China removes import quotas on some tax-free oil and gas drilling equipment

China introduced an application-based import quota regime in 2016 to offer import tax waivers for nearly 400 pieces of equipment used in oil and gas exploration, in order to boost domestic energy outputBEIJING: China said it is to remove import quotas on some tax-free onshore and offshore oil and gas drilling equipments used in some specified regions, the finance ministry said in a statement on Monday.China introduced an application-based import quota regime in 2016 to offer import tax waivers for nearly 400 pieces of equipment used in oil and gas exploration, in order to boost domestic energy

China Policy 2020-03-31

Li Fanrong confirmed CNPC general manager

The Chinese government has appointed Li Fanrong as the general manager of state giant China National Petroleum Corporation (CNPC).

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'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】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】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 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

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

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
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