China’s new green target still means pumping too much pollution
China’s first road map to achieving net zero emissions by 2060 may be too slow to stop the world’s biggest polluter from hastening global warming.
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Energy sector at risk from U.S.-China flashpoints
The increasing geopolitical rivalry between the U.S. and China has more than a 50% chance of spilling over into some form of military confrontation in the year ahead. This could involve threats, posturing, or the actual use of force, as well as have serious implications for energy companies and markets.
Chinese oil majors undervalued
Analysis from investment house Bernstein suggests that the Chinese oil majors - CNOOC, Sinopec and PetroChina - offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.
China’s Sinopec is rolling out world’s biggest hydrogen network
Sinopec aims to massively expand its hydrogen refuelling network as the state-owned oil giant, which has the potential to become one of the world’s largest hydrogen producers, attempts to carve out a role in China’s transition to cleaner energy.
Hydrogen is ‘jump ball’ in global clean-energy race, Kerry says
The U.S. oil and gas industry should embrace “huge opportunities” in producing and transporting hydrogen, with the potential for that cutting-edge energy source to fuel long-haul trucks and supply power globally, presidential climate envoy John Kerry said Tuesday.
Russia to export more LNG to China
Russian gas independent Novatek is set to export more than 3 million tonnes per year (t/y) of LNG to China from the Arctic LNG 2 project as part of its latest deal with Shenergy Group.
Philippines pushing for upstream renaissance
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.
BHP is bullish on oil and gas, eyes deals
BHP Group on Tuesday said it sees a clear opportunity in oil and gas to enjoy strong returns over the medium term and is ready to seek counter-cyclical deals in a world where many energy companies have cut back on exploration and new projects.
Australia, Japan and Vietnam lead renewable energy shift in Asia Pacific
Australia, Japan and Vietnam are leading the shift to renewable energy in Asia Pacific, according to the latest research from IHS Markit. Significantly, coal and gas power plants are also being built at a brisk pace as part of the energy mix across the region.
China to support Myanmar renewables growth after coup
Myanmar’s transition towards renewable energy sources will face near-term headwinds after the recent military coup. However, analysts are more optimistic over the medium to longer term given the dominance of Chinese companies in the sector.
Chinese energy firms set to benefit from Myanmar turmoil
There is a high risk that political turmoil in Myanmar will negatively affect the energy sector, however, Chinese companies look set to benefit from the tumultuous environment, according to Fitch Solutions Country Risk & Industry Research.
COSL benefits as China offshore capex surges
China Oilfield Services Limited (COSL) is expected to have another solid year in 2021 as offshore capital spending is set to surge to record levels in China.
CNOOC’s capital spend set at $15bn, highest since 2014
CNOOC, China’s third-biggest oil company, aims to raise its capital spending this year to between 90 billion and 100 billion yuan ($15 billion), the highest level since 2014, bucking the industry trend.
Myanmar faces energy crunch after military coup, needs more LNG
Myanmar faces a potential energy crunch following a bloodless military coup that is set to delay urgent upstream investment and derail vital liquefied natural gas (LNG) import projects.
Beijing will keep harassing oil and gas activities in South China Sea
Beijing is expected to keep harassing oil and gas operations in disputed areas of the South China Sea this year, particularly offshore Malaysia.
Wood secures major contract for ethylene expansion in China
Engineering and consulting giant Wood has clinched a deal worth more than $120 million for a refinery project in south China.
Tesla’s dominant position in China under threat next year
Tesla Inc. is coming to the end of its first year selling China-made cars with a commanding position in the world’s biggest electric-vehicle market, but Elon Musk shouldn’t rest on his laurels.
Latin America emerges as China’s main stomping ground for M&A
In a challenging year for Chinese companies pursuing acquisitions abroad, Latin America emerged as a region where they were able to make some corporate marriages work.
North Sea oil gets a jolt from Asian demand
North Sea oil prices are finally strengthening, catching up with other markets that already rallied on the back of rising buying interest from Asia, where demand in many places has already recovered from Covid-19.
US adds CNOOC to list of firms with Chinese military ties
The Pentagon added CNOOC among four more Chinese companies to a list of firms it says are owned or controlled by China’s military, exposing them to increased scrutiny and potential sanctions by the US.
Aramco’s Nasser talks up low-carbon oil
Saudi Aramco sees a recovery for oil demand in the second half of 2021 and, in the longer term, hydrocarbons will continue to compete with energy transition options.
Novatek talks up carbon-neutral LNG in Germany
Russia’s gas independent Novatek is extending its move into the downstream, launching an LNG fuelling station in Germany and delivering ISO tanks to China.
China harasses PTTEP’s exploration activity off Malaysia
The Chinese coast guard has been harassing a drilling rig contracted to Thailand’s PTTEP in Malaysian waters off Sarawak as the company attempts to appraise its biggest ever gas discovery.
Japan Inc readies for face off with Beijing offshore Vietnam
A pair of oil and gas fields controlled by Japanese companies offshore Vietnam could become a potential flash point in the disputed waters of the South China Sea as Beijing continually seeks to aggressively assert its claims.
ICBC drops Lamu coal plans
The Industrial and Commercial Bank of China (ICBC) has opted to halt its proposed financing of a 1,050 MW coal power plant in Kenya’s Lamu County.