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 down Tuesday morning in Asia, with rising numbers of Covid-19 cases globally contributing to rising fuel demand worries. However, expectations of a drawdown in…
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Oil was down Monday morning in Asia over renewed fuel demand worries as ever-rising numbers of global Covid-19 cases see more countries, most recently in China and…
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Oil was up Friday morning in Asia, with Saudi Arabia’s pledge of voluntary production cuts boosting the market even as worries over declining fuel demand due to…
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Crude oil prices were broadly unchanged on Monday in thin trade, as President Donald Trump’s change of heart about signing the $900 billion Covid-19 relief package…
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Abu Dhabi’s ADNOC has awarded a 3D-seismic contract expansion worth USD 519 million to BGP, a subsidiary of China National Petroleum Company.
BGP is represented in…
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Oil was down on Monday morning in Asia as investors wait to see if OPEC+ will extend supply caps past January.
Brent oil futures fell 0.87% to $47.83 by 11:26 PM ET…
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Ugandan Minister of Energy Mary Goretti Kitutu and GECF secretary-general Yury Sentyurin have made the Africa Energy Chamber’s list of the top 25 “movers and shakers”…
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Oil was up on Tuesday morning in Asia as multiple vaccine makers delivered positive information on their progress. Moderna Inc (NASDAQ:MRNA) has released information…
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Oil was up on Wednesday morning in Asia, with gains of over 11% in the last two days. Prices have been buoyed by positive Covid-19 vaccine news and encouraging US…
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Oil was mixed on Thursday morning in Asia after a big 5% slide overnight that pulled both Brent and WTI futures below the $40 benchmark. Prices received a boost from…
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