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
Missan Oil Company, the national oil company overseeing production in Iraq’s Maysan province, will develop the Howaiza field in 2017, the Ministry of Oil said on…
READ MORE
TOGY talks to Xia Tongmin, Kerui Petroleum’s deputy chairman, about the group’s many businesses that are responsible for providing products and services to the…
READ MORE
Mexico held its highly anticipated deepwater bidding round on Monday night, with BHP Billiton becoming Pemex’s first-ever international partner.
The Australian…
READ MORE
Venezuela will supply natural gas to Trinidad and Tobago from its offshore Dragon field under a deal signed by the leaders of the two nations in Caracas on…
READ MORE
TOGY talks to B. C. Tripathi, chairman and managing director of GAIL, about the company’s current operations, the rise of LNG in India and opportunities for investors…
READ MORE
Mexico’s National Hydrocarbons Commission on Monday disclosed the final list of the 17 certified bidders to take part in its first-ever auction of deepwater…
READ MORE
China officially launched the Shanghai Petroleum and Natural Gas Exchange (SHPGX) over the weekend in a bid to establish an internationally recognised trading…
READ MORE
Cheniere is preparing to start shipping LNG from its Sabine Pass terminal in Louisiana through the Panama Canal to Asia, a company official told journalists on…
READ MORE
The administration of outgoing US President Barack Obama announced on Friday that it was rolling back development plans in the Arctic Ocean, triggering calls on…
READ MORE
Venezuela will draw USD 2.2 billion from its credit line with China in an effort to raise production from its projects with China National Petroleum Corporation (CNPC),…
READ MORE
