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China Sets Oil, Gas Supply Targets by 2020

Jan 20, 2017

China aims to increase domestic crude oil output to 200 million tonnes by 2020, while supply capacity for natural gas should exceed 360 billion cubic meters, according to plans published Thursday. China will add 1 billion tonnes of proven ...

Tags: Oil, Gas

Shell Announces Successful Bid for Giant Field in Deep Water Brazil

Dec 10, 2016

“The Libra oil discovery in Brazil is one of the largest deep water oil accumulations in the world. We look forward to applying Shell’s global deep water experience and technology, to support the profitable development of this ...

Tags: Shell, oil discovery

Shell and CNPC Agree on Global Cooperation and Establish Well Manufacturing JV

Dec 10, 2016

The two parties also signed a Shareholders Agreement to establish a Well Manufacturing joint venture (50% CNPC and 50% Shell) subject to further corporate and government approvals. It is intended that the joint venture will develop an ...

Tags: Shell, CNPC

Shell Signs New Upstream Deals with CNOOC and CNPC

Dec 9, 2016

The two offshore oil and gas PSCs with CNOOC are for blocks 62/02 and 62/17 in the Yinggehai Basin. Shell, as operator, will apply advanced seismic acquisition and processing technologies to conduct 3D seismic data surveys in the Yinggehai ...

Tags: Shell, oil and gas, seismic data

Beijing Expected to End Oil Product Export Quotas

Dec 7, 2016

China's independent refineries likely have to rely on state-owned trading companies to export oil products in 2017 as Beijing is likely to stop awarding them quotas to export directly, informed sources said Friday. "It [stopping awarding ...

Tags: Oil Product, Refiners

China's Price Move Signals Discomfort with Plunge

Dec 21, 2015

The Chinese government Tuesday refrained from adjusting retail oil product prices in line with global crude oil fluctuations for the first time in nearly three years, sending a strong signal to the market that it believes prices may have ...

Tags: oil product, crude oil

China, Russia Sign Over 30 Deals During Medvedev Visit

Dec 18, 2015

Chinese Premier Li Keqiang (R) holds a welcoming ceremony for Russian counterpart Dmitry Medvedev for the 20th China-Russia Prime Ministers' Regular Meeting in Beijing on Dec. 17, 2015. [Photo: gov.cn] China and Russia signed more than 30 ...

Tags: energy, investment, finance, bilateral cooperation

China, Russia Sign 30 Cooperation Documents

Dec 18, 2015

Chinese Premier Li Keqiang (R) and Russian Prime Minister Dmitry Medvedev meet the press after the 20th China-Russia Prime Ministers' Regular Meeting in Beijing, capital of China, Dec. 17, 2015. [Photo: Xinhua] China and Russia signed ...

Tags: oil, gas, financial cooperation

China May Apply Brakes to Strategic Oil Reserve Growth

Dec 16, 2015

After more than doubling its strategic oil reserves since last year, China may apply the brakes to its buying spree as storage availability is expected to be limited, while a climate of depressed prices will reduce any urgency to snap up ...

Tags: Oil Reserve, crude, oil price

China Starts up New Shale Gas Pipelines for Output

May 14, 2015

China's state-owned oil giants Sinopec and China National Petroleum Corp. this month started up dedicated shale gas pipelines that will facilitate deliveries from the only commercial shale gas projects in the country to date as the ...

Tags: Shale Gas, Pipelines

China's Mar. Natural Gas Pipeline Imports up 41.3%

Apr 26, 2015

China imported 1.98 million mt of natural gas via pipeline in March, 41.3% higher than the same month last year, detailed data from the General Administration of Customs showed Thursday. The customs department reports natural gas trade ...

Tags: natural gas, gas pipeline

Capacity Should Be Expanded to Increase The Nation's Strategic Energy Reserves

Mar 12, 2015

Underground natural gas storage capacity should be expanded to increase the nation's strategic energy reserves and ensure supply, said a senior official from China Petrochemical Corp (Sinopec), the country's biggest refiner. Sun Jian, ...

Tags: Underground Gas, Energy Security'

The First Round of Oil Product Export Quotas for 2015

Jan 17, 2015

China this week issued the first round of oil product export quotas for 2015, with volumes totaling 9.75 million mt, industry sources said Wednesday, January 14. This is significantly more than the roughly 8 million mt of quotas that were ...

Tags: Oil Export, Crude Oil

Chinese Oil Companies Prompted to Reduce Output

Jan 11, 2015

Rising production costs and falling global crude prices are prompting Chinese oil companies to reduce output and explore other options for sustainable profit growth in the long term, a leading industry expert said on Tuesday. Part of the ...

Tags: crude prices, Crude Oil

China's Largest Oilfield to Cut Output Next Year

Jan 1, 2015

China's largest oilfield, the Daqing Oilfield, in northeast China's Heilongjiang province is expected to cut 1.5 million tons of output next year to stay in line with the new production schedule of the China National Petroleum Corporation ...

Tags: Oilfield, crude oil

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