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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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 suspended plans to launch its own crude futures contract that would have been listed on the Shanghai International Exchange (INE), sources revealed on Friday.…
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Korea Gas Company (Kogas) has green lit investment in Mozambique’s Area 4 Coral South floating LNG (FLNG) project, a note published on Thursday read.
Kogas has…
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TOGY talks to James Gao, managing director of Beijing Sino-Sphere Petrochemical Technologies, about new technologies that are having a large impact on the downstream…
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CNOOC Limited is planning capital expenditures between USD 8.73 billion and USD 10.2 billion, the company revealed in its business development strategy for 2017 on…
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Abu Dhabi Company for Onshore Petroleum Operations (Adco), established in 1960 and led by Saif Ahmed Al Ghafli, operates as a subsidiary for the Abu Dhabi National Oil…
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Iranian and Chinese officials are expected to sign a deal worth USD 3 billion for upgrades to Iran’s refining capacity next month.
Iranian media quoted Abbas…
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China National Offshore Oil Corporation (CNOOC) late on Tuesday announced the start of production at the Enping 23-1 oilfields.
Situated in the Pearl River Mouth…
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China’s National Development Reform Commission (NDRC) on Tuesday released a five-year report that projects a 7% drop in domestic crude oil production to 1.47 billion…
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China imported 8.57 million bopd in December 2016, its highest level on record, data compiled by Chinese General Administration of Customs on Friday showed.
The…
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Iran will hold its first tender for an oilfield development using the Iranian Petroleum Contract in February, an official said earlier this week.
The tender is for…
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