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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Oil was up Wednesday morning in Asia as a strong economic rebound of key consumers boosted fuel demand and drained bloated inventories. Investors now await a…
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Oil was up Tuesday morning in Asia, with signs emerging of a rapidly tightening market.
Brent oil futures were up 0.32% to $75.14 by 4:41 PM ET (4:41 AM GMT), after…
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Khaled Abubakr, executive chairman of TAQA Arabia, talks to The Energy Year about improvements to bureaucracy in Egypt’s oil and gas industry, the company’s CNG…
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Ahmad El Tannir, general manager of Al Masaood Oil & Gas, talks to The Energy Year about how energy developments are proceeding in Abu Dhabi despite the pandemic and…
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Oil was down Monday morning in Asia, as investors await talks between Iran and world powers later in the week that could lead to increased Iranian supplies
Brent…
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Oil was up Wednesday morning in Asia, remaining at the highest level since Oct. 2018, as the Organization of the Petroleum Exporting Countries and its allies (OPEC+)…
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Oil was up Monday morning in Asia on the back of an ever-brightening fuel demand outlook. Investors also now turning their focus to the Organization of the Petroleum…
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Oil was up Friday morning in Asia, ending the week by extending gains from the highest close in more than two years. Optimism as US fuel demand continues to increase…
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Mothana Bahjeat Qteishat, senior managing director of the MEA region for Jinko Power, talks to The Energy Year about the factors that have made the UAE’s solar…
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Oil was up Thursday morning in Asia but remained a three-week low even if the US increased its fuel supplies. However, investors remain concerned about the spike of…
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