China’s Sinopec signs up for more US LNG
US liquefied natural gas (LNG) developer Venture Global LNG has signed a trio of supply deals with China’s Sinopec. Significantly, the sales contracts will more than double China’s imports of LNG from the US.
Sinopec
Sonangol farm-out plans disappoint
Results from Sonangol’s farm-out plans have been a “disappointment”, Welligence Energy Analytics has reported.
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.
China begins winter gas buying spree at the worst possible time
China is escalating its purchases of liquefied natural gas (LNG) for the winter, exacerbating a global supply shortage and leaving less fuel for energy-parched Europe.
Sinopec makes another big gas find in Sichuan basin
China’s Sinopec has discovered another 34.029 billion cubic metres (cm) of gas reserves at the Zhongjiang field in the Sichuan basin. Total gas reserves in the basin now stand at 106.1 billion cm, said the Chinese national oil company.
Eni, Sonangol sign up Angolan acreages
Eni and Sonangol has signed production-sharing contracts (PSCs) for Blocks 27 and 28 with the Angolan regulator.
Sinopec builds China’s first large CCS project
China’s Sinopec has started building the country’s first large-scale carbon capture utilisation and storage (CCUS) project as part of its target to be carbon-neutral by 2050.
Shell’s $1bn Abadi divestment process struggles after Sinopec’s interest wanes
Shell has failed to generate any significant interest in the sales process for its share of the giant Abadi LNG project one year after the Indonesian government announced the Anglo-Dutch supermajor’s intention to divest.
TotalEnergies dishes out Tilenga work
Total E&P Uganda has signed conditional letters of award for surface facilities and drilling packages under its Tilenga project, in western Uganda.
Mobilisation and MoUs as Algeria heads to vote
Algeria will hold its legislative elections on June 12, offering a slim opportunity for change – although with concerns already around turnout and legitimacy.
McDermott, Sinopec take $2bn Tilenga job
TotalEnergies has chosen McDermott and Sinopec International Petroleum Service Corp. to carry out work Uganda’s Tilenga project.
China’s Sinopec ready to launch first green hydrogen project in 2022
State-backed Sinopec is ready to launch its first green hydrogen project in Inner Mongolia next year as part of an effort to help meet its goal of becoming China's top hydrogen company by 2025.
Sinopec eyes Algeria licence extension
Sinopec has signed a memorandum of understanding (MoU) with Sonatrach, with a focus on its Zarzaitine licence.
China’s Sinopec opens first petrol station fully powered by solar panels
China oil giant Sinopec has started operating its first petrol station where solar panels can fully meet its power needs, as the company pushes ahead in its quest to become a renewable powerhouse.
China’s Sinopec eyes upstream M&A
Chinese national oil company Sinopec is eyeing upstream merger and acquisition opportunities.
Japex sells Canadian shale gas stake to Petronas
Japan’s Japex will sell its 10% stake in a Canadian shale gas project to Malaysia’s Petronas amid concerns over profitability and its carbon footprint.
Buhari returns licences to Addax
Nigerian President Muhammadu Buhari has restored four licences to Chinese-owned Addax Petroleum.
Nigeria takes Addax licences, hands them to Offor
Nigeria has revoked four licences held by Addax Petroleum and handed them to the operator's former contractor.
China’s mega-refineries are throttling other Asia oil processors
The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region.
China’s Sinopec boosts capital spending by 24%
China Petroleum & Chemical Corp, better known as Sinopec, plans a 24% rise in capital spending to 167.2 billion yuan ($25.5 billion) in 2021 as oil prices and energy demand strengthen.
Qatar signs first long-term LNG deal with China’s Sinopec
Qatar Petroleum will supply China’s Sinopec with 2 million tonnes per year of LNG for a ten-year term.
China’s Sinopec strikes major discovery in frontier basin
Sinopec, China’s second-largest energy company has made a significant oil and gas find in the remote Tarim basin in the country’s north-west Xinjiang region.
Chinese oil majors undervalued
Analysis from investment house Bernstein suggests that the Chinese oil majors - CNOOC, Sinopec and PetroChina - offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.
China’s Sinopec is rolling out world’s biggest hydrogen network
Sinopec aims to massively expand its hydrogen refuelling network as the state-owned oil giant, which has the potential to become one of the world’s largest hydrogen producers, attempts to carve out a role in China’s transition to cleaner energy.
Eni tipped to takeover giant Chevron project in Indonesia by March
SKK Migas, Indonesia’s upstream regulator, expects Eni to takeover Chevron’s giant Indonesia Deepwater Development (IDD) during the first quarter 2021. If the move comes to pass, expect other potential buyers, that could include Pertamina, Sinopec, Neptune Energy and Saka Energi, to be in the new IDD mix.