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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BP has established a joint venture with China’s Zhejiang Energy Group to deliver LNG to the Chinese market via tanker truck transport, the UK energy giant announced…
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TotalEnergies has renewed the production licence of the offshore OML 130 concession in Namibia for 20 years, the French energy giant announced on Monday.
The block…
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Aker Solutions has signed a contract with ExxonMobil to build the subsea umbilical system for the Uaru field development project in Guyana, the Norwegian engineering…
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Saad Al Ganbar, chairman of Saja Energy, talks to The Energy Year about the company’s innovative plan to develop and own its intellectual property and Saudi…
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MODEC has signed an EPCI contract to build an FPSO bound for ExxonMobil’s offshore Uaru field in Guyana, the Japanese shipbuilding company announced on Monday.
The…
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SBM Offshore has signed a USD 3-billion contract for operations and maintenance works on four of ExxonMobil’s FPSOs in Guyana, the offshore energy engineering company…
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ExxonMobil and its partners have reached the FID on Guyana’s fifth offshore oil and gas development, the US energy giant announced on Wednesday.
The Guyanese…
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Hess Corporation has discovered oil at an exploration well on the prolific Stabroek block offshore Guyana, the American independent announced in its Q1 2023 report.
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Sinopec has unveiled plans to build a hydrogen pipeline linking China’s Inner Mongolia region to its eastern cities, Reuters reported on Monday.
The 400-kilometre…
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ConocoPhillips has upped its stake in the Australia Pacific LNG (APLNG) gas export project for USD 500 million, the American energy giant announced on Monday.
The…
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