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 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 China Shale Gas Weekly Review - April 26, 2019

1. China's Jereh launches new shale gas development solutionJereh Group, a leading oilfield equipment manufacturer, unveiled a new electric solution for shale gas development at Yantai, Jereh Headquarter, witnessed by over 130 clients, including Representatives from CNPC, Sinopec, CNOOC as well as international clients from Russia, Kuwait, Saudi Arabia, U.A.E and Oman. Also, the equipment start-up ceremony was held onsite for demonstration.Jereh successfully developed a full series of electric fracturing fleet to help reduce cost and enhance the efficiency of shale gas development.Jereh's new

BP latest oil major to exit China's shale gas after poor drilling results

European oil major BP plans to exit from two production sharing contracts (PSC) for projects drilling for shale gas in the southwestern Chinese province of Sichuan, three sources with the knowledge of the matter said this week.BP is the last of the international oil majors, including Royal Dutch Shell, Exxon Mobil, ConocoPhillips and ENI, to quit exploring for shale gas in China because of poor drilling results. Its departure leaves the sector firmly in the hands of domestic companies.In March 2016, BP agreed with China National Petroleum Corp (CNPC) to explore and produce natural gas from sha

China Shale Gas 2019-04-12

Shell Ventures Into China’s Shale Oil

Oil supermajor Shell has signed an agreement with China’s Sinopec to jointly study the potential development of shale oil in eastern China—one of the few international majors venturing into the potentially vast but underexplored and underdeveloped Chinese shale oil resources.Shell and Sinopec will jointly study the potential of the Dongying trough in the eastern Chinese province of Shandong, Reuters reports, citing a brief statement from the Chinese company. Shell operates in shale oil and gas projects in North and South America, including in the Permian and in the Appalachia basin, in Albert

China Investment 2019-04-10

【News Release】Day 1 - ECF2018 8th Asia-Pacific Shale Gas Summit

Energy China Forum 2018 8th Asia-Pacific Shale Gas Summit was held during in Shanghai Oct 17-19, 2018. This summit was jointly hosted by Shanghai United Institute for Unconventional Resources (SUI) and Shanghai Energy Economy Committee of SEA.

【New Express--Speakers & VIP Guests List Including】About Energy China Forum 2018

【New Express--Speakers & VIP Guests List Including】Energy China Forum 2018 8th Asia-Pacific Shale Gas Summit (Shanghai, China) Oct 17-19, 2018

McKinley remains confident in China Energy deal

U.S. Rep. David McKinley, R-W.Va., said he remains confident in the promised multibillion dollar investment from China Energy into West Virginia's shale gas development and chemical manufacturing industries.

G3 Exploration advances assets ahead of spin-off of China CBM production arm

G3 Exploration Ltd (LON:G3E) said it will push ahead with plans to spin-off its Chinese coal bed methane (CBM) business as it reported strong progress at its exploration and production assets.

CBM 2018-04-17

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

2018-03-07

Q&A: What's Next for W.Va.'s China Energy Deal?

Brian Anderson, director of the Energy Institute at West Virginia UniversityNovember last year West Virginia's Commerce Department announced a deal with China Energy the biggest Chinese coal company, to invest billions in the state’s natural gas industry. A memorandum of understanding outlines a 20 year commitment to invest 83.7 billion dollars in the states shale gas industry. The deal didn’t happen overnight. Brian Anderson, founder and director of the Energy Institute at West Virginia University offers some insight into the deal and the company behind it.Q: When did this deal with China Ene

Contrasting China Petroleum & Chemical (SNP) & American Midstream Partners (AMID)

China Petroleum & Chemical (NYSE: SNP) and American Midstream Partners (NYSE:AMID) are both oils/energy companies, but which is the better investment? We will compare the two businesses based on the strength of their earnings, dividends, valuation, profitability, institutional ownership, risk and analyst recommendations.ProfitabilityThis table compares China Petroleum & Chemical and American Midstream Partners’ net margins, return on equity and return on assets.Net MarginsReturn on EquityReturn on AssetsChina Petroleum & ChemicalN/A4.48%2.54%American Midstream Partners0.12%-11.67%-2.29%Earning

CNOOC eyes more gas fields abroad

China is eyeing more overseas opportunities for its offshore drilling and completion technologies at high-temperature and high-pressure gas fields, according to the nation's largest producer of offshore oil and gas, China National Offshore Oil Corp.China's technological capacity to independently develop high-temperature and high-pressure gas fields is only second to that of the United States, said Li Zhong, chief engineer of CNOOC's Zhanjiang branch.The know-how and innovation being deployed in the South China Sea, which was granted first prize in this year's National Science and Technology Aw

Cnooc Aims for Highest Spending in Four Years as Oil Recovers

Cnooc Ltd. plans to raise capital spending to the highest since 2014 and revised upward its oil and gas output targets as China’s biggest offshore producer recovers from crude’s crash.The Beijing-based explorer sees capital expenditures at 70 billion to 80 billion yuan ($11.1 billion to $12.7 billion) for 2018, it said in a statement to the Hong Kong stock exchange Thursday. That’s an increase of as much as 60 percent from the previous year, which came in under target. It also raised its production estimate to between 470 million and 480 million barrels of oil equivalent, poised for the the fi

CNOOC 2018-02-03

Sinopec Oilfield Service Corporation’s US$572 million H-share placement

Herbert Smith Freehills has advised Sinopec Oilfield Service Corporation on its private placement of 3.3 billion H-shares on the Hong Kong Exchange.The H-share placement was made to Sinopec Century Bright Capital Investment Limited and China Structural Reform Fund Corporation Limited, and was completed on 24 January after regulatory approvals were received. It injects close to US$572 million into one of the world’ largest oilfield service companies.This is Sinopec Oilfield service’s largest H-share placement to date and the funds raised will be used to supplement the company’s working capital.

IPO Sinopec 2018-02-03

China's CNOOC plans to raise capex by at least 40 pct in 2018, lift output

BEIJING, Feb 1- Chinese offshore oil and gas company CNOOC Ltd said on Thursday it planned to ramp up spending by at least 40 percent in 2018, as well as raise production, thanks to a more “suitable” oil price.The company, the listed upstream arm of state-owned China National Offshore Oil Corp, said in a strategy presentation it had pegged this year’s capital expenditure at 70 billion to 80 billion yuan ($11.1 billion to $12.7 billion).It also forecast that net oil and gas output would rise to between 470 million and 480 million barrels of oil equivalent (boe) from an expected 469 million boe

CNOOC 2018-02-03

China’s CNOOC to invest up to $12.7bn in 2018

China National Offshore Oil Corporation (CNOOC) revealed its plans to invest RMB70-80bn ($11.1-12.7bn) this year to target a production of 470-480 million barrels of oil equivalent (BOE).The capital expenditure for 2018 is higher than the RMB60-70bn ($9.5-$11.1bn) announced by the Chinese national oil company for 2017.From China, CNOOC is looking to draw about 64% of the oil while the remaining 36% from its overseas accounts.The company said that it will allocate 65% of the announced investment on development while 18% and 16% on exploration and production activities, respectively.CNOOC CFO Xi

China Investment CNOOC 2018-02-03

New Edition of SZ China Natural Gas Monthly Report 2018 Released

According to SZ Energy's market data, gas consumption of China reached 235.2bcm in 2017, up by 17% YOY. China’s souring gas demand in the past year was driven by warm economy, supporting policy of environment protection......Free trial:http://en.energychinaforum.com/report/detail/16.html .

CNPC Looking For New Gas Sources In Myanmar

SHANGHAI—A subsidiary of China National Petroleum Corp. (CNPC), the country’s largest oil producer, is looking for new sources of natural gas in Myanmar to feed a pipeline between the two nations, the China Daily reported on Jan. 12.CNPC Southeast Asia Pipeline Co. Ltd. is seeking additional gas to supply the pipeline which runs from Daewoo International’s offshore blocks in Myanmar, said Chen Xiangqiu, vice president of the gas pipeline project, according to the paper.The company has been transporting gas from Daewoo International’s fields under a 30-year deal that started in mid-2013.Chen sa

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