabia helping drive prices to the highest since February.
News
January 15, 2021
China National Offshore Oil Corp. has for years drilled in waters far from its borders, and within 200 miles of countries including Vietnam and the Philippines. The activity amounts to the oil giant acting like a “bully” for China’s military to intimidate its neighbors, U.S. Commerce Secretary Wilbur Ross said in a statement announcing the move, which restricts access to U.S. technologies without specific permission.
News
January 11, 2021
There have been signs across the oil market of traders expecting tighter supplies following the Saudi cuts. The shape of the Brent futures curve returned to backwardation earlier this week, meaning more immediate prices are trading at premiums.
News
January 08, 2021
Democratic wins in elections in Georgia mean the party is poised to take control of the Senate, House and presidency, spurring a broad move higher in financial markets. That came after Saudi Arabia pledged earlier in the week to cut production by 1 million barrels a day in February and March.
