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

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

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

【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 Set to Add 1.2 Billion Tonnes to Proved Petroleum Reserves This Year

China expects to add 1.2 billion tonnes to its proved petroleum reserves in 2019, 25% more than was added in 2018, the official Xinhua news agency said, citing an industry conference.The country also expects to add new natural gas reserves of 1.4 trillion cubic metres, 68% more than it added last year.Crude oil production is seen reaching 191 million tonnes (£36.77 billion), according to Xinhua.China will accelerate ocean and deep water oil and gas exploration in 2020, it added, after investment in upstream exploration and developments was seen reaching 332.1 billion yuan ($47.18 billion) this

China Crude Oil 2019-12-18

【ECF News】Sinopec Made Major Breakthrough at Rotational Steering Technology

On November 29, 2019, SINOMACS ATS I rotary steering equipment independently developed by Sinopec Shengli Petroleum Engineering Co., Ltd.'s MWD technology center successfully tested in Shengli oil field, marking a major breakthrough for Sinopec's rotary steering technology.For a long time, global oil service companies such as Schlumberger, Baker Hughes, and Halliburton have always occupied the high-end technical service market with their rotary guidance systems. Some domestic companies are conducting research and development, but have not yet formed large-scale application capabilities.Sinopec

Tech Sinopec 2019-12-13

China Oct crude oil output flat, gas up 8.2% y/y -stats bureau

China’s October crude oil output was flat to a year earlier at 16.11 million tonnes, data from the National Bureau of Statistics showed on Thursday.Natural gas output in October rose 8.2% from the same month last year to 14.6 billion cubic metres, the data showed.

2019-11-15

【ECF News】China oil giants signed over 80 billion USD during import EXPO

The 2nd China International Import Expo was held in Shanghai during Nov 5-10.More than 3,000 companies from more than 150 countries and regions participated in the exhibition.On November 6, the China Petroleum International Cooperation Forum and signing ceremony on the theme of “cooperative innovation and value creation” was held by CNPC in Shanghai. CNPC signed strategic cooperation agreements with SNAM and Schlumberger, and signed 21 procurement contracts with over 20 overseas suppliers including Kazakhstan Gas Transport, Saudi Aramco, Kuwait Petroleum, ABB, Schlumberger, Caterpillar, Honeyw

2019-11-12

China's energy supply maintains steady growth in first nine months

China has posted stronger capability of securing energy supply in the first three quarters of this year, according to the National Energy Administration (NEA) Tuesday.The output of crude oil stood at 143 million tonnes in the Jan.-Sept. period, up 1.2 percent year on year and ending a falling streak for three years in a row, while the natural gas production grew at a faster pace, increasing by 9.5 percent to 127.7 billion cubic meters, said Song Wen, deputy director of the development and planning office of the NEA.In the same period, China added 64.55 million kilowatts of power generation cap

New law gives China’s regions power to tax resources

Chinese legislators have approved a law that will give local governments the authority to tax as many as 164 resources, including fossil fuels, minerals and eventually water, the Ministry of Finance said on Monday.The National People’s Congress, China’s top legislature, approved the resource tax law, which would take effect in September next year, the ministry said.Officials said it would not raise the overall taxes on local companies.Major resources such as crude oil or rare earths would remain subject to a fixed tax rate set by the central government, but local authorities would be able to a

China Policy 2019-08-29

【ECF News】Because you're worth it! CNPC launches three-star shared apartment for oilfield workers

Because you're worth it

【ECF News】China NEA Director: Establish "14th Five-Year" Energy Plan ASAP; Accelerate More Oil and Gas Supporting Policies

On August 13, Zhang Jianhua, director of the National Energy Administration, wrote a signed article "Promoting the high-quality development of energy industry in the new era (in-depth study and implementation of Xi Jinping's new era of socialism with Chinese characteristics)" in China's official newspaper People's Daily.The article pointed out that the energy development plan during the "14th Five-Year" and a longer period of time should be established as soon as possible, and the guiding opinions for promoting the high-quality development of the energy industry should be formulated. It is nec

2019-08-14

【ECF News】Summary of new technologies in major oil fields of PetroChina (1H 2019) - Part II

Dagang OilfieldTechnology: key technology for fine layered water injection in sand-flow and high pressure deep reservoirEffect: The project overcomes the technical problems of dispensing in HTHP deep inclined wells. The overall technology has reached the international advanced level. And the multi-stage dispensing and inspection & sealing technology in HTHP deep inclined wells has reached the international leading level.Low-maturity shale oil cementing technology in Jilin OilfieldTechnology: supporting pre-stressed cementing & completion technologyEffect: The low-maturity shale oil reserves in

ECF China Shale Weekly Review - August 11, 2019

ECF China Shale Weekly Review - August 11, 2019

【ECF News】Summary of new technologies in major oil fields of PetroChina (1H 2019) - Part I

Summary of new technologies in major oil fields of PetroChina (1H 2019) - Part I

Tech CNPC 2019-08-09

【ECF News】Oil & gas exploration and development in China: why is it difficult for new entrants?

Oil & gas exploration and development is a high-risk industry. Hundreds of millions could be invested with nothing coming out. Therefore, engaging in oil and gas exploration and development requires sufficient financial strength and anti-risk ability, in addition to the corresponding technology and experience. In these respects, many new entrants are seriously inadequate compared with the oil majors.As China's oil and gas system reform continues to deepen, the opening door to oil and gas exploration and development is also widening.From the Ministry of Natural Resources's (formerly the Ministr

【ECF2019】CO2 Fracking vs Water Fracking: Cost & Applicability in China - To Be Presented on Sep 25-27, Shanghai, China

ECF2019 9th Asia-Pacific Shale Gas & Oil Summit

Top
Message

Please leave your comment

Name*
Tel*
Email*
Company*
Message*
提交