China to Offer Tariff Exemptions; Global Gas Outlook Dims Further

China said Tuesday it would offer tariff exemptions for hundreds of U.S. goods, including crude oil and liquefied natural gas (LNG), as part of efforts to ease trade tensions.The country plans to accept applications from Chinese buyers starting early next month.

China’s gas demand to fall by 6-14 Bcm in 2020

China’s natural gas demand could drop between 6 billion cubic meters (Bcm) and 14 Bcm this year, depending on how long it takes the government to contain the coronavirus outbreak, Wood Mackenzie said Tuesday.

Gazprom hopes bulk of US LNG flows to be diverted to China, not Europe

Russian gas giant Gazprom hopes China rather than Europe will take the bulk of US LNG volumes after a trade deal between Washington and Beijing,

Global Market 2020-02-13

Analysts cut China's gas demand estimates as virus outbreak weighs

Several analysts cut their gas demand forecasts for China, the world’s top gas importer, as the fast-spreading coronavirus outbreak is expected to depress industrial, commercial and transportation appetite over the next few months.Estimates for the impact varied among five analysts who provided views for China’s gas demand to Reuters. Two of them expected demand to expand by just 6% thi

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 Gas reports 16% rise in half-year profit

China Gas Holdings Ltd reported a 16.2% rise in mid-year profit to 4.91 billion Hong Kong dollars ($627 million) as Beijing’s anti-pollution campaign helped boost gas demand.Analysts expected a profit of 4.84 billion dollars, Refinitiv data showed.China’s largest independent city-gas distributor by market capitalisation saw a 3.3% fall in revenue to 27.93 billion dollars for the six months to September 30, it said in a statement filed to Hong Kong Stock Exchange.Results were hurt by trading in liquefied natural gas (LNG) and liquefied petroleum gas (LPG), China Gas said.Still, natural gas sale

China Gas 2019-11-26

【ECF News】China oil giants signed over 80 billion USD during import EXPO

The 2nd China International Import Expo was held in Shanghai during Nov 5-10.More than 3,000 companies from more than 150 countries and regions participated in the exhibition.On November 6, the China Petroleum International Cooperation Forum and signing ceremony on the theme of “cooperative innovation and value creation” was held by CNPC in Shanghai. CNPC signed strategic cooperation agreements with SNAM and Schlumberger, and signed 21 procurement contracts with over 20 overseas suppliers including Kazakhstan Gas Transport, Saudi Aramco, Kuwait Petroleum, ABB, Schlumberger, Caterpillar, Honeyw

China Sets Own LNG Benchmark Price for First Time, Offering APAC a Guide

China, the world's second-largest importer of liquefied natural gas, has inaugurated its first price index for imported LNG that can serve as a reference point across the Asia-Pacific region.The Shanghai Petroleum and Natural Gas Exchange and the General Administration of Customs yesterday pegged their first LNG import price, including cost, insurance and shipping, at CNY3,497 (USD493) a ton for the week ended Oct. 13, Shanghai Securities News reported today. That was 3.2 percent higher than the previous week.Inbound shipments account for more than 40 percent of the natural gas that China uses

China LNG 2019-10-30

China’s Bid for Commodity Price Clout Extends to Natural Gas

China became the world’s biggest natural gas buyer last year. Now it wants to start setting its own price.That’s because importers have been paying rates influenced by events unrelated to China’s supply and demand balance -- from European weather to Middle East conflicts. So like it has for oil, gold and iron ore before, producers, distributors and financial exchanges in the top commodities market are seeking prices that they say better reflect Chinese fundamentals, and in their own currency.The search for an internationally recognized Chinese natural gas price, including a proposed futures co

China LNG 2019-10-29

【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 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

【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 raising gas prices ahead of pipeline reshuffle

PetroChina is bucking normal practice and raising its wholesale natural gas prices during the weak-demand spring season, several sources said, preparing for the coming consolidation of China’s pipeline assets and trying to recoup huge fuel import losses.The increases from PetroChina - which supplies more than 70 percent of China’s gas - come as spring brings warmer temperatures, when demand and prices typically fall.PetroChina is also under pressure to recoup continuing losses from its gas import business due to high input costs versus government-capped domestic prices, sources with knowledge

Chinese energy giant Sinopec defends 41 per cent increase in oil and gas exploration budget, says guided by market forces

China Petroleum & Chemical, or Sinopec, one of the country’s Big Three state-backed oil and gas producers and the world’s largest oil refiner, sought to allay concerns it was putting an order by Beijing to raise domestic output ahead of profitability.“One of the central government’s requirements for economic reforms is that market forces must play a decisive role when deciding resources allocation,” Dai Houliang, its chairman, said on Monday. “Corporate investment must be based on this principle, and be economically efficient.”His comments came after the company on Friday unveiled an oil and g

Sinopec 2019-05-17

China Invests In Game-Changing Arctic LNG Project

Russia’s second largest natural gas producer, independent player Novatek, has signed up key participation from two state-owned Chinese oil majors in its massive Arctic LNG 2 project. The deals were inked last week at the Second Belt and Road Forum for International Co-operation held in China. This cements Novatek’s position as Russia’s leading liquefied natural gas (LNG) developer, moving it a step ahead of the country’s two state-backed companies, Rosneft and Gazprom. China National Offshore Oil Corp. (CNOOC) and China National Oil and Gas Development Co. (CNODC), a unit of China National Pet

China Acquires 20 Percent Stake in Novatek’s Latest Arctic LNG Project

Russia’s largest private natural gas company, Novatek, secured vital funding for its Arctic LNG 2 plant. The project will be the company’s second liquified natural gas (LNG) production facility in the Arctic following on the heels of the Yamal LNG plant. Construction began earlier this spring on the Gydan Peninsula, just across the Ob delta from the Yamal LNG project on the Yamal peninsula.Building on the success of that first project, Novatek is thus far sticking with the same project partners. As the company announced, the China National Petroleum Corporation (CNPC) and the China National Of

China Investment 2019-04-30

CNPC overseas equity oil, gas output up 10 pct in Q1

Overseas equity of oil and gas production of China National Petroleum Corporation (CNPC) rose 10 percent year on year in the first quarter of 2019.Production came in at 26.09 million metric tonnes of oil equivalent in Q1, according to the international branch of CNPC, the country's largest oil and gas producer and supplier.The stable growth of oil and gas output is due to efforts made in enhancing quality, lowering cost and increasing efficiency, CNPC said.The listed firm has announced to focus on high-quality development of its overseas oil and gas operations, and reach its annual targets.The

CNPC 2019-04-22

Kunlun Energy aiming to complete oil and gas assets disposal by year end to focus on distribution

Kunlun Energy is aiming to complete the disposal of its oil and gas production assets by the end of this year to sharpen its focus as the listed natural gas distribution unit of oil and gas giant PetroChina, its chairman said on Friday.Huang Weihe said it will take time to execute the planned assets sale since it involves various jurisdictions, including in China, Thailand, Peru, Oman, Kazakhstan and Azerbaijan.“We are striving to complete the sale of some, if not all, of our upstream production assets before the end of this year,” he told reporters after the company’s annual shareholder meeti

China Investment 2019-04-18

Ukraine's Naftogaz, China's CNPC discuss prospects for cooperation

Ukraine's state-run energy company Naftogaz and China National Petroleum Corporation (CNPC) have discussed prospects for their cooperation in energy sector, the press service of the Ukrainian company said on Friday.A meeting between the senior executives of the two companies took place during the recent visit of Naftogaz chairman Andriy Kobolev to Beijing, Naftogaz said in a statement.During the talks, the two sides discussed practical steps for the start of cooperation between Naftogaz and CNPC -- increasing hydrocarbon production in Ukraine and supplying the latest equipment and technologies

CNPC 2019-04-15

China's ENN to scrap deal for Toshiba's U.S. LNG business

China’s ENN Ecological Holdings Co said on Thursday it would scrap a deal to buy Toshiba’s U.S. liquefied natural gas business due to a failure to obtain approvals from shareholders and a U.S. panel that monitors foreign investments.The cancellation is a new blow to Toshiba, the once-mighty Japanese conglomerate, as it must look for a new buyer for the business that it previously said could potentially cause losses as much as 1 trillion yen ($9 billion).A failure to find a buyer could derail Toshiba’s recovery from the fallout of the bankruptcy of its U.S. nuclear power unit Westinghouse.In a

ENN 2019-04-12

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