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China Energy News

 

CNOOC Finds Shale Oil in South China Sea Exploration Well

Jul 29, 2022

China's CNOOC Ltd has tapped commercial flows of oil and gas from a shale exploration well in the South China Sea, marking the first successfully drilled shale oil well offshore China, state media reported on Thursday.Exploration well Weiye-1, sunk at the southwestern trough of Beibuwan basin in South China Sea, tested daily production of 20 cubic meters (126 barrels) of oil and 1,589 cubic meters of natural gas…

China Moves to Buy More Russian Oil, but Will it Help or Hinder?

Jun 30, 2022

China is laying the groundwork to take an ever increasing share of steeply discounted Russian crude oil in a move that could, in theory at least, free up supplies from other countries and boost the supply of refined fuels.The world's biggest crude importer bought record volumes from Russia in May…

China Moves Another 2 Million Barrels of Iranian Oil into Reserve Tanks

May 18, 2022

China is set to receive close to two million barrels of Iranian oil this week and pump into a reserve base in south China, according to tanker tracker specialist Vortexa Analytics.Diona, a very large crude carrier owned by National Iranian Tanker Company (NITC)…

Asia's Largest Offshore Jacket Installed in South China Sea

Apr 18, 2022

Asia's largest offshore jacket Haiji-1 was last week installed in the South China Sea by the Chinese offshore engineering and construction company COEEC.With a total height of 302 meters and 30,000 tons of weight exceeding the lifting capacity of the world's largest derrick barge…

China's CNOOC Reports Record Profit, Output for 2021

Mar 30, 2022

China's CNOOC Ltd posted record annual net profit for 2021, with earnings nearly tripled from 2020, supported by rapidly rebounding oil and gas prices as global energy demand recovered from the pandemic.The state-controlled offshore oil and gas specialist posted a net profit of 70…

China Taps Alternative Payments to Keep Russian Oil Flowing

Mar 04, 2022

Chinese refiners are paying for Russian crude oil using cash transfers to maintain imports from Russia’s Fast East, as banks shy away from financing the oil because of sanctions, sources with knowledge of the matter said.Global oil prices have…

China Approves New LNG Receiving Terminal in Fujian Province

Feb 16, 2022

China's state economic planner has approved natural gas company Hanas Group's plan to build a receiving terminal for liquefied natural gas (LNG) in the southeastern province of Fujian.The terminal will have an annual receiving capacity of 5…

China Sinopec Tenders to Sell Up to 45 LNG Cargoes for 2022

Jan 19, 2022

China's Sinopec Corp has issued a tender to sell up to 45 cargoes of liquefied natural gas for 2022 deliveries, in a rare sell tender of the super-chilled fuel to take advantage of high Asian spot prices, said traders who were invited to bid…

China Oil Demand to Peak by 2030

Dec 27, 2021

China's oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tonnes per year by 2030, a research institute affiliated with China National Petroleum Corp (CNPC) said on Sunday…

HMH to Deliver Pressure Control System for GMGS Drillship

Dec 14, 2021

Offshore drilling solutions provider HMH has been awarded the contract to deliver a pressure control system to Guangzhou Marine Geological Survey (GMGS) drillship.The system will comprise of a blowout preventer (BOP) stack, including the new SeaONYX V…

Cheniere to Sell US LNG to China's Foran Group

Nov 29, 2021

U.S. liquefied natural gas (LNG) company Cheniere Energy Inc said Wednesday its marketing arm agreed to sell LNG to a unit of Chinese natural gas distribution company Foran Energy Group Co Ltd for 20 years starting in January 2023.Analysts said…

China: CNOOC Starts Oil Production from Lufeng Offshore Development

Nov 23, 2021

Chinese national oil company CNOOC has started producing oil from Lufeng offshore oil fields in the eastern section of the South China Sea.The oil fields include Lufeng 14-4 oil field, Lufeng 14-8 oil field, Lufeng 15-1 oil field, and Lufeng 22-1 oil field…

China's Diesel Exports Dip Amid Domestic Supply Squeeze

Nov 18, 2021

China's diesel exports fell in October after a rebound the previous month as refiners diverted more supplies to the domestic market to make up for a supply squeeze following months of production curbs.China shipped abroad 560,000 tonnes of diesel last month…

China Looks to Lock in US LNG as Energy Crunch Raises Concerns

Oct 15, 2021

Major Chinese energy companies are in advanced talks with U.S. exporters to secure long-term liquefied natural gas (LNG)supplies, as soaring gas prices and domestic power shortages heighten concerns about the country's fuel security, several sources said…

CNOOC Starts Production from Bozhong 19-4 Project

Sep 24, 2021

Chinese offshore oil producer CNOOC said Friday it had begun producing oil from its Bozhong 19-4 project in the south of the Bohai Sea. Located in an average water depth of about 21 meters, the project uses the existing processing facilities of Bozhong 25-1 oilfield…

Current News

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Maersk Training, NaMICPA to Set Up GWO Training Center in Nagasaki
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