INDUSTRY NEWS

【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.

Service Opinion China Policy CNPC Sinopec CNOOC ECFShale China Shale Gas 2019-07-18

ECF China Shale Weekly Review - July 14, 2019

Opinion CNPC Sinopec CNOOC ECFShale China Shale Gas 2019-07-15

【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

Opinion China Oil Exploration SOEs CNPC Sinopec CNOOC 2019-07-12

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

China Shale Oil China Oil Exploration ECFShale 2019-06-28

【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

CBM China Policy ECFShale China Shale Gas 2019-06-26

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

China Shale Oil China Policy CNPC Sinopec ECFShale 2019-06-21

【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

CBM China Policy ECFShale China Shale Gas 2019-06-21

Gas replacing coal in southern Xinjiang

The Tarim Oilfield in northwest China's Xinjiang Uygur Autonomous Region had sent 33.2 billion cubic meters of natural gas to the southern part of the region by May, benefiting 4 million local residents.This amount of natural gas can replace 43.16 million tonnes of standard coal, which is equivalent to a reduction of 29.88 million tonnes of harmful emissions, said PetroChina Tarim Oilfield Company Saturday.A natural gas network around the Tarim Basin has been built with four main pipelines and 19 branch lines with total length of more than 2,400 km in operation since 2013.As one of China's lar

China Coal China Natural Gas 2019-06-03

China's natural gas apparent consumption up 11.4 pct in the first 4 months

China's natural gas apparent consumption registered robust growth in the first four months of 2019 amid efforts to fight air pollution.Apparent consumption of natural gas rose 11.4 percent year-on-year to 100.9 billion cubic meters from January to April, according to the National Development and Reform Commission (NDRC).Meanwhile, a total of 103.93 million tonnes of refined oil was consumed during the same period, down 0.3 percent year on year, NDRC said.China has been promoting efficient, large-scale use of natural gas in sectors including industrial fuel, gas-fired power and transport.The co

China Natural Gas 2019-06-03

Russia’s Gazprom says supplies to China to reach 38 bcm in 2025

https://wenku.baidu.com/view/01e669a381eb6294dd88d0d233d4b14e84243e35.htmlRussian state gas producer Gazprom plans to supply 38 billion cubic metres (bcm) of natural gas to China in 2025, Elena Burmistrova, head of Gazprom Export, said on Tuesday.Burmistrova was speaking at a Gazprom news conference in Moscow. At the same event, she and other Gazprom officials also said the company had halted talks on supplying liquefied natural gas to Pakistan.

China Natural Gas 2019-05-29

Chinese demand for gas, LNG 'almost infinite'

China's impressive investments in renewable energy and electric vehicles have led some anti-fossil fuel activists, as well as some economists, to warn that new pipelines and LNG plants in Canada could become stranded assets.The fear is that China will decarbonize to such an extent that it won't need Canadian oil or natural gas.But Yao Li, CEO of Chinese energy consulting firm SIA Energy, said May 21 at the annual Canada Gas and LNG Conference that China's demand for LNG is “almost infinite.”China's shift from coal to natural gas to provide power will require a substantial increase in LNG impor

China LNG 2019-05-23

China not signing deals to buy U.S. crude oil: Enterprise CEO

Chinese companies looking to sign long-term agreements to buy crude oil from U.S. oil exporters have virtually disappeared, the chief executive of Enterprise Products Partners LP said on Tuesday.The United States and China have been embroiled in an increasingly bitter trade dispute for nearly a year, and it escalated recently with the U.S. imposition of 25% tariffs on $200 billion of Chinese goods.The trade war has all but shut down shipments of U.S. crude to China, and it is unlikely Chinese buyers will sign long-term offtake agreements with U.S. crude exporters right now, Enterprise CEO Jim

China Oil Import 2019-05-22

China posts rising crude oil output in first four months

China's crude oil output edged up 0.6 percent year on year to 63.06 million tonnes in the first four months, according to official data.In April alone, the crude oil output rose 0.6 percent year on year to 15.71 million tonnes, with the growth rate down 1.5 percentage points from March, data from the National Bureau of Statistics (NBS) showed.Meanwhile, China's crude oil imports expanded faster last month, surging 10.8 percent from the same period of previous year to 43.73 million tonnes.The amount of processed crude oil saw a 5.1-percent increase year on year in April, with a daily average pr

China Oil Output 2019-05-21

What China’s appetite for gas could mean for the world

China’s rapidly growing market is without doubt one of the most coveted destinations for exporters of liquefied natural gas. In pursuit of wealth and power, LNG producers from the four corners of the globe – the rolling farmlands of Pennsylvania, the deserts of Qatar, the rainforests of Papua New Guinea and the frigid waters of Russia – are all keen to compete for a slice of the pie. However, contrary to popular belief, China might not end up becoming the LNG-guzzling giant many have prophesied. This could have a major impact on the global market as a supply glut might lead to a collapse of LN

China Natural Gas 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

China's Ramping Up Of Tariffs On US LNG Means Nothing, Everything

China's decision to hike import duties on U.S. LNG is a move that means very little for the market in the short term, but it has the potential to deliver outsized consequences the longer the levies remain in place.As part of its latest round of retaliatory tariffs on U.S. imports, Beijing increased the duty on LNG shipments from 10% to 25%.This will make it even more uneconomic for Chinese buyers to purchase LNG cargoes from the United States. The 10% tariff put in place last year has already devastated the trade, with China's imports of the fuel dropping sharply.China imported 25 U.S. LNG car

Opinion China LNG 2019-05-15

Chinese Oil Majors Backtrack On Pledge To Buy Iranian Oil

It was a question that just as recently as last week was still undecided. Would Beijing kowtow to Washington’s demand that it stop importing Iranian oil at the start of May after the 180-day import waiver period ended? The answer, at least for now, is that Beijing will comply.Oil majors Sinopec Group and CNPC, China’s two top oil refiners, are reportedly skipping purchases of Iranian oil for loading in May, Reuters reported on Friday, citing people familiar with the deal. On April 22, President Trump surprised oil markets when said he would end 180-day Iranian oil import waivers put in place i

China Oil Import 2019-05-13

Natural Gas Consumption Up 10% in China

ccording to the preliminary estimate, the consumption of natural gas in China exceeded 27 million cubic meters in 2018, registering a YOY increase of more than 10%, said a report.The growing Chinese economy and stricter environmental protection policies drive the growth of natural gas consumption in China. In 2018, the Chinese government introduced several environmental protection policies to further prevent and control atmospheric pollution and replace coal with natural gas in key areas, which pushed up natural gas consumption in China.The market survey by ResearchAndMarkets shows that in 201

China Natural Gas 2019-05-10

China’s Apr natural gas imports rise 13% on year to 7.65 mil mt

China’s natural gas imports, comprising LNG and pipeline gas, totaled 7.65 million mt, or 10.55 Bcm, in April, preliminary data released Wednesday by the General Administration of Customs showed.The total was up 12.7% year on year from 6.79 million mt, or 9.37 Bcm, S&P Global Platts calculations based on historical data from the customs showed.Over January-April, China imported a total 31.89 million mt, or 43.97 Bcm, of natural gas, up 16.4% from 27.39 million mt, or 37.77 Bcm, from the same period last year, according to customs data.The April imports were also up 10.3% from 6.94 million mt,