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
NextDecade Corporation has executed a 20-year sales and purchase agreement with China Gas Holdings for gas from its Rio Grande LNG export project in Brownville, Texas,…
READ MORE
Philippe Groueix, country chair and general manager of TotalEnergies EP Uganda, talks to The Energy Year about the company’s activities following Uganda’s landmark…
READ MORE
“Now is the time. Uganda is the right destination for investment.” As H.E. President Yoweri Kaguta Museveni has said, 2022 represents a significant milestone in…
READ MORE
Mehmet Öğütçü, CEO of Global Resources Partners and chairman of the London Energy Club, talks to The Energy Year about changes in the global energy picture brought…
READ MORE
Brazil’s Petrobras has begun commercial production on the first stage of development of the pre-salt Mero field in the Santos Basin, partner TotalEnergies announced on…
READ MORE
ExxonMobil has made its FID on the offshore Yellowtail development in Guyana after receiving state approval, the American super-major announced on Monday.
The USD…
READ MORE
Raul Baz Harvill, managing director of Grupo Petroquímico Beta, talks to The Energy Year about the challenges facing Mexico’s petrochemicals production and the…
READ MORE
Saudi Aramco has sold a 49% stake in subsidiary Aramco Gas Pipelines Company for USD 15.5 billion to an international consortium, the Saudi NOC announced on…
READ MORE
E&P player China National Offshore Oil Corporation has signed 13 agreements with 12 international companies worth more than USD 13 billion to boost oil and gas…
READ MORE
Ghana’s oil and gas upstream infrastructure was the first step in development of its emerging energy sector. As production of hydrocarbons ramps up, the country now…
READ MORE
