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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Brazilian NOC Petrobras and China National Petroleum Corporation (CNPC) have agreed to further evaluate the economic feasibility of moving ahead with the unfinished…
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Nader Hamad Sultan, chairman of Ikarus Petroleum Industries, talks to TOGY about the risks of being left behind if companies don’t consider the energy transition and…
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Shelf Drilling’s Adriatic I jackup rig will be used for a two-well campaign at Sirius Petroleum’s Ororo field, located in the OML 95 licence offshore Nigeria,…
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Qatar Petroleum (QP) is marking its third E&P contract in Brazil in recent months following the award of the offshore Titã PSC in the country’s Fifth Pre-Salt…
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Brazil’s National Agency of Petroleum, Natural Gas and Biofuels on Friday awarded four offshore blocks under its Fifth Pre-Salt Bidding Round, with total signing…
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The EU, Russia and China have agreed to set up a “special vehicle” to trade with Iran after the USA reimposes sanctions in November, international media reported on…
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Oil prices were flat on Wednesday, as U.S. crude stockpiles rose higher than expected.
West Texas Crude oil futures for November fell 0.01% to $69.58 a barrel as of…
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Argentina will start up its first offshore E&P round in October and award licences the following February, energy secretary Javier Iguacel told audiences at a Houston…
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Tema LNG Terminal Company and the China Harbour Engineering Company have tapped Heritage Energy for the Tema port LNG terminal project, diverting revenue from the Ghana…
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The Nigerian government has announced a USD 500-million facility from the Export Import Bank of China through the Bank of Industry to build modular refineries and fund…
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