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China Energy News

 

China Seizes 11 Ships in $770 Million Oil Smuggling Bust

Mar 16, 2021

China foiled criminals seeking to smuggle nearly 1 million tonnes of refined oil worth 5 billion yuan ($770 million), with officials seizing 11 ships and detaining 171 suspects in a sprawling swoop on Tuesday, customs authorities said.The operation, which saw customs officers from the port city of Ningbo join forces with local law enforcement and maritime police, spanned eight Chinese regions, including the coastal provinces of Zhejiang…

AGR Secures Contract for Jade Prospect, Offshore China

Apr 28, 2021

Independent energy services company AGR said it has won a contract to assist with well planning and engineering on the Jade prospect in Block 29/11, offshore China.The contract, signed with oil and gas development company Empyrean Energy, will…

China's Fuel Clampdown Curbs Its LCO Imports

Apr 28, 2021

China’s imports of light cycle oil (LCO) are set to fall in coming months as authorities crack down on its illicit trading and sales in South China, dealing a blow to the $10 billion market and to refiners in top supplier South Korea.China’s…

Sinopec Reports $2.9 Billion Q1 Net Profit

Apr 28, 2021

China Petroleum & Chemical Corp swung to a first-quarter profit from a loss a year earlier, with net income reaching 18.54 billion yuan ($2.86 billion), amid a recovery in global oil prices and robust demand for refined oil products.Asia's top oil refiner…

Petronas Exports LNG in ISO Tanks to China

Apr 26, 2021

Malaysia's Petroliam Nasional Bhd said on Monday that it has started exports of liquefied natural gas (LNG) in ISO tanks to China from its filling facility in Pengerang in the southern state of Johor.The country's export of LNG through ISO tanks…

CNOOC Needs to Double Down on Drilling and Deals in Carbon-cutting Gas Pivot

Mar 11, 2021

A rapid rise in offshore drilling and deepwater gas extraction may seem an unlikely path to lower emissions, but are central planks of Chinese energy major CNOOC Ltd’s plan to help hit Beijing’s climate goals.While global peers like BP, Royal…

Venezuelan Oil Exports Rise on Larger Sales to Asia

Mar 02, 2021

Venezuela’s oil exports rose in February to over 700,000 barrels per day (bpd), their highest level in 10 months, pushed by more sales of fuel oil cargoes to new clients in Asian markets, according to Refinitiv Eikon’s tanker tracking data and documents…

UK, Japan Concerned Over East, South China Seas Situation

Feb 03, 2021

Four ministers from Japan and Britain voiced serious concern on Wednesday about the situation in the East and South China seas and opposed any unilateral attempts to change the status quo, in a apparent reference to China’s maritime expansion…

China: INE, PetroChina to Deliver Marine Fuel Overseas

Nov 26, 2020

China's Shanghai International Energy Exchange (INE) said on Thursday it had signed an agreement with PetroChina International Co Ltd to cooperate on the overseas delivery for its low-sulfur fuel oil futures contract.Both parties have reached…

MacGregor Delivers Goods for Chinese Floater

Nov 20, 2020

Cargotec's MacGregor has delivered a riser pull-in system for China-based oil firm CNOOC's Lingshui 17-2 semi-submersible production platform.The deepwater semi-submersible production unit is intended for operation in a deepwater natural gas field in the Qiongdongnan Basin…

Global Crude Market Finds Support From China Demand

Nov 19, 2020

China, the global oil market's lifeline this year, has stepped up purchases from exporters like Russia, the United States and Angola in recent weeks, while buyers elsewhere pare orders as coronavirus infections surge and fresh lockdowns are put in place…

CIMC Gretha SSCV En Route Back to China

Nov 19, 2020

China's CIMC Raffles has informed that the CIMC Gretha semi-submersible crane vessel  left Curacao earlier this month and is on its way back 'home' to China.'CIMC Gretha, the semi-submersible platform managed by CIMC Raffles Asset Management Company…

China's INE Considers Singapore for Marine Fuel Futures Delivery

Nov 18, 2020

The Shanghai International Energy Exchange (INE) is considering using oil storage sites in Singapore owned by PetroChina Co as a delivery point for its low-sulphur fuel oil futures contract, according to two sources with direct knowledge of the matter…

Woodside Stops Talks to Sell Offshore Project Stake to Chinese Firms over Diplomatic Row

Nov 12, 2020

Woodside Energy shelved talks to sell stakes in a gas field and liquefied natural gas (LNG) project to Chinese companies a few months ago because of a growing diplomatic row between Australia and China, the company's chief said on Thursday.Chief…

China Crude Oil Imports Likely Weaker than Data Suggests

Nov 09, 2020

China's imports of crude oil slipped as expected in October, but while a 12.2% drop appears significant, the actual state of demand was probably even weaker.The world's biggest crude importer received 42.56 million tonnes in October, according to customs data released on Nov…

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