China raises coal and gas imports to counter energy crisis
China’s energy crunch pulled in more coal and gas imports in September, as buyers scrambled to ensure adequate supplies to counter a deepening power shortage ahead of peak winter demand.
imports
China’s crude oil imports fall in September
Estimates from OilX show China’s crude oil imports fell 8.6% month-on-month to average 9.62 million barrels per day (b/d) in September. This would imply a year-on-year fall of 18.7%, or 2.2 million b/d, the latest data from the analytics firm showed.
Vietnam’s PV Power seeks $1.4bn loan for gas-to-power
Vietnam's state-run PetroVietnam Power Corp (HM:POW.) has signed a deal to allow a consortium of two local banks to arrange a $1.4 billion syndicated loan for two liquefied natural gas (LNG) projects, the government said yesterday.
China tells gas importers to bear high cost to fix energy crisis
China is urging its liquefied natural gas (LNG) importers to procure more supply to fix its energy crisis, while providing little financial support for firms paying record-high rates for the super-chilled fuel.
Cambo oilfield: Not all barrels are created equal
You do not have to look far to find arguments that the UK is more polarised than it has been for decades.
Surging gas prices squeeze PetroChina with $3bn loss looming
While most gas suppliers look set to benefit from a global spike in gas prices, PetroChina (HK:857) is one of the few exceptions, as regulated prices and rising gas import losses are set to squeeze China’s largest gas producer.
China’s power crunch is world’s latest supply-chain threat as gas shortage bites
China’s energy crisis is shaping up as the latest shock to global supply chains as factories in the world’s biggest exporter are forced to conserve energy by curbing production in part due to gas shortages. Significantly, China the world’s top buyer of natural gas, has not filled stockpiles fast enough, even though imports have surged in the last year. This could spark a global bidding war for gas supplies.
China’s NOCs to spend $120bn on drilling in effort to cut oil imports
China’s national oil companies, CNPC, CNOOC, and Sinopec, are expected to spend over $120 billion on drilling and well services by 2025 to help meet rising domestic oil and gas demand. With 118,000 wells estimated to be drilled in China, analysts at Rystad Energy reckon there will be significant opportunities for innovative suppliers.
US push for LNG in Philippines paints unrealistic picture, IEEFA says
A recent white paper sponsored by the US Agency for International Development (USAID) promotes the benefits of liquefied natural gas (LNG) in the Philippines. But it makes overly optimistic claims about the financial, economic and environmental benefits of LNG, reckons the Institute for Energy Economics and Financial Analysis (IEEFA).
Vietnam to start maiden LNG imports in 2022
Vietnam aims to begin importing its first liquefied natural gas (LNG) cargoes in 2022 as part of a longer-term plan to maintain stable natural gas supply and meet rising demand for power, the country’s Minister of Industry and Trade Nguyen Hong Dien said.
Australian LNG exports to China hit record
Australian exports of liquefied natural gas (LNG) to China hit a new record for the full year ending June 2021 despite increased trade tensions between the two nations.
China’s oil imports fall on higher prices and Delta variant
Estimates from OilX show China’s crude oil imports fell 4.47% month-on-month to 9.36 million barrels per day (b/d) in July. This would imply a year-on-year fall of 22.4%, or 2.7 million b/d, the latest data from the analytics firm showed.
China overtakes Japan as Australia’s top LNG export destination
China overtook Japan as Australia’s top LNG export destination in the financial year ending June 2021 with 29.8 million tonnes (39%) of Australian export volume, slightly more than 29.4 million tonnes (37%) recorded over the same period a year before, reported EnergyQuest.
Lifting of Iran sanctions to spark fight for oil market share in Asia
The expected return of Iranian oil to the market as US sanctions are likely to be lifted over the next year will offer new opportunities for former buyers in Asia to reshuffle their oil import mixes. Significantly, the return of Iranian barrels will trigger a fierce battle among global suppliers for market share raising the risk of price drops, reported Fitch Solutions.
China set to become world’s largest LNG importer in 2021
Surging demand will see China become the world’s largest importer of liquefied natural gas (LNG) this year, stealing the crown from Japan, according to forecasts from energy research company Wood Mackenzie.
Outlook for Chinese oil imports remains bullish
China’s crude oil imports rose to 11.69 million barrels per day (b/d) in March, up 21% year-on-year, with further growth expected, reported FitchSolutions.
China’s April oil imports slide on higher crude prices
Estimates from OilX show China’s crude oil imports fell 11% month-on-month to 10.41 million barrels per day (b/d) in April. This would imply a year-on-year increase of 5.37%, or 0.53 million b/d, the latest data from the analytics firm showed.
First oil shipment from Guyana to India sets sail
The first shipment from new oil producer Guyana to the world's third-largest crude importer, India, departed this month from the South American nation in a ship chartered by trader Trafigura, data from Refinitiv Eikon showed on Tuesday.
China’s oil imports surge as Brent cracks $70
China’s crude oil imports surged 28% year-on-year to 12.35 million barrels per day (b/d) in February. This was 2.7 million b/d higher compared to the same period a year ago, the latest data from analytics firm OilX showed.
IEA sees $1.4 trillion clean energy opportunity in India
India is set for the largest increase in energy demand of any country over the next 20 years. This underscores the potential for policies and investment to accelerate the clean energy transition, the International Energy Agency (IEA) said in a new report.
OGA highlights need for North Sea gas as pandemic questions sector’s future
The Oil and Gas Authority (OGA) has published new research in a bid to show the continued need for North Sea resources, despite the Covid-19 pandemic.
South Korea’s LNG imports ebb
South Korea’s LNG imports in September dropped to levels last seen in 2017.
India’s oil imports from Iran surge to record high
India's oil imports from Iran surged to a record high last year as some refiners resumed purchases following the lifting of sanctions against Tehran.
Nigeria says companies to provide $200 million for fuel imports
International energy companies in Nigeria have agreed to provide about $200 million to help fund fuel imports and end shortages, Petroleum Minister of State Emmanuel Kachikwu said.
Osborne says government doing ‘everything’ to tackle cheap steel imports
The Government is doing “everything that is practicable and possible” to allow tougher tariffs on cheap steel, the Chancellor has said.