For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies.The long-awaited opening accompanies a reshuffle of the so-called 'midstream' pipeline business, but experts say it may not excite immediate interest from global drillers because of the poor overall asset quality of China's hydrocarbon resources…
The more you delve into the details of China's commitment to buy an additional $52.4 billion in U.S. energy over the next two years, the more it becomes apparent the goal is unachievable, even with the best will in the world.As part of the 'Phase 1' trade truce between Beijing and Washington…
After over a year of trade tensions, the US and China signed a “phase one” trade deal on 16 January. As part of the deal, China has agreed to increase the value of energy imports by $52.4 billion above 2017 levels over the next two years. What could it mean for the oil market…
PetroChina Co Ltd, China's leading energy firm, expanded its oil and gas trade in 2019, recording a rise of nearly 5% from prior year to exceed 500 million tonnes oil equivalent, according to a statement posted on the website of parent firm China National Petroleum Co on Thursday…
China's gasoline exports in November nearly tripled from a year ago to an all-time high, as refiners processed crude at near record rates to take advantage of sturdy profit margins at home although domestic demand for the motor fuel remained sluggish…
Asia-Pacific refineries are forking out multi-year high premiums for sweet crude produced in the region as alternative supplies from the West have become more expensive with the rise in shipping costs, several trade sources said on Monday.Lower…
Vietnam's state-run Binh Son Refining and Petrochemical Co (BSR) has inked an agreement with Azeri state energy company SOCAR to buy five million barrels of crude in 2020, BSR said late on Friday.SOCAR Trading will provide five million barrels…
Recent research by Wood Mackenzie indicates that Asia Pacific’s decarbonization bill could hit $3.5 trillion by 2040. This includes investments in solar, wind, hydrogen, nuclear and hydro power, collectively referred to as zero-carbon energy between now and 2040…
China's state planner expects this winter's energy supply and demand to be generally balanced amid increasing natural gas output and liquefied natural gas (LNG) imports, state news agency Xinhua reported on Tuesday.Citing unidentified officials…
International energy firms will be invited to participate in India's privatization of state-owned oil companies, the country's Oil Minister Dharmendra Pradhan said late on Monday.Pradhan said Indian Prime Minister Narendra Modi recently met with the chief executives of energy firms in Houston…
‘To lose patience is to lose the battle’ -Mahatma GandhiIndia is something of a conundrum for global LNG players. I recently returned from a week in Delhi, just as the capital was making headlines for one of the worst episodes of air pollution…
Natural gas will continue to play a dominant role in generating electricity in Singapore while the state plans to accelerate the use of renewable energy, primarily solar power, in the next decade to battle climate change, a senior government official said…
Saudi Arabia held its position as China's largest crude oil supplier in September helped by demand from new refineries and as imports from Iran and Venezuela continued to fall due to U.S. sanctions, customs data showed on Friday.The drone and…
Following several years of natural gas consumption outpacing local production growth, China is introducing incentives to spur several forms of domestic production in hopes of reducing its reliance on imports.China’s natural gas imports, both by pipeline and as liquefied natural gas (LNG)…
China has lifted its crude oil import quotas to allow mostly private refiners to bring in a further 12.9 million tonnes this year, a document seen by Reuters showed on Tuesday, feeding a new generation of huge refineries.The third batch of quotas was allocated to 19 companies…
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