【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

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

ECF China Shale Weekly Review - June 30, 2019

Energy China Forum 2019 the 9th Asia-Pacific Shale Gas & Oil Summit (Shanghai, China) Sept 25-27, 2019http://2019.energychinaforum.comEnergy China Forum releases weekly review of China shale gas and oil updates every Sunday. For more China shale gas and oil information, please contact ECF editor. Energy China Forum WeChat: chinashalegasEditor WeChat: ecfenergyPolicy & Regulation1. Experts: What does the new China unconventional subsidies policy indicate?According to ECF reports last Friday, China's MOF released several new supplement rules of the Renewable Energy Development Special Fund, inc

【ECF News】Experts: What does the new China unconventional subsidies policy indicate?

According to ECF reports last Friday, China's MOF released several new supplement rules of the Renewable Energy Development Special Fund, including the subsidies for unconventional gas development.【ECF News】MOF: Unconventional Gas Development will gain subsidies from new special fundSO, what does the new subsidies policy mean and what influences it will take on China's unconventional oil & gas? According to Wang Hongyan, Director of CNPC RIPED Unconventional Institute and Deputy Director of National Energy Shale Gas R&D Center, this new policy reflects changes in five aspects:First, it is very

ECF China Shale Weekly Review - June 23, 2019

Energy China Forum releases weekly review of China shale gas and oil updates every Sunday. For more China shale gas and oil information, please contact ECF editor. Energy China Forum WeChat: chinashalegasEditor WeChat: ecfenergyPolicy & Regulation1. MOF: Unconventional Gas Development will gain subsidies from new special fundAccording to a notice released by China's Ministry of Finance on June 11, several new supplement rules of the Renewable Energy Development Special Fund were cofirmed, including the subsidies for unconventional gas development.The Special Fund includes supportive reward fo

【ECF News】MOF: Unconventional Gas Development will gain subsidies from new special fund

According to a notice released by China's Ministry of Finance on June 11, several new supplement rules of the Renewable Energy Development Special Fund were cofirmed, including the subsidiary for unconventional gas development.The Special Fund includes supportive reward for hydropower efficiency expansion and transformation in rural area, subsidiary for unconventional natural gas development and will be effective during 2019-2023.According to MOF, the Special Fund will support unconventional gas exploitation and utilization including coalbed methan, shale gas and tight gas. The production amou

ECF China Shale Weekly Review - June 16, 2019

Energy China Forum releases weekly review of China shale gas and oil updates every Sunday. For more China shale gas and oil information, please contact ECF editor. Energy China Forum WeChat: chinashalegasEditor WeChat: ecfenergyExploration & Production1. Sinopec drilled a continental shale gas horizontal well in Songliao BasinRecently, Sinopec Northeast Oil & Gas Company completed drilling Liye 1 HF well, an pre-exploration well deployed in the Sujiatun sub-sag of the Lishu fault depression in Songliao Basin. The drilling depth was 4,630 meters.This is the first continental shale gas horizont

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

China's ‘Game Changer’ Pipeline Reform to Supercharge Gas Demand

China’s looming pipeline reform is poised to spur competition in its natural gas industry, lowering prices and supercharging demand from the world’s top importer in years to come, according to Credit Suisse Group AG.The government is creating a national pipeline operator from the assets of its three biggest oil and gas companies. The move will break a monopoly that China’s state-owned giants have over downstream users and result in gas prices falling 10% over 2020 and 2021, the bank’s analysts including Horace Tse said in a report. The national operator is likely to be formed by August, Citigr

China Gas Pipeline 2019-06-05

【ECF News】ECF China Shale Weekly Review - June 2, 2019

Energy China Forum releases weekly review of China shale gas updates every Sunday. For more China shale gas information, please contact ECF editor. Energy China Forum WeChat: chinashalegasEditor WeChat: ecfenergyEXPLORATION & PRODUCTION1. PetroChina accelerates shale oil exploitation in XinjiangThe Xinjiang branch of PetroChina, China's largest oil and gas producer, said Thursday that they had sped up the exploitation of shale oil in a large deposit this year.The Xinjiang Oilfield Company said they had drilled 47 wells in the Jimsar shale oil reservoir, containing about 1 billion tonnes of oi

【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

Why China Hasn’t Slapped Tariffs On U.S. Oil Imports

The United States has quickly become one of the top crude producers in the world thanks to the shale boom fueled by the shale oil and gas powerhouse that is West Texas’ Permian Basin. In fact, the U.S. is on track to overtake Saudi Arabia as the world’s leading exporter of oil, natural gas liquids and petroleum products by the end of the year in a development very, very few could have predicted. At the same time that the U.S. has risen to the top of the global oil production game to become the fastest-growing oil producer in the world, China has also broken its own records to become the fastes

China Oil Import 2019-05-21

Shanghai crude oil futures open lower

Crude oil futures opened lower Wednesday on the Shanghai International Energy Exchange.The most active crude oil contract for June delivery was down 1.3 yuan (about 19 U.S. cents) to open at 498.5 yuan a barrel.China launched the crude oil futures trading, which is open to overseas investors, in March 2018.

China Crude Futures 2019-05-16

Increased Chinese Tariffs on American LNG Could Dampen Investment, Report Says

China will more than double its punitive tariffs on liquefied natural gas (LNG) imports from the U.S. starting June 1, as Beijing hits back at Washington’s escalation of the bilateral trade dispute.The additional levies on U.S. LNG will be raised to 25% from the current 10%, as one of over 4,500 product lines that will be subject to tax increases at three different margins, according to a Monday statement by the Tariff Policy Committee of the State Council, China’s cabinet.The tariff hike comes in response to Washington on Friday further raising its additional tariffs on $200 billion worth of

China LNG 2019-05-15
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