PipeChina to Buy $56B Worth of Pipelines
China took a major step in the reform of its national oil and gas pipeline network, with newly formed PipeChina agreeing to buy pipelines and storage facilities valued at 391.4 billion yuan ($55.9 billion).Under the deal, PipeChina, known formally as China Oil and Gas Pipeline Network, will take over oil…
China to Launch State Pipeline Group
China plans to launch its long-awaited national oil and gas pipeline company on Monday, part of a sector-wide reform aimed at providing fair market access to infrastructure and boost investment in oil and gas production.Most of the country's pipeline infrastructure is controlled by energy giant PetroChina, CNPC's listed arm, and small, non state-owned oil and gas producers and
China's New Shenzhen Terminal Receives First LNG Cargo
China National Offshore Oil Company (CNOOC) started operating a new import facility in southern China for liquefied natural gas (LNG), state media reported on Wednesday.The terminal in the city of Shenzhen, near Hong Kong, on Wednesday received a 93,000-tonne LNG cargo from Qatar, Securities Daily reported, making it the state firm's ninth LNG terminal in operation.The new faci
CNOOC to Build $2.17B LNG Terminal
China National Offshore Oil Company, or CNOOC, plans to build a receiving terminal of liquefied natural gas in the eastern province of Jiangsu- expected to cost $2.17 billion, local media reported .The project, located in the city of Yancheng, will include a berth to anchor 100,000 ton vessels, land-based storage and a pipeline grid.
East China LNG Terminal Records 93% Sales Increase
A liquefied natural gas (LNG) import terminal in east China operated by China National Offshore Oil Company, or CNOOC, recorded an increase of 93 percent in gas sales in the first five months of this year, the state oil company said on Monday,CNOOC's LNG sales from the Ningbo terminal in Zhejiang province hit 2 million tonnes by the end of May, nearly doubling the amount from a
China Offshore Oil Executive Appointed as Energy Policy Official
Li Fanrong, former president of China's offshore oil and gas specialist CNOOC Ltd, has been appointed as a deputy chief of the National Energy Administration, China National Offshore Oil Company said. Li, 52, joined the state energy firm in 1984, shortly after its establishment, with experience mostly in oil and gas exploration and development.
CNOOC Tenders Offshore Blocks, Some in South China Sea
China National Offshore Oil Company, or CNOOC, has issued a tender inviting foreign firms to bid for 18 blocks off China's northern, eastern and southern coast, according to a company statement. The blocks have a total size of 52,257 square km, including three blocks in the Bohai Bay area, one in East China Sea and 14 in the northern part of the South China Sea…
BG Group Takes Control of QCLNG
BG Group announced that operational control of Train 1 at its Queensland Curtis LNG plant has been formally transferred to QGC, BG Group's Australian subsidiary, from Bechtel Australia, which constructed the facility. In addition, the company announced that approval for the sale of its QCLNG gas pipeline has been received from BG Group's Train 1 equity partner…
BG Takes Control of Australian LNG Production Site
British gas producer BG has taken full operational control of the first production facility, known as Train 1, at its Queensland Curtis LNG plant in Australia from builder Bechtel, marking the official start of commercial operations. The Queensland plant is one of Australia's biggest capital infrastructure projects, involving $20.4 billion of investment from 2011 to 2014.
Exxon Discovers Oil in Guyana Offshore Block
Exxon Mobil Corp has discovered oil off the coast of Guyana, the company and the South American nation's government said on Thursday, potentially inflaming a long-running territorial dispute with neighboring Venezuela. The discovery is located in the Stabroek Block off a border region that is claimed by Venezuela in a territorial controversy dating back more than a century…
New Chairmen at Three Chinese Oil Firms
China has appointed new chairmen for the country's top three energy groups, according to company statements on Monday, in a top-down reshuffle of the industry which faces the challenges of spending cuts, low oil prices and easing demand. Earlier on Monday the state-owned Sinopec Group said its chairman, Fu Chengyu, has retired.
China Optimistic of Finding Gas Offshore Vietnam
A Chinese oil rig whose deployment to waters claimed by Vietnam early this month triggered a rupture in ties has a good chance of finding enough gas to put the area into production, Chinese industry experts said. That would give China its first viable energy field in the disputed South China Sea, as well as make it a source of friction with Hanoi for years to come.
China Optimistic of Finding Gas off Vietnam
A Chinese oil rig whose deployment to waters claimed by Vietnam early this month triggered a rupture in ties has a good chance of finding enough gas to put the area into production, Chinese industry experts said. That would give China its first viable energy field in the disputed South China Sea, as well as make it a source of friction with Hanoi for years to come.
