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.
READ MORE
Energy Fuels has secured a 20-year, USD 725-million loan commitment from the US administration to expand rare earths processing…
READ MORE
Josh Sherman of the Houston Producers Forum talks about Houston’s growing pull as energy security concerns and growing LNG and…
READ MORE
Alcídio José of Ozango Minerais talks about the global dynamics around rare earths that are bringing fresh investor interest to Angola's Longonjo project.
READ MORE
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.
READ MORE
Iqrar Husain of Quippo Oil and Gas talks about delivering projects in India’s most challenging terrains and the company's investment priorities.
READ MORE
SLB OneSubsea has won a deepwater EPC contract from CNOOC for a 20-well subsea development in China.
READ MORE
China National Petroleum Corporation’s offshore oil exploration platform Bluewhale 1 was put into action on Saturday, Chinese media reported.
At 42,000 tonnes,…
READ MORE
ShanDong Dongming Petrochemical Group, the largest independent refiner in China, has signed a deal for the construction of a USD 566-million terminal in the port city…
READ MORE
TOGY talks to David Pang, Chief Executive Officer of GTE Global, about the milestones in the company’s development, its activities in China and in Southeast Asia, and…
READ MORE
The news of the past week revolved around major deals in Abu Dhabi, a fresh oil find and additional reserves in Iraq and a slew of annual results announcements.…
READ MORE
TOGY talks to Hao Rao, chairman of Beijing Zhongjiaeng Gas Technology. In May 2015, the company entered the liquefied natural gas (LNG) market. Beijing Zhongjiaeng Gas…
READ MORE
On Tuesday, rumors abound that Sinochem is looking to divest its 40% stake in the 100,000-bopd Peregrino oilfield offshore Brazil.
Sinochem purchased its share of…
READ MORE
Abu Dhabi National Oil Company on Monday awarded the remaining 4% share in the emirate’s onshore concession area, operated by Abu Dhabi Company for Onshore Petroleum…
READ MORE
China National Offshore Oil Corporation is on the hunt for FEED contractors for the company’s Lingshui 17-2 deepwater natural gas development.
Located in the…
READ MORE
Saudi Aramco has entered into an agreement with China’s North Huajin Chemical Industries Group, sources revealed on Monday.
The terms of the contract stipulate…
READ MORE
Sinochem continued preliminary deliberations with Noble Energy over the acquisition of an equity stake in the American commodity trader on Monday.
Should the…
READ MORE
