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 traded lower on Monday in Asia. Sino-US trade war developments were in focus.
US Crude Oil WTI Futures fell 1.1% to $55.04 by 12:35 AM ET (04:35 GMT.).…
READ MORE
Oil prices fell on Thursday in Asia despite a bigger-than-expected fall in US crude inventories.
The Energy Information Administration reported that crude…
READ MORE
Oil prices rose on Monday in Asia. Tensions in the Middle East and Sino-US trade worries remained in focus today.
US Crude Oil WTI Futures gained 1.1% to $56.22 by…
READ MORE
Oil prices rose on Thursday in Asia as data showed US crude inventories fell more than expected last week.
US Crude Oil WTI Futures inched up 0.1% to $56.84 by 11:56…
READ MORE
Oil prices were near flat on Wednesday in Asia after slumping more than 3% overnight following news that US President Donald Trump and his administration were…
READ MORE
Oil prices steadied on Monday in Asia. A better-than-expected US jobs report was cited as a tailwind for the markets.
US Crude Oil WTI Futures were up 0.2% to…
READ MORE
Oil prices fell on Tuesday in Asia even after the OPEC agreed to extend production cuts by nine months.
The deal is subject to approval from non-OPEC allies, such as…
READ MORE
Oil was up more than 2% this morning as OPEC met in Vienna following announcements from Saudi Arabia, Russia, Iraq and Iran that their leaders would agree to extend…
READ MORE
Oil prices dropped on Friday in Asia as traders remained wary of the outcomes of meetings Chinese leader Xi Jinping, Russia President Vladimir Putin of Russia and Saudi…
READ MORE
Oil prices traded higher on Thursday in Asia after official government data showed a larger-than-expected fall in US crude inventories.
US Crude Oil WTI Futures…
READ MORE
