Shanxi to open resources to coalbed gas exploration, development -Xinhua

China's coal producing hub of Shanxi province will open its hydrocarbon resources to coalbed gas exploration and development.

Coal miner in China's Shanxi aims to boost 2018 coalbed gas output by 25 pct

Shanxi province’s state-run coal mining business plans to increase coalbed methane (CBM) output by a quarter this year, an official told Reuters on Friday, as China’s second-largest coal-producing region looks to boost clean fuel output.

China Gas China Coal 2018-03-12

China To Consolidate Energy Industry Authority In New Ministry

China’s government plans to consolidate its energy industry authority into a new ministry, to replace the National Energy Administration, unnamed sources told Reuters. The NEA was set up ten years ago as a unit of the National Development and Reform Commission—the authority in charge of economic pla

China Policy 2018-03-09

China speeds up research on combustible ice in S.China Sea

China has launched all-out research efforts into industrial production of combustible ice, a potential game-changer in the fossil fuel industry already identified as occurring naturally in the East and South China seas.

Tech Gas Hydrates 2018-03-08

CERAWEEK-Mexico's Pemex eyeing partners for heavy oil projects -CEO

Mexico’s state-run Pemex might bring partners into two heavy crude oilfields in the Gulf’s shallow waters, the company’s chief said on Tuesday, a move that could help ease a lack of heavy barrels in the Atlantic basin.After nine bidding rounds in just three years and with a presidential election scheduled in July, Mexico’s oil regulator has started a campaign to convince Pemex and foreign investors that this is the moment to develop much needed extra-heavy oil reserves.“We are looking to increase production, including heavy crude, so we might put on the table some farmouts mainly for those fie


CERAWEEK: Pemex Seeking Allies For Deepwater Blocks Won In Auction - CEO

HOUSTON - Mexico's state-run oil company Pemex plans to reach out to existing partners to form new joint ventures for a pair of deepwater blocks it won in a January auction, the company's chief told Reuters on Monday.Pemex is running out of time to find partners for key oil and gas projects as the government looks to show progress from its energy agenda ahead of a July presidential election. The oil company is relying on foreign capital to reverse declining output and refining amid an ambitious energy reform.Finding partners willing to take part in the ventures "has indeed taken more time than


CERAWeek: Nigeria has lost US export market - oil minister

Nigeria has forever lost the United States as a significant crude export market, Nigeria's oil minister said Monday."That's gone," Emmanuel Kachikwu said during a news conference at CERAWeek by IHS Markit.Light sweet Nigerian crude is very similar to the light oil produced in US shale. As US shale production has grown, the appetite for Nigerian crude in the US has dropped dramatically.US imports of Nigerian crude climbed as high as 1.31 million b/d in February 2006, according to the US Energy Information Administration. But as the US shale revolution began and output of light tight oil rose, N


CERAWeek: First US ANWR oil sale could be held in 2019 - US senator

The Interior Department could hold its first lease sale for drilling in the Coastal Plain of the Arctic National Wildlife Refuge a soon as 2019, US Senator Dan Sullivan, an Alaska Republican, said Monday.During an appearance at CERAWeek by IHS Markit, Sullivan said top officials with the Interior Department were in Alaska this week to determine different aspects of the planned ANWR lease sale, including the timing of the sale.Sullivan said that Interior officials have offered no timeline for the sale, which was approved as part of the sweeping tax reform bill President Donald Trump signed into


CERAWeek: Lack of offshore investment will impact future oil supply - Hess

Shale oil is expected to double its market share of global crude supply to an estimated 10% within five years, but the lack of investment offshore during the industry downturn in 2015 and 2016 could begin having an impact in that same period, the CEO of Hess Corporation said Monday.Global exploration, which consumed $100 billion of capital in 2014, is now down 60% to $40 billion, and that figure has been steady for the last three years, CEO John Hess said at the CERAWeek by IHS Markit conference."Last year was the lowest level of resources added from exploration in the last seven years," he sa


Oil Boom-Bust Cycles Shrinking, Conoco CEO Says: CERAWeek Update

It’s Day 2 at CERAWeek by IHS Markit, the five-day gathering in Houston of some of the energy industry’s biggest names. Tuesday’s highlights include appearances by the CEOs of Saudi Aramco, BP Plc and ConocoPhillips. Shale, the future of petroleum demand, and low-carbon technologies are among the recurring themes for industry executives and government ministers alike.We will be following developments here in real time. Time stamps are Houston.Boom-Bust Cycles in Oil Tightening: Conoco CEO (10:47am)The ups and downs in crude markets are getting steeper and faster, increasing the challenges expl

Global Market Opinion 2018-03-07

CERAWeek: Total Plays To Strengths To Create Value Without Permian

HOUSTON—The Permian Basin may be the crown jewel of soaring U.S. oil production as the industry closely watches the moves of shale players in the basin, but France-based Total is taking a pass for now unlike some of its larger peers like ExxonMobil and Chevron.

Global Market Opinion 2018-03-07

CERAWeek -- US regulators now a partner to oil and natural gas producers: Zinke

US Interior Secretary Ryan Zinke told a major energy conference Tuesday that the Trump administration was actively working to boost oil and natural gas production by easing regulation and opening up more federal lands and waters to drilling."Interior should not be in the business of being an adversary, we should be in the business of being a partner," Zinke said at CERAWeek by IHS Markit. "We shouldn't prevent production."Other Trump administration officials, including Environmental Protection Agency Administrator Scott Pruitt, have offered similar sentiments in public settings over the last y

Global Market Opinion 2018-03-07

CERAWeek: Russia not joining OPEC, but wants relationship maintained - minister

Russia is not seeking to become a member of OPEC, but will continue working closely with the producing group even after the ongoing supply cut agreement ends, Aleksey Texler, Russia's first deputy minister of energy, said Tuesday."At present it is clear that the kind of cooperation that we're having will continue even if a slightly different format," Texler said through a translator at CERAWeek by IHS Markit. "The need to work together is obvious."That work could look like the ongoing 2016 supply cut agreement OPEC launched with 10 non-OPEC allies led by Russia. This agreement has created a "n

Global Market Opinion 2018-03-07

CERAWeek -- Producers have embraced oil price volatility: ConocoPhillips CEO

The global oil market has found balance as producers have grown accustomed to more rapid price swings, Ryan Lance, chairman and CEO of ConocoPhillips, said Tuesday."We've just decided to embrace volatility," Lance said during an appearance at CERAWeek by IHS Markit. "We can predict prices are going to go up and then they're going to go down, but not necessarily in that order."Price cycles are getting shorter as peaks and troughs move closer together, Lance said."It feels balanced today, but it feels tenuously balanced," Lance said.Lance said his company has reduced sustaining capital to $3.5 b

Global Market Opinion 2018-03-07

CERAWeek: Permian economics attracting Indian interest, says ONGC

India's ONGC Videsh is keeping options open to invest in US non-conventional oil plays, as operational efficiencies and lower breakevens are making it an attractive destination for global players, CEO Narendra K Verma said Monday.OVL, which is the upstream investment arm of ONGC, is the second Asian state-owned oil company that has officially said it is considering investments in the US oil sector, provided the right economics.Last week, senior officials from Sinopec and PetroChina said at an industry event in Houston that they too have similar plans, including opportunities to work together i

Global Market Opinion 2018-03-07

CERAWEEK-Energy execs says tariff gambit could hit shale, LNG project costs

HOUSTON- Energy executives say the Trump administration's proposed steel and aluminum tariffs could bump up the cost of big-ticket projects needed for rapidly rising U.S. shale oil and gas output by three to 10 percent.Higher construction costs could slow growth in production and exports of crude and natural gas from shale that has made the United States the world's largest gas producer and second largest oil producer.President Donald Trump's proposal is emerging as a potential spoiler for new U.S. pipelines, drilling rigs, offshore platforms and refineries to handle coming oil and gas product

Global Market Opinion 2018-03-07

Chinese oil executives stay upbeat

MORE than two thirds of Chinese oil and gas executives expect profit growth in the industry this year, bolstered by efficient cost management although crude prices remain low, according to DNV GL, a Norway-based maritime and energy consultancy.

G3 Exploration reports progress at GGZ Block in southwest China

G3 Exploration Ltd. is pleased to provide a progress update of the exploration and development activities for its Baotian-Qingshan (GGZ)2 Block, situated in the Guizhou Province, China.

Chasing Chinese gas dreams

Both the country's unconventional production and reserves are set to soar

China Shale Gas 2018-02-27

Fugro Awarded Contract in China for Gas Hydrate Research

Guangzhou Marine Geological Survey (GMGS) awarded Fugro a contract for gas hydrate investigation on the Northern Continental Slope of the South China Sea. The contract is valued at approximately $40 million and the project is expected to begin in 2Q 2018.

Gas Hydrates 2018-02-27

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