【ECF News】 China Oil Drilling Market Analysis

In the next few years, the workload of China's oil industry is expected to maintain rapid growth.

【ECF Mews】China Oil & Gas in 2018: shale gas exploration and development progressed smoothly; oil & gas exploration investment continued to rise

China's Ministry of Natural Resources released "National Oil and Gas Resources Exploration and Production Report (2018)" on Monday, concluded the country's oil & gas exploration and production status for the past year.1. Oil & gas exploration and mining investment continued to riseIn 2018, the investment in exploration and production of oil and gas (including oil, natural gas, shale gas, coalbed methane and natural gas hydrate) was 63.658 billion yuan and 203.106 billion yuan, up 8.9% and 24.7% year-on-year. 44,000km of 2D seismic survey was applied with an annual increase of 13.5%. 34,000 squ

ECF China Shale Weekly Review - July 14, 2019

ECF China Shale Weekly Review - July 14, 2019

【ECF News】Joint operations - the new picture for China oil & gas development

Following the signing of the strategic alliance cooperation agreement between PetroChina and Sinopec on June 22 and the signing of another joint research framework agreement on Monday, Sinopec and CNOOC signed a new cooperation framework agreement Wednesday.In the past three months, PetroChina, Sinopec and CNOOC have continued to carry out large-scale cooperation in onshore and offshore oil and gas basins, indicating that the domestic upstream exploration and development has ushered in a new change.Sinopec & CNOOC: Offshore CooperationOn July 10, PetroChina and CNOOC (China) Co., Ltd., a subsi

【ECF News】Accelerated technological innovation in the oil and gas industry

Author: Lv Jianzhong, Deputy Director, CNPC Economics & Technology Research InstituteAs the pace of global energy transformation continues to accelerate, the international oil and gas industry is entering an important turning point and facing a historic choice of technology-led future. International oil companies and service companies are increasingly taking technological innovation as the company's power source and lifeline. In particular, more emphasis is placed on the practicality and pertinence of technology, the drive for value creation, collaborative innovation and cross-border cooperati

Tech CNPC ECFShale Opinion 2019-07-12

【ECF News】PetroChina & Sinopec signed another major framework deal to promote oil & gas production

On July 8, PetroChina and Sinopec signed a joint research framework agreement for Tarim Basin, Junggar Basin and Sichuan Basin, involving 81 exploration rights at total acrage of 305,800 square kilometers.Under the framework agreement, affiliated companies of the two oil majors signed three joint research agreements in the Tarim Basin, the Junggar Basin and the Sichuan Basin. This marks a new phase of cooperation between the two parties in the field of oil and gas exploration technology.Just a few days ago, two oilfield companies of PetroChina and Sinopec signed a strategic alliance cooperatio

CNPC Sinopec ECFShale 2019-07-09

China Just Created A Huge Opportunity For The Oil & Gas Industry

China will remove the joint venture requirement for foreign companies wanting to enter its oil and gas industry as it moves to open up a range of industries as per a pledge it made during its continuing trade dispute with the United States.Bloomberg reports the Chinese National Development and Reform Commission had announced it would remove the joint venture requirement for oil and gas projects along with a rule stating that only local firms can control gas networks in cities with populations of over half a million people.This opens up a lot of opportunities for foreign companies who are eager

China Policy 2019-07-03

【ECF News】PetroChina and Sinopec team up to develop the Tarim Basin

On June 22, Sinopec Northwest Oilfield and PetroChina Tarim Oilfield signed a strategic alliance cooperation agreement in Korla, Xinjiang. The two sides will enhance the oil and gas exploration and development in the Tarim Basin through information sharing and joint research, and create a new situation for oil and gas exploration in the Tarim Basin. This is the first exploration and development cooperation between Sinopec and PetroChina in the Xinjiang Region.Tarim Basin is the largest oil-bearing sedimentary basin in China with an area of more than 400,000 square kilometers. After years of ex

Call for Innovators: ECF2019 Shale Technology Showcase

Seeking new shale oil & gas technologies

【ECF News】Zhang Wei was elected as vice chairman of PetroChina

At PetroChina's Annual General Meeting for the Year 2018 on Jun 13, Mr. Zhang Wei as Vice Chairman and non-executive Director of PETROCHINA COMPANY LIMITED. Zhang Wei, aged 50, is currently a board member and general manager of China National Petroleum Corporation (CNPC Group). Mr. Zhang is a senior economist with a master's degree. He has nearly 25 years of working experience in energy and chemical engineering.

SOEs CNPC 2019-06-14

【ECF News】PetroChina succeeded in the first domestic CO2/sand dry-fracturing

On May 14th, news came from the construction site of the Shuang 167 well in Changqing Oilfield that the first domestic carbon dioxide dry sand SRV fracturing was a great success, achieved a single well sanding volume of 45.2 cubic meters and a construction displacement of 6 cubic meters per minute, marking a new era of “waterless fracturing” in China.This is the first apply of CO2/sand dry-frac technology in the Yulin area of Changqing gas field. From the aspect of fracturing transformation, the technology broke through the limitations of the original stratification tools, allowing the carry o


【ECF News】CNPC: Accelerate the Construction of a 50 BCM strategic natural gas zone in Sichuan Basin

Hou Qijun, deputy general manager of CNPC, emphasized at PetroChina Southwest Oil and Gas Field Development Symposium held in Chengdu that in order to accelerate the construction of CNPC's strategic 50 BCM/year natural gas production in Sichuan Basin in the future, PetroChina Southwest Oil and Gas Field should ensure a 30 BCM/year natural gas production in the area in 2020.There has been enough resources to guarantee CNPC's 30 BCM/year gas production in Sichuan Basin in 2020. The focus of future exploration is to implement the gas resource fundation of 50 BCM/year production. Base on the disc

ANALYSIS: China's latest energy liberalization policy set to break oil and gas monopolies

China's decision to open up its oil and gas infrastructure to third parties will pave the way for the break-up of energy monopolies in the country and the creation of national pipeline companies.Operators will be required to open their facilities to all eligible users through transparent tendering processes, and to separate their pipeline business from other segments such as upstream production and sales, according to the new measures announced by China's National Development and Reform Commission on May 24.As part of this resolution, a cornerstone of Beijing's energy liberalization strategy,


New Infrastructure Could Spur Gas Demand Boost In China

China announced in March it was going to spin off the pipeline operating assets of the three state oil and gas majors and create a separate entity dedicated solely to this infrastructure. The announcement was welcomed by the local energy industry and it should also be welcomed by foreign oil and particularly gas producers.In a recent note, Credit Suisse analysts said, as quoted by Bloomberg’s Dan Murtaugh, that the pipeline asset spin-off would encourage greater competition on the natural gas market and lead to lower prices, which would in turn spur even more demand for the fuel.“We do not bel

China's ‘Game Changer’ Pipeline Reform to Supercharge Gas Demand

China’s looming pipeline reform is poised to spur competition in its natural gas industry, lowering prices and supercharging demand from the world’s top importer in years to come, according to Credit Suisse Group AG.The government is creating a national pipeline operator from the assets of its three biggest oil and gas companies. The move will break a monopoly that China’s state-owned giants have over downstream users and result in gas prices falling 10% over 2020 and 2021, the bank’s analysts including Horace Tse said in a report. The national operator is likely to be formed by August, Citigr

China Gas Pipeline 2019-06-05

Gas replacing coal in southern Xinjiang

The Tarim Oilfield in northwest China's Xinjiang Uygur Autonomous Region had sent 33.2 billion cubic meters of natural gas to the southern part of the region by May, benefiting 4 million local residents.This amount of natural gas can replace 43.16 million tonnes of standard coal, which is equivalent to a reduction of 29.88 million tonnes of harmful emissions, said PetroChina Tarim Oilfield Company Saturday.A natural gas network around the Tarim Basin has been built with four main pipelines and 19 branch lines with total length of more than 2,400 km in operation since 2013.As one of China's lar

China's natural gas apparent consumption up 11.4 pct in the first 4 months

China's natural gas apparent consumption registered robust growth in the first four months of 2019 amid efforts to fight air pollution.Apparent consumption of natural gas rose 11.4 percent year-on-year to 100.9 billion cubic meters from January to April, according to the National Development and Reform Commission (NDRC).Meanwhile, a total of 103.93 million tonnes of refined oil was consumed during the same period, down 0.3 percent year on year, NDRC said.China has been promoting efficient, large-scale use of natural gas in sectors including industrial fuel, gas-fired power and transport.The co

China Natural Gas 2019-06-03

Beijing wants more Russian gas as Gazprom’s mega pipeline to China nears completion

China is interested in extra supplies of Russian gas through the Power of Siberia pipeline which is nearing completion, according to the Russian state-run energy giant, Gazprom, that is implementing the project.“The Chinese partners are very interested in additional volumes, though the final amount as well as the price is not agreed yet,” the head of Gazprom’s export branch Elena Burmistrova said at the company’s news conference in Moscow.The top executive stressed that the Russian energy major expects formal arrangements on the issues to be reached in the near future.The Power of Siberia is a

China Natural Gas 2019-05-31

China’s April LNG supply from Australia hits record high, up 61% on year

China imported a record high 2.79 million mt of LNG from Australia in April, up 61.3% year on year, latest customs data showed, amid growing domestic gas consumption, rising Australian LNG export capacity and trade tensions between China and the US.“Chinese LNG imports are growing and without a significant influx of US LNG, they are likely going to look to other sources of supply,” said Jeff Moore, Manager, Asian LNG Analytics, with S&P Global Platts.Meanwhile, regional supply has increased on a year-on-year basis as global LNG export expansions have met weak consumption in Japan and South Kor

China LNG 2019-05-29

Russia’s Gazprom says supplies to China to reach 38 bcm in 2025

https://wenku.baidu.com/view/01e669a381eb6294dd88d0d233d4b14e84243e35.htmlRussian state gas producer Gazprom plans to supply 38 billion cubic metres (bcm) of natural gas to China in 2025, Elena Burmistrova, head of Gazprom Export, said on Tuesday.Burmistrova was speaking at a Gazprom news conference in Moscow. At the same event, she and other Gazprom officials also said the company had halted talks on supplying liquefied natural gas to Pakistan.

China Natural Gas 2019-05-29

Please leave your comment