Ethiopia tosses out Poly-GCL on lack of gas progress
Ethiopia has terminated the Poly-GCL licence given a lack of progress in developing the Calub and Hilala gas fields.
china
Typhoon tears BP FPSO from Chinese dock
A typhoon has ripped a BP FPSO away from its moorings at a Chinese yard, throwing up another challenge to plans for LNG production off Senegal and Mauritania.
IEA sees biggest China oil demand drop in over three decades
China faces its biggest annual drop in oil demand in more than three decades as Covid-19 lockdowns and a property crisis weigh on growth in the world’s No. 2 consumer, the International Energy Agency said.
Chinese activity drove global wind turbine orders to new record in Q2
Global wind turbine orders hit 43 gigawatts (GW) in the second quarter of the year, a new record.
China’s ENN pulls plug on Santos shareholding
Santos (ASX:STO) today confirmed that China’s ENN has ceased to be a substantial shareholder in the Australian-listed oil and gas producer.
China snaps up half-price Russian LNG as Europe shuns supplies
China is lapping up liquefied natural gas (LNG) shipments from Russia on the cheap. The Sakhalin-2 LNG export plant in Russia’s Far East sold several shipments to China for delivery through December at nearly half the current spot price in a tender that closed earlier this week, according to traders with knowledge of the matter.
Oil plunges to lowest since January as demand concerns escalate
Oil fell to the lowest since January on concern a global slowdown will cut demand in Europe and the US, just as China’s Covid Zero strategy hurts consumption in the world’s biggest crude importer.
Gazprom to shift gas sales to China to rubles, yuan from euro
Gazprom PJSC said it will shift its contract to supply gas to China to rubles and yuan from euros, as the Kremlin steps up efforts to move trade out of currencies it considers “unfriendly” amid US and European sanctions.
Philippines says open to resume oil exploration talks with China
The Philippines is open to new talks with China on oil and gas exploration, the Southeast Asian nation’s top diplomat said.
Iran may drain offshore crude oil cache if nuclear deal reached
Progress toward an Iranian nuclear deal has thrown the spotlight onto a sizeable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out.
Sinopec posts record first-half profits on rising oil prices
Sinopec posted record first-half profits as higher global oil and gas prices outweighed a mixed market for fuel in China.
PetroChina’s profits climb to record on global energy rally
PetroChina posted its best-ever first-half earnings as the nation’s top oil and gas driller benefited from soaring global energy prices, and said that government stimulus is starting to lift Chinese oil demand.
China’s Cnooc more than doubles profits on higher oil prices
Cnooc Ltd more than doubled its first half profits from a year ago as China’s biggest offshore driller benefited from sky-high oil and gas prices.
Equatorial Guinea signs up foreign support for refinery construction
Two Chinese companies have signed a framework agreement to build a modular refinery in Equatorial Guinea.
Unaffordable LNG prices undermine rapid demand growth forecasts in key Asia markets
Sustained high prices may accelerate downward pressures on Asian liquefied natural gas (LNG) demand, clouding long-term industry outlooks.
Offshore wind player Orsted eyes Taiwan Straits crisis after China fires missiles
Danish offshore wind developer Orsted (CPH:ORSTED) is at risk of getting caught up in a potential Taiwan Straits crisis as tensions in the region rose steeply following the visit of US House of Representatives Speaker, Nancy Pelosi, to Taipei, on 2-3 August.
CCS will be key as Asia faces steep rise in coal power
Ageing coal-fired power is increasingly replaced by renewable energy generation in the US and Europe. However, transitioning away from thermal coal will be complex and slow for Asian nations, particularly India and China, which make up 70% of global coal demand and face a steep rise in power demand.
INEOS and SINOPEC ink three deals worth $7bn
INEOS and SINOPEC have signed three back-to-back deals worth a combined $7 billion (£5.8bn) which are expected to generate a combined turnover of around $10bn from 7 million tonnes of capacity.
Angola boosts oil revenues, cuts debt
Angola exported $11.8 billion worth of oil in the second quarter of the year, from 103.6 million barrels of oil.
China to export $100bn in renewable energy technology in 2022, bright future ahead
China is continuing its rapid expansion into global new energy markets with exports of solar PV, wind turbines, and energy storage equipment, expected to be worth $100 billion this year, data from energy research firm Wood Mackenzie showed.
China going quiet on LNG hides risk that may upend global market
At a time when natural gas buyers are fighting over every last molecule, China -- the world’s top importer -- is noticeably quiet.
Coal plus renewables will shape energy transition in Asia as $2.9tn in power investment eyed
The coal plus renewables energy transition led by Asia Pacific’s largest growth markets – China and India – is gathering speed. Significantly, it is a lot cheaper than the natural gas plus renewables path followed by the EU and US to lower emissions.
Adnoc L&S snaps up Zakher Marine International
Adnoc Logistics & Services is buying Zakher Marine International (ZMI), an Abu Dhabi-based owner operator of offshore support vessels (OSVs).
Russian supply fears intensify Asian demand for winter gas, poses setback for Europe
Asia’s top liquefied natural gas (LNG) importers are accelerating efforts to secure fuel for winter on fears that Russia will curb supply and further tighten the global market. This could pose a further setback for Europe as it tries to manage its energy crisis.
Cheniere mulls bigger boost to Texas LNG exports with China deal
Cheniere Energy, the largest US exporter of liquefied natural gas (LNG), signed a deal with PetroChina that lays that the groundwork for another expansion of Cheniere’s Texas export terminal as global demand for the fuel surges.