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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Mahesh Patil, managing director of Horizon Group of Companies, talks to The Energy Year about the company’s approach to services provision and its recently launched…
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Gbolahan Elias, a partner at G. Elias & Co., talks to The Energy Year about recent reforms in Nigeria’s energy industry, factors driving downstream advances and…
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Oil was up Friday morning in Asia to its highest levels in year, ending the week on a strong note over producers’ commitment to continued supply cuts and positive…
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Oil was down Thursday morning in Asia over fresh fuel demand worries after England restricted travel and China seeks to limit travel during the upcoming Lunar New Year…
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Oil was up Wednesday morning in Asia, boosted by a surprise draw in US crude oil supplies and a drop in Chinese COVID-19 cases raising hopes for increased fuel…
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Oil was down Friday morning in Asia, continuing a retreat from the previous week’s 11-month highs, over new Covid-19-induced restrictive measures in China and the…
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Oil was down on Thursday morning in Asia, with investors digesting a small but surprising build in US crude oil supplies that re-ignited fuel demand worries.
Brent…
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Oil was mixed Tuesday morning in Asia, with investors weighing optimism that further stimulus measures will buoy economic growth against mounting fears for fuel demand…
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Oil was mixed Friday morning in Asia, with investors weighing strong import data from China against a Covid-19 outbreak in the world’s biggest crude importer that has…
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Oil was down Thursday morning in Asia, with investors weighing the ever-rising number of Covid-19 cases and the impact for fuel demand against a fifth consecutive week…
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