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 prices dropped on Monday in Asia but are still near 12-week highs after OPEC+ agreed to bigger output cuts than expected.
US Crude Oil WTI Futures lost 0.5% to…
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Oil prices rose on Thursday ahead of an OPEC meeting where members are expected to agree on deeper output cuts aimed at supporting markets, while a sharp drop in US oil…
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Oil prices recovered on Monday amid China’s better-than-expected PMI data and expectations that the Organization of the Petroleum Exporting Countries (OPEC) and…
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Oil prices slipped on Friday in Asia but is set for a weekly gain ahead of a key OPEC+ meeting next week. Trading volume was reduced due to the US Thanksgiving…
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Oil prices traded lower on Thursday in Asia after the US Energy Information Administration (EIA) reported that oil crude inventories unexpectedly rose last week.
US…
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Oil prices slipped on Tuesday in Asia despite positive comments from the US and China on trade talk progress.
The US Crude Oil WTI Futures slipped 0.1% to $57.97 by…
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US oil prices steadied on Monday in Asia as Sino-US trade talks continued to dominate markets action.
US Crude Oil WTIFutures inched up 0.2% to $57.90 by 12:35 AM…
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Oil prices fell on Tuesday in Asia amid more US-China trade jitters.
CNBC cited a Chinese government source and said that Beijing is not optimistic about prospects…
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Oil prices were down on Wednesday in Asia as hopes for a trade deal between China and the US, the world’s biggest oil importers, dimmed.
US Crude Oil WTI Futures…
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Oil prices rebounded on Tuesday in Asia after falling in the previous session amid uncertainty over Sino-US trade progress.
US Crude Oil WTI Futures gained 0.3% to…
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