China's independent refiners are boosting their profits from processing low-priced Russian oil as western sanctions on Moscow give them leverage to negotiate for steeper discounts, industry sources and analysts said.The Group of Seven (G7) nations introduced a ceiling price of $60 a barrel for Russian oil from Dec. 5 and the European Union banned Russian seaborne imports to limit Moscow's ability to finance its war in Ukraine…
PetroChina International has taken delivery of a large liquefied natural gas (LNG) carrier from China's Hudong-Zhonghua Shipbuilding Group Ltd, the first of three tankers ordered under a joint venture with state shipping firms.The vessel Shaolin…
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…
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 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 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 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…
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'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'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'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…
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…
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…
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 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…
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