China now taking 28% of Venezuela oil production to repay debt

Venezuela only paid the interest on $19 billion in loans from China for the past two years. Some sources say the outstanding debt is $23 billion and other reports $50 billion in loans.

Global Market China Investment 2018-07-19

China’s crude import growth slips into the red; may fall further

The pace of growth in China’s crude imports may slow in H2 as a cocktail of lower runs at independent refiners, potential delays in the start up of some refineries and higher inventories curb the appetite for cargoes by Asia’s largest oil consumer.

China Oil Import 2018-07-18

China's crude oil output falls 2.3 pct in June

China's crude oil output fell 2.3 percent year on year in June, data from the National Bureau of Statistics (NBS) showed Monday.

China Crude Oil 2018-07-17

China's June Crude Imports at 6-mth Low as 'Teapot' Buying Slows

China's crude oil imports fell for a second month in a row in June to the lowest since December, as shrinking margins and volatile oil prices led some independent refiners, known as "teapots", to scale back purchases.

China Oil Import 2018-07-16

China willing to invest $3 bln in Nigerian oil operations -NNPC

China National Offshore Oil Corp (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

China Investment 2018-07-16

Chinese Oil Demand Growth Could Slow Down Soon

Oil demand growth in the world’s biggest oil importer—China—is at risk of slowing down, at least in the coming months.

China Crude Oil 2018-07-16

China-made flow meter to replace foreign versions for oil, gas mining at lower cost

China has successfully developed an underwater wet gas flow meter that is expected to replace imported ones in the development of deep sea oil and gas fields, its developer said.

Tech 2018-07-12

Chinese Refiner Stops U.S. Oil Imports, Turns To Iranian Crude

An independent Chinese refiner has suspended crude oil purchases from the United States and has now turned to Iran as one of its sources of crude, media reports, citing an official from the refiner, Dongming Petrochemical Group.

China Oil Import 2018-07-10

CNPC, ADNOC Close To Signing Exploration, Refining Deal

China National Petroleum Corporation (CNPC) and the Abu Dhabi National Oil Company (ADNOC) are expected to sign as early as this month a preliminary deal to invest in oil and gas exploration and refining, Reuters reported on Friday, quoting sources in the know, including CNPC officials.

CNPC 2018-07-09

China issues second batch of 2018 crude oil import quotas: sources

China has issued a second batch of crude oil import quotas for independent refiners and some trading companies with a total volume of 11.91 million tonnes, three trade sources said on Thursday, citing official documents.

China Oil Import 2018-07-06

China Throws Venezuela’s Oil Industry A $5B Lifeline

China’s Development Bank has approved a US$5-billion loan for Venezuela’s oil industry, Bloomberg reports, quoting the troubled South American country’s Finance Minister Simon Zerpa.

China Investment 2018-07-05

CNOOC Signs a PSC with Roc Oil and Smart Oil

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed a production sharing contract (PSC) with Roc Oil (Bohai) Company (Roc Oil) and Smart Oil Investment Ltd. (Smart Oil) for Weizhou 10-3W oilfield and Block 22/04 (contract area) in the Sout

Offshore Exploration CNOOC 2018-07-05

CNOOC signs production sharing agreement with Roc Oil and Smart Oil

CNOOC Limited announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed a production sharing contract (PSC) with Roc Oil (Bohai) Company (Roc Oil) and Smart Oil Investment Ltd. (Smart Oil) for Weizhou 10-3W oilfield and Block 22/04 in the South China Sea.

2018-07-04

China Oil stores Omani crude at Dalian

Chinaoil has shifted around 500,000 barrels of Oman crude into storage in China’s northeastern port of Dalian for likely use as physical settlement for crude oil futures on the new Shanghai International Energy Exchange (INE), state-owned parent China National Petroleum Corp. (CNPC) said on June 22.

China Oil 2018-07-03

ExxonMobil hires crude trader in Singapore for China oil sales -sources

Crude oil trader Michael Huang is expected to join Exxon Mobil Corp in Singapore soon as the U.S. major expands its trading team to sell its oil into China, the world’s top importer of the commodity, three industry sources said.

Global Market 2018-07-03

BP Holds Millions Of Barrels Of Oil Off China As Demand Falters

Four supertankers chartered by energy major BP have been held up or delayed off China's east coast over the last two months, unable to fully discharge oil as slowing demand from the country's private refiners starts to impact global markets.

China Oil Import 2018-07-02

Stranded BP Cargoes: A Red Flag For Chinese Oil Demand?

Four BP-chartered supertankers containing a total of 8 million barrels of oil have been held up off China’s east coast over the past two months, in a sign that slower demand from independent refiners may have caught traders off guard, Reuters reported on Friday, citing shipping data and trading and

China Oil Import 2018-07-02

China further eases foreign investment curbs in free trade zones

China on Saturday further relaxed restrictions imposed on foreign investment in its free trade zones, in the latest step to fulfill its promise to open up the economy.Publishing a revised ‘negative list’ for investment in the zones, the National Development and Reform Commission (NDRC), China’s top economic planner, said curbs in oil and gas exploration, nuclear fuel production and telecommunications would be eased.Foreign investors will no longer have to conduct oil and natural gas exploration and development through joint ventures, and a ban on foreign investment in production of nuclear fue

China Policy 2018-07-01

FACTBOX-China's revised negative list for foreign investment

BEIJING - China unveiled on Thursday a long-anticipated easing of foreign investment curbs on sectors including banking, the automotive and heavy industries, and agriculture as Beijing moved to fulfil its promise to open its markets further. Below is the new version of the so-called negative list that sets out industries where foreign investment is limited or prohibited. The new list no longer classifies sectors as "restricted" and "prohibited". It will take effect on July 28. Old list New list Restricted Breeding of new crop Breeding of new crop varieties varieties, seed production and seed p

China Policy 2018-07-01

Mongolia produces over 3 mln barrels of crude oil in H1

Currently, Mongolia exports crude oil to China and imports petroleum products from Russia.

Global Market 2018-06-28