Among major liquefied natural gas (LNG) suppliers, Qatar, as well as Russia and African producers, look set to benefit from China’s rising demand for the fuel, according to FitchSolutions.
China’s crude oil imports rose to 11.69 million barrels per day (b/d) in March, up 21% year-on-year, with further growth expected, reported FitchSolutions.
Estimates from OilX show China’s crude oil imports fell 11% month-on-month to 10.41 million barrels per day (b/d) in April. This would imply a year-on-year increase of 5.37%, or 0.53 million b/d, the latest data from the analytics firm showed.
The offshore wind market in Asia is expected to experience massive expansion over the next five to 10 years, particularly in the more advanced economies of Taiwan, Japan and South Korea, as governments face increasing pressure to focus on climate change and hit their net-zero emissions targets.
Russia and China will lead global small-scale liquefaction natural gas (LNG) capacity additions by 2025, according to a report by GlobalData.
Malaysian national oil company Petronas has started exporting liquefied natural gas (LNG) to China in ISO tanks from its filling facility in Pengerang, Johor Bahru.
Philippine President Rodrigo Duterte said challenging China in the South China Sea will only lead to violence, and that he will only do so if Beijing drills for oil in the disputed waters.
The US and China are committed to cooperating to tackle climate change, they said in a joint statement after meetings between senior envoys last week that were held amid rising geopolitical tensions between the two countries.
Despite the political and social turmoil in Myanmar, South Korea’s Posco International is sending a second deep-water drilling rig to the troubled Southeast Asian state to continue development work at the Shwe gas field.
CNOOC, China’s third-largest oil company, confirmed it has extinguished a fire at a platform on its Penglai fields in northeast China. The fire is expected to cut crude output at the Penglai 19-3 field by around 600,000 barrels this year.
Three crew members are missing following a well blowout and fire at an oil production platform in the Bohai Sea in northeastern China earlier this week that stopped operations at one of the country’s largest oil fields.
The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region.
Analysts at Bernstein see tighter liquefied natural gas (LNG) markets ahead as limited supply growth meets strong demand, particularly from Asia, which could push prices higher.
China Petroleum & Chemical Corp, better known as Sinopec, plans a 24% rise in capital spending to 167.2 billion yuan ($25.5 billion) in 2021 as oil prices and energy demand strengthen.
PetroChina, China’s biggest oil company, plans a 239 billion yuan ($37 billion) capital spend this year, making it the world’s top spending oil firm in 2021, beating the likes of Saudi Aramco and ExxonMobil.
CNOOC, China’s third largest oil company, is expected to start production at Lingshui 17-2, a large deep-water natural gas field in the South China Sea, during the first half of 2021.
Total is set to supply of up to 1.4 million tonnes per year (mtpy) of liquefied natural gas (LNG) to China’s Shenergy Group for a 20-year term. The pair will also form a joint venture to expand LNG marketing in China.
Qatar Petroleum will supply China’s Sinopec with 2 million tonnes per year of LNG for a ten-year term.
Sinopec, China’s second-largest energy company has made a significant oil and gas find in the remote Tarim basin in the country’s north-west Xinjiang region.
China’s first seagoing liquefied natural gas (LNG) bunker vessel has been launched in Dalian to service ships passing through the waters of East China.
Malaysia’s Petronas and China National Offshore Oil Corporation (CNOOC) will expand their ties in the energy sector through closer collaboration beyond liquefied natural gas (LNG) and upstream projects.
Singapore’s Keppel Offshore & Marine (Keppel O&M) has delivered its second newbuild liquefied natural gas (LNG) carrier to small-scale integrated supplier Avenir LNG.
At COP21 in Paris in 2015, 11 countries made gas flaring a stated commitment to their Paris Nationally Determined Commitments (NDCs). Disappointingly, five years on, flaring has increased for these 11 countries, by 6% to 60 billion cubic metres per year.
Santos said today that its largest shareholder had sold about one third of its stake worth A$785 million ($603.7 million) in the Australian gas producer. This ends a strategic relationship with ENN Group, which is one of the largest gas distributors in China.
China’s crude oil imports surged 28% year-on-year to 12.35 million barrels per day (b/d) in February. This was 2.7 million b/d higher compared to the same period a year ago, the latest data from analytics firm OilX showed.