China energy giants in talks for Shell’s Russian gas stake
China’s key state-run energy companies are in talks with Shell to buy its stake in a major Russian gas export project, according to people with knowledge of the matter.
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Asia’s largest jacket successfully installed in South China Sea
Asia's largest offshore jacket Haiji-1 was last week installed in the South China Sea by Chinese offshore engineering and construction company COEEC.
Sailaway for Shell’s Penguins FPSO pushed back to Q3
It is understood that the sailaway for the floating production storage and offloading (FPSO) vessel for the Shell Penguins field has been delayed.
Global wind capacity grew by almost 100 GW in 2021 despite tight supply chain
Supply chain woes and inflation couldn’t stop the growth of renewables last year as wind capacity grew by almost 100 gigawatts (GW).
Oil fluctuates as traders assess China’s vow, unrest in Libya
Oil fluctuated as China vowed to repair the economic damage caused by a spate of lockdowns, and crude supplies from Libya were disrupted.
China is planning record wind and solar power additions this year
China is set install a record amount of wind and solar power capacity this year as the country strives to meet climate goals while reducing its reliance on the rest of the world for energy.
IEA cuts oil demand forecast as China reimposes lockdowns
The International Energy Agency cut its forecast for global oil demand this year after China reimposed lockdowns to contain the spread of a resurgent coronavirus.
China slashes LNG purchases on high prices and pandemic slowdown
China is slashing liquefied natural gas (LNG) purchases as soaring global prices deepen import losses and pandemic lockdowns throttle domestic demand.
Oil slumps as China’s worsening outbreak raises demand concerns
Oil resumed its decline as China’s virus resurgence worsened, raising concerns about demand from the world’s biggest crude importer.
China signs another deal to buy US LNG
US-based NextDecade will supply China’s ENN with 1.5 million tonnes per year (mtpy) of liquefied natural gas (LNG) for 20 years, starting as early as 2026, from the proposed Rio Grande export project in Texas. Significantly, this is the fourth US-China LNG deal struck in the past two weeks.
Asia’s $350 billion gas buildout intensifies clean energy debate
Asia is pumping billions of dollars into new gas infrastructure, making the region pivotal in a debate over the role of the fossil fuel as the world aims to curb emissions.
China gas buyers seek cheap Russian fuel shunned by the world
China’s top liquefied natural gas (LNG) importers are cautiously looking to purchase additional Russian shipments that have been shunned by the market in a bid to take advantage of cheap prices.
About 650,000 barrels per day of Russian oil to be ‘swapped’ says Woodmac
About 650,000 barrels per day (b/d) of Russian crude oil are to be relocated from advanced economies, and the solution could be ‘crude swapping’, says Wood Mackenzie. Significantly, Russia’s key market China not shoring up large volumes yet.
Harbour Energy, NEO and Waldorf all ‘likely’ destinations for Cnooc assets
The North Sea’s new class of operators could be poised to further strengthen their dominance in the basin with several major assets expected to hit the market.
Cnooc plans share buybacks after record profit on pricey oil
Cnooc Ltd plans to implement share buybacks and guarantee dividends through 2024 after its profits soared to a record last year.
Chinese oil giant Cnooc planning North Sea exit as part of ‘strategic shift’ – report
Chinese oil giant Cnooc (TSX: CNU) is putting plans in place to pull out of the North Sea, according to reports.
Oil extends losses on China demand concerns ahead of OPEC+ meet
Oil kept falling after capping the biggest loss in almost three weeks on concern that a virus flare-up in China will weigh on global demand.
India well placed to seize Russian oil opportunities
India is well positioned to capitalise on Russian oil opportunities and is gradually stepping up as a buyer of Russia’s oil exports.
China oil giant plans record $31bn spend on energy security push
Sinopec will spend record amounts this year to increase oil and gas drilling as China aims to bolster its energy security and insulate itself from volatile global commodity markets. Significantly, the news comes as the Chinese giant pauses new investment in Russia projects over sanctions risk.
China LNG imports from Russia doubled in February as demand fell
China imported twice as much liquefied natural gas (LNG) from Russia last month than a year earlier, despite weakened appetite for spot purchases because of high prices.
War complicates Russia’s role in supplying energy to China
China and Russia’s trade relationship has become more complicated since the war started more than three weeks ago, raising questions about the future flow of energy between the two powerhouses.
Europe’s plan to quit Russian fuel starts a global fight for gas
The liquefied natural gas (LNG) market is primed for a global battle for supply with far-reaching repercussions as the threat of Russia cutting off Europe sends the continent scrambling for alternatives.
Aramco restarts major refinery plan in China
Saudi Aramco has taken a final investment decision (FID) on a major refinery and petrochemical project in China.
Escalating Moscow-Western tensions speed up Russia’s energy pivot to China
The Ukraine crisis has pushed Moscow and Beijing closer together as Russia and China jointly push back against US dominance.
China among the leading contenders to snap up BP’s stake in oil company Rosneft
There is general consensus amongst analysts that oil giant BP will face an uphill struggle to find a buyer for its stake in Rosneft.