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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Gong Bencai, the president of PetroChina International Companies in Indonesia, talks to TOGY about the need for gas pipeline development in the country and the…
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China National Petroleum Corporation has discovered an oilfield in western China, local and international media reported on Friday.
The discovery, which is estimated…
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Russian oil giant Rosneft has approved the sale of around 88 million barrels of crude to CEFC China Energy next year, international media reported on…
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Abu Dhabi National Oil Company (ADNOC) and China National Petroleum Corporation signed a new framework agreement Wednesday.
Under the deal, the two companies…
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ADNOC plans to increase production capacity in the Upper Zakum offshore oilfield to 1 million bopd by 2024, the company announced Tuesday.
ADNOC, ExxonMobil and…
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Saudi Aramco has signed oil and gas service deals worth about USD 4.5 billion in total, the Saudi oil giant announced on Thursday.
“These agreements……
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China Energy Investment Corporation has signed an MoU to invest USD 83.7 billion in shale gas and chemical projects in West Virginia, the state’s Department of Commerce…
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Daniel Montamat, president of Montamat & Asociados, talks to TOGY about natural gas pricing and programmes to incentivise further production in Argentina, the…
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Chinese crude refineries have set a record in September, international media reported on Thursday.
At an average of 12 million bpd, volumes processed last month were…
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Crude prices gained in Asia on Friday with trade data from China supporting rising demand views as the market looks ahead to U.S rig count data.
On the New York…
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