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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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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Qatargas will supply LNG to China under a 22-year deal reached with PetroChina International Company, the Qatari state company said on Monday.
Under the deal,…
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Oil prices were flat on Friday, as U.S. crude inventories fell to their lowest levels since 2015 and trade tensions with China increased.
West Texas Crude oil…
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Uganda National Oil Company and China National Offshore Oil Corporation (CNOOC) have signed a deal to explore a new block in the African country, the Ugandan government…
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The Tema LNG Terminal company has signed a deal with China Harbour Engineering Company on the construction of the Tema LNG facility, local media reported…
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Abdulla Al Ajmi, chairman of Kuwait Aromatics Company (KARO), talks to TOGY about opportunities outside Kuwait and the importance of the Al Zour integration project in…
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Sinopec Corporation and Zhejiang Energy Group Company will join forces for the construction of a 3-million-tonne-per-year LNG terminal in China, Sinopec said on…
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Brazil’s National Agency of Petroleum, Natural Gas and Biofuels has approved a request to ease local content requirements for the development of the offshore Libra…
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Marcus Cirio, general manager of Estaleiro Brasa, talks to TOGY about the company’s recent investments, service and product quality in Brazil, the outlook for…
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