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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China has imposed a 25% tariff on US goods including crude oil totalling USD 16 billion per year in response to a similar move by the USA, international media reported…
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U.S. crude oil prices were higher on Tuesday as U.S. sanctions against Iran were renewed, increasing concerns of tightening supply.
West Texas Crude oil futures rose…
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Oil prices were mixed on Friday after strong gains in the previous session on reports that crude supplies fell at a domestic delivery hub at Cushing, Oklahoma.
Crude…
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Petrochina has encountered significant amounts of shale gas in the Huangguashan block in southwestern China, international media reported late on Thursday.
The…
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NNPC has awarded a China Petroleum Engineering Corporation (CPEC) subsidiary a USD 286-million contract for pipeline work in Nigeria, local media reported…
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Oil prices edged up on Monday as investors digested a strong U.S. GDP report and the continued trade concerns between the U.S. and China.
Crude Oil WTI Futures for…
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China National Petroleum Corporation plans to invest USD 22 billion in an E&P programme in Xinjiang Autonomous Region in West China to replace declining output…
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ADNOC has awarded 3D-seismic contracts worth USD 1.6 billion to a subsidiary of China National Petroleum Corporation (CNPC), the Abu Dhabi NOC announced on…
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Oil prices rebound on Thursday, with Brent crude gaining more than USD 1 after its biggest one-day drop in two years in the previous session.
Crude Oil WTI…
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Nabil Bourisli, CEO of KPC Holdings (Aruba) Group and president of Kuwait Petroleum International (KPI), talks to TOGY about the strategy of the company’s investment…
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