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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Fernando Barbosa, president of Enseada Indústria Naval, talks to TOGY about the dynamics of Brazil’s FPSO market, the outlook for the development of the domestic…
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Nuertey Adzeman, the executive director of Ghana Oil and Gas Service Providers Association (GOGSPA), talks to TOGY about how to ensure IOCs are doing their due…
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Saudi Arabia’s oil production has increased to nearly 11 million bopd this month, international media reported on Wednesday.
Bloomberg cited industry sources as…
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Abu Dhabi-based Zakher Marine International Inc. group (ZMI) has announced the conclusion of USD 125 million in financing supported by Sinosure for the expansion of its…
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The USA has granted temporary sanctions waivers to eight countries including India, Japan and South Korea to continue importing Iranian oil, international media…
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A partner in Ghana’s Tema LNG project has announced the start of construction, international media reported Wednesday.
China Harbour Engineering Company has begun…
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One year after winning the Peroba subsalt block in a PSA tender, a Petrobras-led consortium has begun drilling activities, international media reported Friday.…
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Kuwait has signed an MoU to build a new refinery in China, international media reported on Thursday.
The unit, to be located in south China, will be constructed in…
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Menko Ubbens, senior vice-president and project director of Fluor, talks to TOGY about the significance of the Clean Fuel Project (CFP) and ZOR developments, new…
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Aker Solutions has received a NOK 1.7-billion (USD 205-million) subsea contract from China National Offshore Oil Corporation (CNOOC), the Norwegian services provider…
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