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 gained more than 1% on Friday in Asia, after reports late Thursday of a possible relaxation of U.S. tariffs on China improved the outlook for global…
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Oil prices slid and gave back some of their gains after jumping more than 5% on Wednesday amid optimism on Sino-U.S. trade talks.
U.S. Crude Oil WTI Futures traded…
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Brazilian NOC Petrobras has struck hydrocarbons through a wildcat well drilled in the Peroba pre-salt field, though commercial potential has yet to be established,…
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Oil prices gained on Monday in Asia following reports that U.S. President Donald Trump is likely to hold talks with Wang Qishan, China’s vice president, at the World…
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Oil prices edged up on Friday in Asia after China confirmed it would hold talks with Washington next week to solve trade disputes between the two countries.
U.S.…
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Shell is to start a big oil project in Vaca Muerta in 2019, international media reported Thursday, while a giant FLNG vessel set out for Argentina in order to tap gas…
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Iraq is to sign a deal with ExxonMobil and China National Petroleum Corporation for a major energy project soon, international media reported on Wednesday.
The…
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Franklin Khan, Trinidad and Tobago’s energy minister, talks to TOGY about collaboration with other countries in the region, government efforts to provide…
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Oil prices edged up on Tuesday in Asia after falling 3% in the previous session as a cut promised by Saudi Arabia and its allies in the enlarged OPEC+ failed to boost…
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Abu Dhabi’s ADNOC has awarded a 4% stake in its ADNOC Onshore concession to North Petroleum International Company, a subsidiary of China’s ZhenHua Oil.
“China…
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