Oil Reserves26 billion barrels
Oil Production3.98 million bopd
Gas Reserves8.4 tcm
Gas Production209.2 bcm
China boasts the second largest economy and largest population in the world. In addition, the country occupies the top spot in crude oil imports and the fourth spot in production figures, making it a central figure in the global energy markets. Three national oil companies in China, China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corporation (Sinopec Corporation) and China National Offshore Oil Corporation (CNOOC), account for the lion’s share of upstream and downstream oil and gas activity in the country.
Currently, China is undergoing a shift in focus from a country with economic drivers based in manufacturing and heavy industries to one based in services and domestic consumption. Adding to the nation’s economic shift, the Chinese government is determined to curb environmental pollution by switching its heavy reliance on coal burning to cleaner energy sources such as natural gas.
Abu Dhabi has awarded the Bab Gas Cap development and production concession to an ADNOC-led consortium of international companies.
READ MORE
Energy Fuels has secured a 20-year, USD 725-million loan commitment from the US administration to expand rare earths processing…
READ MORE
Josh Sherman of the Houston Producers Forum talks about Houston’s growing pull as energy security concerns and growing LNG and…
READ MORE
Alcídio José of Ozango Minerais talks about the global dynamics around rare earths that are bringing fresh investor interest to Angola's Longonjo project.
READ MORE
ADNOC Drilling is prepared to expand the UAE’s oil production capacity beyond 5 million bopd by 2027 as the country advances upstream growth plans.
READ MORE
Iqrar Husain of Quippo Oil and Gas talks about delivering projects in India’s most challenging terrains and the company's investment priorities.
READ MORE
SLB OneSubsea has won a deepwater EPC contract from CNOOC for a 20-well subsea development in China.
READ MORE
The Venezuelan government has launched a referendum asking its citizens to vote on the nation’s claim to the oil-rich Essequibo region that is now controlled by…
READ MORE
Venezuela has upped oil production to 850,000 bpd with the goal of reaching 1 million bopd, the country’s oil minister said on Wednesday.
In October 2023, the USA…
READ MORE
MMG has agreed to purchase the Canadian owner of Botswana’s Khoemacau copper mine for USD 1.88 billion amid a wave of high demand for copper driven by the global energy…
READ MORE
TotalEnergies has spud the first development well on its deepwater Akpo West play offshore Nigeria, Upstream Online reported on Wednesday.
The well is the first of…
READ MORE
ExxonMobil has begun production at the Payara play in Guyana ahead of schedule, the US energy giant announced on Tuesday.
The Prosperity FPSO is expected to reach…
READ MORE
ExxonMobil and its partners have made another discovery on the Stabroek block in Guyana, Reuters reported on Thursday.
According to the country’s energy ministry,…
READ MORE
Consortiums including ExxonMobil and TotalEnergies have bid on shallow-water blocks in Guyana’s first oil and gas auction, Reuters reported on Thursday.
According…
READ MORE
The International Energy Association (IEA) has predicted that renewable energy projects will supply half of the world’s electricity output by 2030, the global energy…
READ MORE
Mothana Bahjeat Qteishat, Jinko Power Technology Company’s vice-president and head of international tenders, talks to The Energy Year about factors attracting…
READ MORE
SBM Offshore has signed a contract with American energy giant ExxonMobil to provide FEED works for an FPSO bound for Guyana’s offshore Whiptail project, the offshore…
READ MORE
