China Classification Society (CCS) is reporting the successful surveying of the world’s first 100,000 DWT deep-water semi-submersible floating production storage and offloading installation (FPSO).Dubbed Shen Hai Yi Hao, the platform is formally commencing production after being installed at the Lingshui (LS) 17-2 gas field in the South China Sea following an announcement by Wang Dongjin, the chairman…
Oil prices fell on Monday on worries over China's economy after a survey showed growth in factory activity slipped sharply in the world's second-largest oil consumer, with concerns compounded by a rise in oil output from OPEC producers.Brent crude oil futures slid by 74 cents…
Chinese refinery crude oil throughput has reached its highest level ever, with total processed volumes up 12% in the first five months of this year compared to 2020, and up 10.9% from the same period in 2019. In total 292.7m tonnes have been…
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 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…
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…
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…
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…
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…
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…
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'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…
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…
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…
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…
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