【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.

Service Opinion China Policy CNPC Sinopec CNOOC ECFShale China Shale Gas 2019-07-18

【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

Tech China Policy ECFShale China Shale Gas 2019-07-17

ECF China Shale Weekly Review - July 14, 2019

ECF China Shale Weekly Review - July 14, 2019

Opinion CNPC Sinopec CNOOC ECFShale China Shale Gas 2019-07-15

【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

Opinion China Oil Exploration SOEs CNPC Sinopec CNOOC 2019-07-12

【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

Wood Mackenzie comments on policy developments in China's upstream sector

Wood Mackenzie has issued the following comment on policy developments in China's upstream sector:Yesterday [30 June], China’s National Development and Reform Commission issued the Special Management Measures for Foreign Investment Access (Negative List) (2019 Edition). This removes restrictions on foreign companies to joint-venture and/or cooperate with Chinese enterprises when investing in new oil and gas exploration and development activities.Wood Mackenzie believes more regulatory changes that will specify how these rules will work in practice are on the way.Further incentives and/or acrea

2019-07-02

China to Ease Ownership Rules on Oil Exploration, City Gas

China is easing foreign access to a range of industries including oil, mining and city gas pipelines as the government follows through on pledges to open up to overseas investors.China will scrap the need for joint ventures in oil and gas exploration, and for domestic control of gas networks in cities with more than 500,000 people, the National Development and Reform Commission said on its website Sunday. The statement formed an update to the commission’s so-called negative list of industries where overseas investors are restricted or banned.The new rules take effect July 30. The commission sa

China Investment China Oil Exploration China Policy 2019-07-01

【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

China Exploration CNPC Sinopec 2019-06-27

Call for Innovators: ECF2019 Shale Technology Showcase

Seeking new shale oil & gas technologies

Tech Service China Shale Oil ECFShale China Shale Gas 2019-06-17

【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

PetroChina Xinjiang Oilfield produces over 100 million tonnes of heavy crude oil boosted by innovative technologies

The Xinjiang branch of PetroChina, China's largest oil and gas producer, said it had so far churned out more than 100 million tonnes of heavy crude oil, thanks to its innovative technologies.The Xinjiang Oilfield Company said that it produced 4.32 million tonnes of heavy crude oil last year and has become China's largest production base for high-quality naphthenic base heavy oil, a rare raw material for industrial products such as rocket propellant and cold-resistant engine oil.Qian Genbao, chief technical expert with the company, said that technological innovations have helped the company rai

2019-06-11

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,

2019-06-10

【PR】 Recent discoveries and E&P progress in Malaysia offshore deepwater blocks

Sarawak Shell Berhad (SSB) and Sapura Exploration and Production (SEP) have both contracted McDermott International Inc. to provide transportation and installation of offshore structures, pipelines, and pre-commissioning work for the Pan Malaysia field development off Sarawak, Malaysia.This year, the project of Pan Malaysia Field Development will be discussed at Deep Offshore Southeast Asia Congress 2019 (July 2-3, 2019 | Jakarta, Indonesia). You can know more details information. If you want to know more, please click here to register now.Also we will invite Petronas to at

2019-05-29

【ECF News】China NEA Says to Increase the Intensity of Oil, Gas E&P, Earges Majors to Stick to 2019-2025 Plans

On May 24th, the National Energy Administration organized a video conference on promoting oil and gas exploration and development in Beijing. NEA heard reports on the exploration and development of four oil majors including PetroChina, Sinopec, CNOOC and Shaanxi Yanchang Petroleum. The Ministry of Natural Resources and the relevant department of the National Energy Administration reported the progress of the work of the department.NEA pointed out that in order to further implement the work of oil and gas exploration and development in 2019 and in the following years, oil companies should imple

China Oil Exploration CNPC CNOOC ECFShale 2019-05-28

【PR】The 13th discovery on the Stabroek Block of Hess Corporation will be discussed at Offshore Caribbean Congress 2019

Hess announced a new discovery offshore Guyana at the Yellowtail-1 well last week, marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated gross discovered recoverable resource of more than 5.5 billion barrels of oil equivalent on the Stabroek Block which will be discussed at Offshore Caribbean Congress 2019 (July 4-5, 2019 | Georgetown, Guyana). So if you want to know more, please join us now. At the same time, Chris VanBrummen , Exploration Director, Guyana, Suriname, Hess Corporation has confirmed to attend Offshore Caribbean Congress 2019

Global Market 2019-05-27

【PR】3rd Offshore India Congress 2019

Event Date : 19-20th Sept. 2019 Location : New Delhi, India Weblink: http://szwgroup.com/offshore-india-congress-2019/index.aspx 3rd Offshore India Congress 2019 event aims to be the timeliest offshore event platform for global stakeholders to success in and around India, by exploring new offshore investment potentials in the region, revealing untapped resource from current geoscience studies, introducing pricing and development strategy, updating latest progress of on-going and planned offshore projects, showcasing innovative and digital technologies to enhance E&P efficiency, together with

Offshore Exploration 2019-05-22

China not signing deals to buy U.S. crude oil: Enterprise CEO

Chinese companies looking to sign long-term agreements to buy crude oil from U.S. oil exporters have virtually disappeared, the chief executive of Enterprise Products Partners LP said on Tuesday.The United States and China have been embroiled in an increasingly bitter trade dispute for nearly a year, and it escalated recently with the U.S. imposition of 25% tariffs on $200 billion of Chinese goods.The trade war has all but shut down shipments of U.S. crude to China, and it is unlikely Chinese buyers will sign long-term offtake agreements with U.S. crude exporters right now, Enterprise CEO Jim

China Oil Import 2019-05-22

China posts rising crude oil output in first four months

China's crude oil output edged up 0.6 percent year on year to 63.06 million tonnes in the first four months, according to official data.In April alone, the crude oil output rose 0.6 percent year on year to 15.71 million tonnes, with the growth rate down 1.5 percentage points from March, data from the National Bureau of Statistics (NBS) showed.Meanwhile, China's crude oil imports expanded faster last month, surging 10.8 percent from the same period of previous year to 43.73 million tonnes.The amount of processed crude oil saw a 5.1-percent increase year on year in April, with a daily average pr

China Oil Output 2019-05-21