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
The managing director of ONGC Videsh, N.K. Verma, tells TOGY about India’s New Exploration Licensing Policy (NELP) and the technological capabilities of India’s…
READ MORE
Savannah Petroleum has identified 14 drill-ready prospects in its onshore acreage in southeastern Niger through an analysis of 3D-seismic data, the UK-headquartered…
READ MORE
International Gas Union president Jérôme Ferrier tells TOGY about the convergence of global gas prices, the growing importance of LNG, and the place of Qatar as a…
READ MORE
ExxonMobil has found oil offshore Guyana, the Reuters news agency reported on Thursday.
The discovery was made in the Stabroek block, which is situated in a region…
READ MORE
Tan Tat Thong, international banking and syndication division general manager for Commercial Bank of Kuwait, has told TOGY the bank plans to see the yuan become…
READ MORE
Peru’s rivers are decisive factors in the success or failure of hydrocarbons companies looking to profit from oil and gas exploitation in the Amazon basin, as well as…
READ MORE
Iran launched its 20th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran on Wednesday amid a push to woo international oil companies back to the…
READ MORE
Chinese oil and gas players Sinopec and PetroChina have dismissed reports about merger plans, after recent reports from Chinese and foreign media indicated that the…
READ MORE
Russian state-controlled Gazprom is expected to face antitrust charges from EU competition regulators on Wednesday, Reuters has reported. The Russian energy company…
READ MORE
Technip has been awarded the front-end engineering and design (FEED) contract for China’s first tension-leg platforms.
The contract was given to the French company…
READ MORE
