CNOOC launches offshore China acreage for bidding
Chain National Offshore Oil Corporation (CNOOC) is offering 13 offshore exploration oil and gas blocks to foreign companies as part of its 2022 bidding round.
china
China’s LNG imports to see unprecedented decline in 2022
China’s LNG imports are set to fall over 14% year-on-year to 69 million tonnes (Mt) in 2022, the largest decline since it started importing LNG, reported Wood Mackenzie.
China’s Cnooc doubles first half profit to $10bn on surge in oil prices
China’s biggest offshore oil driller said it more than doubled first half profits from a year ago amid a surge in oil and gas prices.
Shell signs up to 20 year deal with Mexican LNG project
Shell has signed a deal with Mexico Pacific to take 2.6 million tonnes per year of LNG from the first two trains of the project, which will be in Mexico’s state of Sonora.
Oil sinks as China’s covid resurgence overshadows tight market
Oil declined as the prospect of more demand-sapping virus restrictions in China overshadowed signs of a tightening market.
Russia muscles in on Indian oil market at expense of OPEC titans
Watch out Iraq and Saudi Arabia, Russia is making huge inroads into the Indian oil market and has quite possibly become the largest supplier to the giant Asian buyer.
ExxonMobil, CNOOC and Shell team up for carbon capture and storage hub in China
ExxonMobil, Shell, CNOOC, and Guangdong Provincial Development & Reform Commission have signed a memorandum of understanding to evaluate the potential for a world-scale carbon capture and storage (CCS) project to reduce greenhouse gas emissions at the Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province, China.
CNOOC finishes China’s first offshore CCS project
CNOOC has finished China's first offshore carbon capture and storage (CCS) project designed to permanently store carbon dioxide (CO2) in the seabed, state media reported recently.
Asia imports more seaborne Russian oil than Europe, India takes lion’s share
Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels, while for China the increase is 205% and for Asia as a whole 347%, Rystad Energy research shows.
Russia overtakes Saudi Arabia as China’s top oil Supplier
China continued to snap up Russian energy products last month, including a record quantity of crude oil, lifting purchases to $7.47 billion -- about $1 billion more than April and double the amount of a year ago.
China in advanced talks with Qatar for gas stakes worth billions
China’s energy majors are in advanced discussions to invest billions of dollars in Qatar’s massive liquefied natural gas (LNG) expansion project.
Gazprom and CNPC sign technical deal on Far East route for supplying Russian gas to China
Gazprom and CNPC have signed a technical agreement on the Far East route for supplying Russian gas to China, Gazprom said in a statement. The pair signed a long-term gas supply deal in February underpinning the construction of a pipeline from Russia’s Far East into China, underscoring Moscow’s strategic pivot to Asia.
US LNG flows into high-priced Europe, deserts China
The US more than doubled LNG exports to Europe in the first four months of the year, according to the Energy Information Administration (EIA).
Oil rises to three-month high as Saudis signal demand confidence
Oil extended gains to the highest level in almost three months after Saudi Arabia signalled confidence in the demand outlook by increasing the price of its crude for Asia by more than expected.
China will take advantage of Russia’s energy dilemma, EU says
The European Union’s top trade official said China will exploit Russia’s need to diversify where it sells its energy, with the bloc set to ban as much as 90% of Moscow’s crude oil imports by year’s end.
Carbon capture in Southeast Asia: myths and realities
In recent years the debate around carbon capture utilisation and storage (CCUS) has gained traction in Southeast Asia. However, the establishment of CCUS in the region is likely to be limited to gas processing and some industrial applications, reckons the Institute for Energy Economics and Financial Analysis (IEEFA).
China in talks with Russia to buy oil for strategic reserves
China is seeking to replenish its strategic crude stockpiles with cheap Russian oil, a sign Beijing is strengthening its energy ties with Moscow just as Europe works toward banning imports due to the war in Ukraine.
Oil extends gains as investors weigh Russian ban, China outlook
Oil advanced for a third day, bookending another tumultuous week of trading as investors weigh the prospect of a European Union ban on Russian crude imports and uncertainty over China’s virus resurgence.
Transition needs set to energise China’s nuclear power sector
Nuclear power will play a crucial role in China’s decarbonisation drive with capacity set to expand 7% every year to 2035, according to S&P Global Ratings.
China buyers hungry for US LNG as European demand set to surge
Russia’s invasion of Ukraine seems to have jolted China based buyers of liquefied natural gas (LNG) into signing more deals with US-based LNG export developments as global competition for the fuel surges.
Oil heads for longest run of monthly gains since early 2018
Oil is poised to eke out a fifth monthly advance after another tumultuous period of trading that saw prices whipsawed by the fallout of Russia’s war in Ukraine and the resurgence of Covid-19 in China.
CNOOC denies plans for $3 billion UK North Sea exit
CNOOC has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada.
Higher prices ‘undoubtedly’ encourage investment as North Sea eyes up to 20 billion more barrels
Energy Voice talks to Jason Fox, Managing Partner, London, and Alastair Young, Partner, at Bracewell (UK) LLP on the future of North Sea investment as Brent crude oil remains at around $100.
Oil sinks below $100 as China’s lockdowns imperil demand outlook
Oil pushed lower at the start of the week on concerns that a spreading Covid-19 outbreak in China will weigh on global demand.
China oil giant Cnooc jumps as much as 44% in mainland debut
Cnooc Ltd jumped as much as 44% in its first day of trading in Shanghai as mainland investors leaped at the chance for exposure to soaring oil and gas prices.