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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Marking the 40th anniversary of the establishment of diplomatic relations between Oman and China, the two countries released a joint statement on the establishment of a…
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Alejandro Díaz, CEO of the American Chamber of Commerce in Argentina (AmCham), talks to TOGY about the business relationship between the two countries, opportunities…
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Kee Yong Wah, the deputy executive chairman of NuEnergy Gas (NGY), talks to TOGY about the development of the CBM market in Indonesia and the potential of this sector.…
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Brazil’s Petrobras has received its P-67 FPSO from the China Offshore Oil Engineering Company (COOEC), international media reported Wednesday.
The vessel will be…
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Brazilian NOC Petrobras revealed upcoming pre-salt drilling plans in a press conference on the company’s Q1 financial results on Tuesday.
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Shares in Rosneft surged 6.5% Wednesday morning, state agency Tass reported, a day after Russia’s oil giant proposed to buy back around USD 2 billion in…
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The global oil supply glut has eased due to the recent production cut measures, the International Energy Agency said in its latest forecast on Friday.
The…
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The Nigerian National Petroleum Corporation said Sunday that arrangements for the groundbreaking of the Ajaokuta-Kaduna-Kano pipeline were underway.
Lot 1,…
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China on Monday launched crude futures in its own currency, international media reported.
NOC Sinopec’s trading arm has struck a deal to buy oil on the new…
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