China Is Fueling South America’s Oil Boom

Oil demand from China has been one of the few bright spots for a global petroleum industry severely impacted by a long-term global supply glut and the economic fallout from the COVID-19 pandemic.

Colombia’s Oil Industry Could Stage A Comeback In 2021

The last year has been rough for Colombia’s economically vital petroleum industry. Toward the end of 2019 and at the start of 2020 government and industry bodies were expecting a strong 2020 for the country’s hydrocarbon sector.

Global Market Oil 2020-12-21

Sudan Owes $3 Bln to Chinese Oil Firm and Partners

November 28, 2020 (KHARTOUM) - Sudan’s total debt to the China Petroleum Corporation and foreign partners amounts to $ 3 billion, a Sudanese official said on Saturday.

CNPC, CNOOC Weigh Deal for Exxon’s Iraq Oil Field Stake

China’s oil giants China National Petroleum Corp. and CNOOC Ltd. are considering acquiring Exxon Mobil Corp.’s remaining stake in an oil field in Iraq

Repsol Sinopec Preparing for Decommissioning of UK North Sea field

Oil and gas company Repsol Sinopec has received approval from the UK authorities for preparation work scopes plan relating to the decommissioning of the Fulmar and Auk North installations located in the UK sector of the North Sea.

China's Oil Buying Binge to Run on In 2021 as Tank Operators, Refiners Stock Up

China’s commercial oil stockpiling sector, which emerged as a key swing buyer of crude as prices plunged earlier this year, is setting plans to grow again in 2021, supporting a further boost in imports.

China's Oil Thirst Outweighs Its Recent Hydrocarbon Discoveries

(ATF) Hydrocarbon thirsty China, the world's largest oil importer and its largest greenhouse gas emitter by long way, is still going long on oil and gas exploration.

China Is Rapidly Expanding Its Oil Resources In Africa

China is making a major power play to expand its global energy influence. The United States has long played an outsized role in global geopolitics and energy markets thanks to the shale revolution which jettisoned the country to the top of the fossil fuel food chain.

CNPC adjusts its business scope!

Recently, CNPC announced that according to the actual situation of the company's business development, in order to meet the needs of oil and gas resources, geothermal resources exploration and exploitation, production and operation of some refining and chemical products, and meet the operation requirements of PetroChina's electronic sales platform, the following adjustments are proposed to the company's business scope.First, adjust "oil and natural gas exploration and production" to "exploration, exploitation and sales of oil, natural gas, coalbed methane, shale gas, shale oil, natural gas hyd

CNPC 2020-05-20

China's crude inventory decline may augur a rebalancing oil market

The great oil glut of 2020 may have already peaked in the world’s biggest crude importer.Crude inventories in China have shrunk in recent weeks after rising to record levels, according to analysts and satellite observations. Supplies have been drawn out of storage as refineries ramp up operations to meet rising demand from an economy emerging from lockdown.Inventories drawing in the world’s biggest importer is an early sign that rebalancing may have begun in the global oil market after an epic collapse in demand, according to Morgan Stanley. Stockpiles dwindled even as oil imports in April inc

China Oil 2020-05-12

Personality and Regional Politics Drive Digital Decision-Making in the Oil Sector

More than many other industries, the characteristics of regional oil markets depend substantially on the personalities of the oil majors present in them. Because of decades of government financial support, and often government ownership, regional oil markets behave very differently. These different identities shape how they react to change.The Covid-19 pandemic is one example of the differing strategies of regional oil players when under pressure. Another example has been the emergence of cheap U.S. shale oil and gas. Whenever price shocks occur due to demand changes or large new suppliers ent

Global Market 2020-04-23

CNPC: Accelerating digital transformation

On April 15, Dai Houliang, chairman of CNPC, presided over a meeting, listened to the report of CNPC's digital transformation and development framework, and arranged and deployed the key work of digital transformation. He stressed that we should thoroughly study and implement the spirit of speech by general secretary Xi Jinping on the Internet power, digital China and new infrastructure construction, deepen our understanding of the situation, enhance our sense of urgency, actively adapt to the trend of digital development, do overall design and implement step by step, accelerate the transforma

CNPC 2020-04-17

Shale Drillers Are Staring Down Barrel at Worst Oil Bust Yet

(Bloomberg) -- America’s shale drillers have never faced an oil bust quite like this.The split between Russia and its one-time OPEC allies last week has ignited an all-out price war. U.S. crude prices plunged the most since the 1990s, falling to less than $28 a barrel and rendering vast swathes of the U.S. oil industry unprofitable. Shares and bonds of shale producers plunged Monday, with the S&P 500 Energy Index posting its worst intraday decline on record.It’s a disaster for U.S. frackers including Chesapeake Energy Corp. and Whiting Petroleum Corp., who were already trading at distressed le

OPEC 2020-03-12

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).

The Coronavirus May Mark The End Of Russia-OPEC Cooperation

A week ago, at an emergency meeting of the OPEC’s Joint Technical Committee, Russia refused to agree to the cartel’s proposal to reduce production by an additional 600 000 barrels per day (bpd). Explaining Russia’s position, Energy Minister Alexander Novak said that in order to make such a decision

OPEC China Oil Import 2020-02-18

Shell, Total reject China’s force majeure on LNG shipments

SINGAPORE (Bloomberg) - Two of Europe’s biggest energy companies rejected a Chinese force majeure on liquefied natural gas contracts in the latest twist to a drama that’s gripping global commodities markets.Shell and Total didn’t accept the legal grounds for the move by CNOOC that would have freed it from its contractual obligations to take delivery of the shipments, according to people with knowledge of the matter.While CNOOC is still likely to cancel delivery of the prompt cargoes, suppliers will probably seek compensation from the Chinese firm, said the people, who asked not to be identifie

Factbox: Coronavirus hits demand for oil, energy

A fast-spreading coronavirus in China has sent shockwaves through global commodity markets, prompting OPEC and its allies to consider deepening crude supply curbs and Asia’s largest oil refiner to slash over a tenth of its output.FILE PHOTO - An oil tanker unloads crude oil at a crude oil terminal in Zhoushan, Zhejiang province, China July 4, 2018. Picture taken July 4, 2018. REUTERS/StringerMARKETS EXPECT REDUCED OIL DEMANDThe oil market looks set for at least four months of depressed demand because of the coronavirus outbreak, with a large crude surplus not expected to clear at least until A

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

【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

Top
Message

Please leave your comment

Name*
Tel*
Email*
Company*
Message*
提交