China says no immediate plan to intervene as oil prices soar
China has no immediate plan to intervene in oil markets following Russia’s invasion of Ukraine, according to the foreign ministry.
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Methane emissions ‘significantly higher than countries claim’
Emissions of planet-warming methane from oil, gas and coal production are significantly higher than world governments claim, according to the International Energy Agency.
CNOOC starts work on world’s largest LNG storage tanks
Chinese oil and gas giant CNOOC is set to install the world’s largest storage tanks at the Binhai LNG import terminal in Jiangsu by the end of 2023, reported Reuters.
Gas market shortfall widening, Shell warns
The LNG gap will widen by mid-decade leaving Europe in a particularly tight spot, Shell has warned in its annual outlook.
CNOOC’s $13bn oil, gas deals show China’s supply fears
China National Offshore Oil Corporation (CNOOC) struck $13 billion worth of deals to boost oil and gas supply, as the country aims to avoid a repeat of last year’s energy crunch.
China’s renewables boom poses major challenges to western markets
China’s renewables manufacturing has emerged from 2021 bigger and more competitive than ever before. Western markets are benefitting from trading with the IKEA of the energy transition, but balancing reliance on China’s technology providers with local interests is now a key political, as well as environmental challenge, says Wood Mackenzie.
Russia and China strengthen ties with latest gas pipeline deal
Russia and China are strengthening their energy alliance after agreeing another long-term gas pipeline supply deal amid Moscow’s strained relationship with the West over Ukraine and European gas supply issues.
China may need to rebuild its oil stockpiles, says Vitol
Oil prices, already up around 20% this year, could be boosted by China potentially replenishing its inventories and financial investors increasing their long positions, according to Vitol Group.
Exploration continues offshore Indonesia in Natuna Sea despite China protest
Upstream oil and gas exploration activities in the North Natuna Sea will continue despite persistent protests from China, Indonesia’s upstream oil and gas regulator SKK Migas said.
Biden scours globe to send Europe gas if Russia hits Ukraine
The Biden administration and European allies are searching the world for surplus natural gas to send to Europe in the event conflict erupts over Ukraine, including approaching China about its supplies, according to people familiar with the matter.
China starts up world’s largest green hydrogen plant
Chinese chemical producer Baofeng has started production from the world’s largest green hydrogen plant in the Chinese region of Ningxia raising global installed electrolyzer capacity by 50%. The news highlights how China is beating the world on climate technologies.
Shell starts up first green hydrogen project in China for Winter Olympics
Shell has (LSE:RDSA) started up its first commercial hydrogen electrolyser in China with 20 MW production capacity just in time to supply the Winter Olympic Games.
Global nuclear investments on the rise: $91 billion to be spent in next two years
Nuclear power can be a polarising energy source, but as countries seek cleaner, low-carbon alternatives to fossil fuels, investments in nuclear are projected to soar in the coming years, particularly in China, India and Russia, the latest research from Rystad Energy shows. The consultancy estimates $91 billion will be invested in the global nuclear sector by the end of next year.
China’s Sinopec gets maiden LNG under new Qatari deal
China's state-owned Sinopec reported yesterday that it had received its first liquefied natural gas (LNG) cargo as part of a new supply contract with Qatar Energy.
European gas slumps as China readies to flood market with LNG
European natural gas slumped as a top LNG importer in China prepares to flood the market with fuel that could further ease supply concerns in the continent.
China’s Sinopec floods LNG spot market with cargoes for 2022
A top Chinese liquefied natural gas (LNG) importer is offering to sell dozens of spot cargoes this year, indicating the world’s biggest buyer is well-stocked.
China’s virus lockdowns cast a pall over oil demand growth
China’s worst Covid-19 outbreak since the inaugural flareup in Wuhan is blunting oil demand growth in the world’s largest crude importer, although most major population centers remain unaffected so far.
China LNG demand to peak in 2022
This year will mark a peak for liquified natural gas (LNG) imports into China as domestic production is set to expand and pipeline imports increase, predict analysts at Fitch Solutions.
China cuts crude oil import quota and favors mega-refiners
China’s government cut the amount of crude oil import quota awarded to independent oil refiners and favored large, complex processors as it seeks to reform the sector.
China to spend $3bn on technology company to improve offshore engineering
China will invest $3 billion in a bid to improve its offshore engineering research and development capabilities through the creation of China Ocean Engineering. The new company will focus on the overall design and final assembly of offshore equipment.
Singapore’s Pavilion to supply LNG to China
Singapore’s Pavilion Energy will supply 0.5 million tonnes per year (t/y) of liquefied natural gas (LNG) to China’s Zhejiang Hangjiaxin Clean Energy as the Southeast Asian city state aims to become a regional LNG trading hub.
China’s oil demand to peak by 2030 says CNPC
China's oil consumption is expected to peak at about 780 million tonnes per year (about 111 million barrels) by 2030, driven by strong petrochemical demand, China National Petroleum Corp (CNPC) Economics & Technology Research Institute (ETRI) said on Sunday.
China’s CNOOC signs maiden US LNG deals with Venture Global
US-based Venture Global LNG has signed a pair of liquefied natural gas (LNG) supply deals with China National Offshore Oil Corporation (CNOOC). Significantly, the move underscores China’s increasing appetite for US LNG and it marks the first LNG supply agreement signed by a US exporter with CNOOC, China's largest importer of LNG.
Australian LNG under threat in China market
Australia, which is profiting from surging gas prices in Asia, remains the largest liquefied natural gas (LNG) supplier to North Asia. But its market position in the booming Chinese market is under threat, warned Australian consultancy Energy Quest.
Covid-zero policies and pollution curbs stunt China’s oil demand
China, the world’s biggest buyer of crude, is set to start 2022 with a subdued appetite for oil. For that, you can blame -- or thank -- Beijing’s increasingly tough line on the virus, pollution, and rule-breakers.