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
Oil prices steadied on Friday in Asia amid possibility of deeper supply cuts from major producers.
US Crude Oil WTI Futures inched up 0.1% to $51.48 by 12:30 AM ET…
READ MORE
Oil prices were mixed on Thursday in Asia after jumping more than 2% in the previous session amid hopes that China was gaining traction on its fight against the…
READ MORE
Oil prices advanced on Wednesday in Asia after the American Petroleum Institute (API) reported that US crude oil inventories rose sharply last week.
US Crude Oil…
READ MORE
Gary Selbie, president of Premier Oil Indonesia, talks to TOGY about the changes needed to realise the country’s gas future, pressure on the regional LNG market and…
READ MORE
Oil Prices rebounded from the lowest level in more than a year on Tuesday in Asia, but analysts said the recent coronavirus outbreak remained as a major headwind for…
READ MORE
Oil prices steadied on Monday in Asia after posting a fifth straight weekly loss.
US Crude Oil WTI Futures inched up 0.1% to $50.37 by 1:27 AM ET (05:27 GMT), while…
READ MORE
Oil prices gained on Friday in Asia but is set to record their fifth straight weekly loss amid worries surrounding the recent coronavirus outbreak in China.
US Crude…
READ MORE
Oil prices gained on Wednesday in Asia even after the American Petroleum Institute (API) said US oil inventories increased last week.
US Crude Oil WTI…
READ MORE
Oil prices rose on Tuesday in Asia as OPEC and its allies meet to assess Asia’s coronavirus’ impact on oil demand.
US Crude Oil WTI Futures gained 0.9% to…
READ MORE
Oil prices were mixed on Monday in Asia as traders continued to monitor the coronavirus situation in China.
US Crude Oil WTI Futures inched up 0.1% to $51.59 by…
READ MORE
