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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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 prices managed a modest rebound on Tuesday from Monday’s sharp losses, as traders weighed talk that OPEC may look to limit crude supply against fears of a…
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Oil prices dropped on Friday morning in Asia, despite a report from the US Energy Information Administration (EIA) that confirmed a sharp decline in stockpiles that…
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Oil prices recovered on Thursday in Asia after slumping to five-week lows earlier in the day after data showed petroleum stockpiles rose by 14 million barrels for a…
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Oil prices rose on Tuesday in Asia as traders monitored news in the Middle East and developments on the Sino-US trade front.
US Crude Oil WTI Futures traded 0.2%…
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Oil prices jumped on Wednesday in Asia after Iran attacked two US-Iraqi airbases in response to a US airstrike that killed a top Iranian general last week, sparking…
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Oil prices stayed close to three-month highs on Friday as the China-US trade talks showed signs of progress.
Brent futures rose 2 cents, or 0.03%, to 66.56 a barrel…
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Oil prices traded lower on Wednesday in Asia after the American Petroleum Institute (API) reported a large build of weekly crude inventories.
US Crude Oil WTI…
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Oil prices fell on Monday in Asia as traders awaited more clarity on the phase one trade deal the US and China agreed on late last week.
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Oil prices advanced on Friday in Asia as US President reportedly agreed to a partial deal with China to pause the trade war.
US Crude Oil WTI Futures rose 0.5% to…
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Oil prices traded slightly lower on Tuesday in Asia amid demand worries and uncertainties surrounding the trade war between China and the US
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