ECF China Shale Weekly Review - September 9, 2019

ECF China Shale Weekly Review - September 9, 2019

【ECF News】Observation: China unconventional gas - this new subsidy is not enough

On June 20, the Ministry of Finance announced the Supplementary Notice on the Interim Measures for the Administration of Special Funds for Renewable Energy Development (hereinafter referred to as the “Notice”), and many new regulations on unconventional natural gas subsidies have been released . For example, the subsidy time limit will be extended to 2023, and the subsidies will be extended from shale gas, coalbed methane to tight gas.Hereafter, several key issues has led to extensive discussions among the industry, such as how to calculate the unconventional natural gas utilization amount, ho

ECF China Shale Weekly Review - September 1, 2019

ECF China Shale Weekly Review - September 1, 2019

【ECF News】Sinopec won bidding for China National Energy Administration's study project of shale oil development analysis

According to the announcement released by the National Energy Administration on Thursday, the winning bidder for the second batch of research projects in the 2019 energy strategic planning work was identified.One of the 12 research projects involved the topic of shale oil. Sinopec Petroleum Exploration and Production Research Institute won the bid for the project“China Shale Oil Development Potential Analysis and Work Suggestions”.

2019-08-30

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

Huadian’s exit puts NOCs in shale gas driving seat

State-owned power utility China Huadian’s exit from shale gas licences it won in late 2012 could prompt other companies to reconsider entering China’s shale gas sector and the wider upstream segment.China Huadian has reportedly handed back acreage that it won in China’s second shale gas exploration licensing round held in late 2012.

China Shale Gas 2019-08-23

ECF China Shale Weekly Review - August 18, 2019

ECF China Shale Weekly Review - August 18, 2019

【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 China Shale Weekly Review - August 4, 2019

ECF China Shale Weekly Review - August 4, 2019

【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

ECF China Shale Weekly Review - July 28, 2019

ECF China Shale Weekly Review - July 28, 2019

【ECF News】China NEA: further enhance oil and gas exploration and development

On July 21, National Energy Administration organized a symposium in Beijing about strengthening the exploration and development of oil and gas. This is a first-time offline meeting and a second symposium since the NEA organized a large-scale video/telephone conference for the promotion work of oil and gas exploration and development in Beijing on May 24. The National Energy Administration promoted oil and gas exploration and development. The symposium was also highly valued by the oil majors, attendees included CNPC chairman Wang Yilin, CNPC general manager Zhang Wei, Sinopec chairman Zhangwei

ECF China Shale Weekly Review - July 21, 2019

China Oil Drilling Market Analysis

【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】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 China Shale Weekly Review - July 7, 2019

Policy & Regulation1. China to Ease Ownership Rules on Oil Exploration, City GasChina 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 investo

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
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