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
Venezuela has secured a loan from China worth $5 billion to aid the country’s oil industry.
President Nicolas Maduro, speaking in Beijing during a tour to promote…
READ MORE
Offshore drilling contractor Seadrill has had to delay delivery of 10 newbuilds, owing to a contract drought resulting from a depressed global drilling…
READ MORE
The CEO of French multinational electric utility Engie’s local branch, Manlio Alessi Remedi, talks to TOGY about the conditions that are necessary for the expansion…
READ MORE
Heavy oil appraisal and development company Xcite Energy is slashing costs at its stalled Bentley offshore oilfield development in the UK North Sea, as contractor rates…
READ MORE
Oil prices dropped to new lows in Asian trade on Monday, aligning with a wider selloff as stock markets slid in the region and a number of currencies fell to new…
READ MORE
Mexico’s National Hydrocarbons Commission has pre-qualified 14 bidders on five development blocks for the second phase of the Round One tender, the country’s first…
READ MORE
Premier Oil has issued a call to bidders for a drilling contract for the UK independent’s Vette development offshore Norway. The tender, said to be worth around…
READ MORE
The offshore division on US engineering conglomerate Fluor has entered a joint venture with China’s Offshore Oil Engineering Company (COOEC). The deal will see Fluor…
READ MORE
Primeline Energy Holdings has tapped China Oilfield Services for its upcoming exploration project in western Lishui Basin in the East China Sea. The turnkey drilling…
READ MORE
Malaysian Prime Minister Najib Razak announced Tuesday that Malaysia and Brunei had reached an agreement regarding oil and gas exploration in deepwater blocks CA1 and…
READ MORE
