Holiday Notice - Jan 24 - Jan 30, 2020

Holiday Notice - Jan 24 - Jan 30, 2020

ECFShale 2020-01-23

Sinopec (SNP) to Review Multi-Billion LNG Deal With Cheniere

China Petroleum & Chemical Corporation SNP or Sinopec is expected to review the terms of a $16-billion liquefied natural gas (“LNG”) deal with Cheniere Energy, Inc. LNG, per Reuters. The drop in LNG prices is expected to have triggered the review of the supply deal.Notably, while China is set to become the biggest LNG importer by the end of the decade, the United States is likely to be the largest exporter within 2025, ahead of Qatar and Australia. This makes the world’s two biggest economies a perfect fit. While China is expected to import $18.5 billion worth of U.S. energy products this year

China LNG Sinopec 2020-01-22

Chinese demand for U.S. LNG unlikely to surge as long as tariffs remain

Chinese purchases of U.S. liquefied natural gas (LNG) are unlikely to surge, despite an agreement for China to buy more U.S. energy supplies, because tariffs on gas from the United States remain in place, analysts and traders said.Under a Phase 1 trade deal between the world’s two largest economies signed this week, China has committed to buying an additional $52.4 billion worth of U.S. energy supplies, including LNG, over the next two years.But a 25% tariff imposed by China on U.S. LNG, which has pushed the price of U.S. gas above the spot market and restricted purchases, remains for now whil

China LNG 2020-01-22

China Finds Oil In Asia’s Deepest Onshore Well

China National Petroleum Corporation (CNPC) has found crude oil and natural gas in the deepest well drilled in Asia’s onshore, striking hydrocarbons in a pre-salt layer for the first time in China.The discovery was made in the Tarim oilfield in China’s northwestern region of Xinjiang in a well deep 8,882 meters (29,140 feet), which was first drilled in July last year.Production from the now spudded well in the pre-salt area is expected at 133.46 cubic meters of oil per day, while daily gas production is seen at 48,700 cubic meters, according to a CNPC statement carried by Reuters.It is rare fo

ECF China Shale Weekly Review - January 19, 2020

ECF China Shale Weekly Review - January 19, 2020

【ECF News】PetroChina shale oil and gas exploration progress and upstream business development strategy

1 Major advances in unconventional oil and gas exploration in the near future 1.1 Four major breakthroughs and new discoveries in unconventional oil and gas exploration a. A billion-ton extra-large conglomerate reservoir was discovered in the Mahu Sag, Junggar Basin. b. 1 billion ton-level shale oil Qingcheng oilfield discovered. c. A trillion bcm shale gas area has been formed. d. A new field for volcanic gas exploration opened as Yongchang 1 risk exploration well drilled in the Sichuan Basin. 1.2 Ten 100 million tons level reserves formedIn the past three y

CNPC to increase output of oil and gas

China National Petroleum Corp, the State-owned energy giant, is planning to ramp up oil and gas output to more than 200 million metric tons of oil equivalent this year, while looking to raise the share of natural gas output to a record high of 50 percent.The company announced the annual goal during its work conference for 2020 held on Tuesday in Beijing. It plans to invest 5 billion yuan ($726 million) this year on oil and gas exploration.Natural gas capacity at CNPC's Tarim Oilfield and Southwest oil and gas field will exceed 30 billion cubic meters, while shale gas production will surpass 11

CNPC 2020-01-16

USITC INSTITUTES SECTION 337 INVESTIGATION OF CERTAIN SHAKER SCREENS FOR DRILLING FLUIDS, COMPONENTS THEREOF, AND RELATED MARKETING MATERIALS from Chinese suppliers

USITC INSTITUTES SECTION 337 INVESTIGATION OF CERTAIN SHAKER SCREENS FOR DRILLING FLUIDS, COMPONENTS THEREOF, AND RELATED MARKETING MATERIALSThe U.S. International Trade Commission (USITC) has voted to institute an investigation of certain shaker screens for drilling fluids, components thereof, and related marketing materials. The products at issue in the investigation are described in the Commission’s notice of investigation.The investigation is based on an amended complaint filed by M-I L.L.C. of Houston, TX, on November 7, 2019. The amended complaint alleges violations of section 337 of t

China Petrochemical 2020-01-15

China Opens Up to Oil Majors at the Wrong Time

Broad new horizons in key markets are opening for the world’s energy companies. Don’t expect to see a land rush any time soon. China will allow all large domestic and foreign companies to apply for oil and gas exploration licenses that were previously only open to state-owned enterprises, the country’s resources ministry said at a briefing Thursday. In India, regulators will also let private and international companies bid for a group of coal blocks it’s putting up for auction starting this month, the country’s coal and mines minister Pralhad Joshi said this week, chipping away at a near-monop

ECF China Shale Weekly Review - January 12, 2020

ECF China Shale Weekly Review - January 12, 2020

Energy China Forum 2020 Recruitment Notification - International Project Officer

Energy China Forum 2020 Recruitment Notification - International Project Officer, Shanghai ChinaEnergy China ForumDowntown, Huangpu District, Shanghai, ChinaFull-timeResponsibility:1. Responsible for international project promotion, including planning, publicity and copywriting;2. Organize or provide assistance to international industry summit, global conferences and other events;3. Responsible for daily communication, marketing, maintenance and following up with global energy institute, governments, associations and energy companies;4. Responsible for market research, including industry dynam

【ECF News】Weirong Shale Gas Field phase 1 ground project completed mid-term hand over

On December 29, 2019, the first phase of ground project of the Weirong Shale Gas Field Capacity Construction Project completed mid-term hand over.The capacity construction of the Weirong Shale Gas Field is a key capacity construction project of Sinopec. The first phase of the ground project was started on July 5, 2019. The project includes a gas gathering terminal with a pipeline of 15 kilometers. It is planned to be put into operation at the beginning of January with 1 bcm/y transportation capacity.

PetroChina produces 8.03 bcm shale gas from Sichuan in 2019, up 88%

China’s state energy giant PetroChina pumped out 8.03 billion cubic metres (bcm) of shale gas in the southwestern province Sichuan in 2019, up 88% from 2018, the company said in a statement on Thursday.Daily shale gas output at the Southern Sichuan field, the biggest shale gas production base in China, reached as much as 30.97 million cubic metres, it said.The company started to drill 456 new shale gas wells in 2019, with 229 wells having been launched.A senor executive at PetroChina expected that the combined shale gas output at PetroChina and Sinopec to reach 15 bcm in 2019.

CNPC China Shale Gas 2020-01-09

China opens up oil and gas exploration, production to foreign firms

China will for the first time allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants as Beijing looks to boost domestic energy supplies.The long-awaited opening comes alongside Beijing’s reshuffle in the so-called “midstream” pipeline business, but experts say the policy relaxation may not draw immediate interest from international drillers due to overall poor asset quality of China’s hydrocarbon resources.From May 1, 2020, foreign firms registered in China with net assets no lower than 300 million yuan

China Policy 2020-01-09

China imports record LNG volumes in Dec, overtakes Japan for second month

China imported a record high monthly volume of liquefied natural gas (LNG) in December, overtaking Japan as the world’s top importer of the fuel for a second consecutive month, ship tracking data from Refinitiv Eikon showed on Tuesday.China imported 7.198 million tonnes of LNG in December, up nearly 16% from November, while Japan shipped in 6.574 million tonnes last month, up nearly 7% from the previous month, the data showed.China only slightly overtook Japan’s volumes of LNG imports for the first time in November, but greatly exceeded its neighbour’s volumes in December, according to the dat

China LNG 2020-01-07

ECF China Shale Weekly Review - January 5, 2020

ECF China Shale Weekly Review - January 5, 2020

【ECF News】China's oil and gas industry policy will enter a implemention stage in 2020

In 2019, the policies and regulations related to the reform of the oil and gas industry promulgated at the national level mainly involve the open of market access, market supervision, system reform, and price reform, and rarely involved industrial development and planning. The policies and regulations related to the oil and gas industry introduced in 2019 are basically based on the "big reform of the entire industrial chain".The year of 2020 is the ending year of the 13th five year plan period. After the first two years of top-level design, this year can be said to have truly entered the "comp

China Policy 2020-01-03

China Discovered More than 1.8 Billion Tonnes of New Oil Reserves in 2019

China's national oil corporation, the country's largest oil and gas supplier, discovered a record high of 1.84 billion tonnes of reserves in 2019.More than 1 million tonnes of oil have been found in the Ordos basin, while over 1 trillion shale gas have been explored in the Sichuan and Tarim basins.According to the company, the results are due to intensive research and technological innovations.

China's comprehensive LNG import price rises last week - Dec 31

China's comprehensive import price index for liquefied natural gas (LNG) rose last week, according to Shanghai Petroleum and Natural Gas Exchange (SHPGX).The LNG index, not including tax, came in at 3,304 yuan (about 473 U.S. dollars) per tonne from Dec. 16 to 22, up 4.92 percent from the previous week.The index, jointly developed by a monitoring center under the General Administration of Customs and the SHPGX, was launched on Oct. 16, 2019 and is due on a weekly basis to offer a new pricing reference for importers.

China LNG 2019-12-31

ECF China Shale Weekly Review - December 29, 2019

ECF China Shale Weekly Review - December 29, 2019

2019-12-30
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