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.
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Energy Fuels has secured a 20-year, USD 725-million loan commitment from the US administration to expand rare earths processing…
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Josh Sherman of the Houston Producers Forum talks about Houston’s growing pull as energy security concerns and growing LNG and…
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Alcídio José of Ozango Minerais talks about the global dynamics around rare earths that are bringing fresh investor interest to Angola's Longonjo project.
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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.
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Iqrar Husain of Quippo Oil and Gas talks about delivering projects in India’s most challenging terrains and the company's investment priorities.
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SLB OneSubsea has won a deepwater EPC contract from CNOOC for a 20-well subsea development in China.
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Vikas Handa, managing director of GulfTek (Gulf Technical Factory), talks to The Energy Year about the company’s strategy for gaining market share for its drilling…
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Eduardo Fairen, then-CEO of TAAG, talks to The Energy Year about the company’s performance in 2023, how sustainability factors into its strategy, its strategy for…
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State-run RAK Gas has signed a contract with China Petroleum Pipeline Engineering Corporation to provide FEED studies for a new pipeline in the UAE, Upstream Online…
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Iraq has set a January 2024 deadline for its fifth plus and sixth oil and gas licensing rounds, Reuters reported on Tuesday.
Blocks on offer consist of 16…
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American energy players ExxonMobil and Hess Corporation have withdrawn from the Kaieteur oil and gas exploration block offshore Guyana, Reuters reported on Saturday.
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Guyana has attracted bids for eight of the 14 offshore oil and gas concessions on offer from global energy giants in the country’s first auction, Reuters reported on…
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The International Energy Agency (IEA) has forecast that demand for oil, gas and coal will peak before 2030 due to the rapid growth of renewables and electric vehicles,…
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Oceaneering International has signed two contracts with a combined value of USD 100 million for offshore support work on oil and gas projects in Angola and Guyana, the…
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ExxonMobil and partners have submitted plans to develop their sixth oil project in Guyana, with an expected investment of USD 12.9 billion, Guyanese officials revealed…
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Adriano Mongini, CEO of Azule Energy, talks to The Energy Year about the significance of having a new independent player in Angola’s oil and gas sector. Established…
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