Russian exports of discounted crude and fuel oil to China have jumped to record levels as the re-opening of the world’s biggest energy importer gathers pace after the dismantling of Covid Zero.
A rush by China to sign new long-term liquefied natural gas (LNG) deals promises to give the nation even more control over the global market at a time when competition for cargoes is booming.
More investments in liquefaction is needed to head off a supply-demand gap that the company sees emerging in the late 2020s. Last year, the company put this supply-demand gap opening up by mid-decade.
Chinese leader Xi Jinping pledged to deepen ties with Tehran after meeting Iran’s President Ebrahim Raisi in Beijing, weeks after the US said it would increase pressure on China to stop buying Iranian oil.
The levelised costs of electricity (LCOE) for utility solar and onshore wind in Asia Pacific were up 16% and 12% respectively since 2020, as equipment, construction costs and interest rates rose in the region. However, China was insulated from the trend.
China is looking for shipments of liquefied natural gas (LNG) into next summer, a move which could tighten global supply and steal shipments away from Europe.
Two months after Chinese President Xi Jinping visited Saudi Arabia, Hong Kong’s leader John Lee has followed in his footsteps by taking a sizeable entourage to the kingdom.
China’s economy could be poised for a stronger-than-anticipated rebound that’ll deliver a demand boost for oil and natural gas, according to the head of the International Energy Agency.
Oil headed for a second weekly drop as optimism over a recovery in Chinese demand dimmed and US stockpiles kept rising.
An OPEC+ committee recommended keeping crude production steady, delegates said, as the oil market awaits clarity on demand in China and supplies from Russia.
China’s Coast Guard maintained near-daily patrols at key features across the disputed South China Sea last year, ramping up its presence as tensions over the waterway with Southeast Asian neighbours remain high, new tracking data shows.
The US said it will increase pressure on China to stop buying Iranian oil, as the White House seeks to enforce sanctions aimed at curbing the Islamic Republic’s nuclear activities.
Shell (LON:SHEL) has signed a Joint Study Agreement with CNOOC, Guangdong Provincial Development and Reform Commission, and ExxonMobil (NYSE:XOM) for the Daya Bay carbon capture and storage (CCS) hub project in China.
Research firm Westwood Global Energy Group has delivered its forecasts for the offshore wind market in the coming year.
Indonesia has deployed a warship to its North Natuna Sea to monitor a Chinese coast guard vessel that has been active in the gas-rich maritime area, the country’s naval chief said on Saturday of an area that both countries claim as their own.
Philippine oil and gas drillers tumbled Wednesday after the top court voided the nation’s 2005 deal with China and Vietnam to jointly explore for oil and gas in the South China Sea, less than a week after President Ferdinand Marcos Jr. agreed to revive similar talks with Beijing.
China National Offshore Oil Corp. pledged higher spending this year as Beijing looks to raise production to safeguard energy security and fuel a rebound in economic growth.
China is importing a wider variety of Russian crudes, including the lesser-known Arco grade, just as the nation doubles down on purchases.
The Indonesian government has approved a plan of development for Harbour Energy’s (LON:HBR) Tuna oil and gas project that includes $3.315 billion worth of cost recovery. Significantly, Indonesia sees the development as a way to assert its sovereign rights in a maritime area also claimed by China.
The Taliban-led administration in Afghanistan signed its first international contract last Thursday to extract oil from the northern Amu Darya basin as the beleaguered group seeks to increase revenue.
International oil price benchmark Brent Crude climbed in the year’s first session as traders digested mixed signals on demand from China, the world’s largest crude importer.
Oil rose as China took more steps to unwind its Covid Zero policy and freezing weather across the US prompted refinery closures in the vital Texas Gulf Coast area.
Oil steadied after a three-day gain as concerns that near-term Chinese demand may decline amid a surge in Covid cases offset support from lower US inventories and a weaker dollar.
President Putin said Kovykta and Chayandinskoye could produce 50 bcm per year.
China and Saudi Arabia signed a number of agreements, including on energy and investments, after their leaders met in Riyadh on Thursday at a summit that showcased deep and growing ties beyond oil.