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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Nana Incoom, interim general manager of Belmet 7, talks to The Energy Year about problems facing local fabricators in Ghana and what the company is doing to remain…
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Robert Osei, CEO of Capitol Engineering, talks to The Energy Year about the competitiveness of Ghana’s energy industry as well as the company’s key capabilities and…
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China has inaugurated a USD 3.2-billion joint venture consisting of 10 offshore engineering companies, the government announced on Friday.
China Offshore Engineering…
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R. Yofi Grant, CEO of the Ghana Investment Promotion Centre (GIPC), talks to The Energy Year about what Ghana needs to do to attract investment and the resiliency of…
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Meridian Group of Companies CEO Charles Addo, COO William Mould and CEO of the Energy Division Muhammad Zaman talk to The Energy Year about the critical role of gas…
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Abu Dhabi National Oil Company has signed concept and FEED contracts to the amount of USD 204.4 million with 15 international engineering companies, the state-owned oil…
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ENN Natural Gas Company has signed a 13-year sales and purchase agreement with Cheniere Energy for the supply of LNG, the Chinese gas retailer announced on…
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Oil was down Thursday morning in Asia, continuing its downward trends as the latest, official data confirmed a build in US crude supplies.
Brent oil futures edged…
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SBM Offshore has completed the largest financing for a single FPSO in the company’s history, the Dutch offshore services provider announced on Thursday.
The FPSO…
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The Chinese government has included the sale of 7.38 million barrels of its national crude reserves in its first auction, the government announced on Tuesday.
The…
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