China's Crude Oil Imports Rebound
China's crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance, though independent refineries slowed restocking amid probes by Beijing into trading and taxes.China brought in 41.24 million tonnes of crude oil last month, equivalent to 9.71 million barrels per day (bpd), data from the General Administration of Customs showed on Saturday.That compares with 40.14 million tonnes in June and 51.29 million
Chinese Firms Seek LNG Cargoes, Demand is Strong
Two Chinese firms are seeking liquefied natural gas (LNG) cargoes for delivery over August to November as summer demand in the southern region remains strong and as companies prepare to meet winter demand, industry sources said.China's Shenzhen Energy is seeking two cargoes for delivery into Yuedong over Aug. 19 to 27 and Oct. 30 to 31, in a tender that closes on Aug. 5, the sources said.Beijing Gas is also seeking cargoes for delivery over September…
China's Daily Crude Oil Imports Rebound in April
China's crude oil imports rebounded in April from a month earlier on daily basis as refiners ramped up output amid a recovery in fuel demand with the impact of the coronavirus outbreak easing while crude prices crashed on slumping consumption elsewhere.Crude oil arrivals were 40.43 million tonnes last month according to a full data table released by the General Administration of Customs on Thursday…
Oil Falls, OPEC Backs Deeper Supply Cuts
Oil fell on Thursday as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, and while major producers agreed on deeper output cuts to bolster prices, they could not immediately secure Russian support for the decision.Brent crude fell by 33 cents, or 0.6%, to $50.80 a barrel by 1338 GMT. U.S. West Texas Intermediate (WTI) was down 20 cents, or 0.4%, at…
PetroChina's oil and gas trade turnover up 5% in 2019
PetroChina Co Ltd, China's leading energy firm, expanded its oil and gas trade in 2019, recording a rise of nearly 5% from prior year to exceed 500 million tonnes oil equivalent, according to a statement posted on the website of parent firm China National Petroleum Co on Thursday.PetroChina International, better known as Chinaoil, the trading arm under the state-run PetroChina, achieved "significant" growth in pre-tax profit last year, the report stated, without providing any
China Aims to Boost Natural Gas Production
Following several years of natural gas consumption outpacing local production growth, China is introducing incentives to spur several forms of domestic production in hopes of reducing its reliance on imports.China’s natural gas imports, both by pipeline and as liquefied natural gas (LNG), accounted for nearly half (45%) of China’s natural gas supply in 2018, an increase from 15% in 2010, according to the U.S.
Natural Gas Consumption Up 10% in China
According to the preliminary estimate, the consumption of natural gas in China exceeded 27 million cubic meters in 2018, registering a YOY increase of more than 10%, said a report.The growing Chinese economy and stricter environmental protection policies drive the growth of natural gas consumption in China. In 2018, the Chinese government introduced several environmental protection…
China Becomes Top Natural Gas Importer
China has overtaken Japan to become the world's top importer of natural gas, as Beijing's crackdown on pollution boosts its demand for the more environmentally friendly fuel, while the restart of nuclear reactors in Japan reduces its LNG imports.China's total natural gas imports over January to October this year via pipeline and as liquefied natural gas (LNG) were at 72.06 million tonnes…
Mexican President Defends Energy Reform from Leftist Attacks
Mexico's president on Thursday defended his decision to open the energy sector against attacks from the man currently favorite to succeed him, saying a rollback of the measure could cost the country billions of dollars in lost investment. The 2013-14 legislative overhaul that ended state oil firm Pemex's decades-long monopoly was the centerpiece of President Enrique Pena Nieto's economic agenda…
NOIA Comments Support Offshore Leasing Program
he National Ocean Industries Association (NOIA) has submitted comments which strongly encourage the Secretary of the Interior to proceed with lease sale planning in all 25 planning areas proposed in the Draft Proposed Outer Continental Shelf Oil and Gas Leasing Program for 2019-2024 (DPP). Specifically, NOIA supports the annual offering of all acreage in the Central and Western Gulf…
China Still the Main Game for Commodity Demand: Russell
China strode like a colossus over major commodity markets in 2017, as the world's biggest buyer of natural resources made its presence felt on demand for coal, iron ore, crude oil and liquefied natural gas (LNG). China's influence on major commodities is likely to remain the single most important factor driving supply and demand in 2018, but that's not to say next year will simply be a repeat of what happened this year.
China's LNG Woes Boost Coal, But for How Long?
A sure sign that China is struggling with its planned switch to natural gas from coal for winter heating is the spot price of Australian coal climbing back above $100 a tonne. Spot cargoes of thermal coal from Australia's Newcastle port , an Asian benchmark for the fuel used mainly in power plants, rose to $100.65 a tonne on Wednesday, breaching the triple-figure barrier for the first time since Nov. 1 and hitting their highest since mid-September.
China's Nov. NatGas Imports soar, Crude Shipments Rebound
Total natural gas imports jump to record as industrial and commercial users face gas shortage. China's natural gas imports in November rose to a record as domestic demand surged while crude imports were the second-highest ever, as refiners ramped up output to cash in on strong profits as fuel prices soar, customs data showed on Friday. November gas arrivals, including pipeline imports and liquefied natural gas (LNG) shipments…
Poland has Natgas Exports 'understanding' with U.S.
Poland's desire to cut natural gas imports from Russia has led to an "understanding" with the United States to work toward a deal to export liquefied natural gas to its new Baltic Sea terminal, the country's deputy prime minister said on Wednesday. Mateusz Morawiecki, who is also the minister of economic development and finance, said in an interview that discussions with new U.S. "The word agreement is probably premature. Understanding?
Dana Gas: No Gas Import Deal with Iran
The United Arab Emirates' Dana Gas has not been able to reach an acceptable deal with Iran on natural gas imports into the UAE, and an arbitration process will continue, chief executive Patrick Allman-Ward said on Tuesday. However, Dana and its affiliate Crescent Petroleum are still open to further discussions with Iran, which also wants to see the dispute resolved, Allman-Ward told reporters.
Ukraine to Lower 2016 Gas Imports
Ukraine is likely to cut its natural gas imports to between 11 billion and 13 billion cubic metres (bcm) this year and source it all from the European Union, bypassing Russia completely, its energy minister was quoted as saying on Wednesday. "There are different scenarios and the (existing) capacity of reverse (gas flows from the EU are) enough to cover this volume," Volodymyr Demchyshyn told the UNIAN news agency regarding 2016.
Ukraine Boosts Gas Imports from Slovakia
Ukraine increased its purchase of natural gas imports from Slovakia by 41 percent on Tuesday, boosting its storage supplies, transport monopoly Ukrtransgaz said. Cash-strapped Ukraine is now buying most of its natural gas from Slovakia after halting imports from Russia three weeks ago due to a pricing dispute. It was unclear whether the increase on Tuesday was due to price factors or other reasons.
Ukraine Halts Russian Gas Imports, EU Flow Unaffected
Ukraine halted natural gas imports from Russia on Wednesday after a failure to agree on a price for the third quarter, state transport monopoly Ukrtransgaz said, in talks loaded with the political tension between the two. "From today, Ukraine is not getting gas from Russia. Transit supplies are as normal," Ukrtransgaz spokesman Maksim Belyavsky said. Russia had proposed keeping prices unchanged from the second quarter at $247 per 1…
Ukraine Faces Loss of Gas Discount if Russia, EU Talks Fizzle
With less than four weeks until its deal for Russian natural gas imports ends, Ukraine risks losing its current discount unless it can agree a new pact, something that took six months and help from the European Commission to achieve last time. Gas has become a double-edged sword in the dispute between Ukraine and Russia after Moscow's seizure of Crimea a year ago. Russia needs the European Union as its biggest market…
Sinopec to Up Winter Gas supply, PetroChina Boosts Imports
Sinopec to hike nat gas supply to domestic users November-March. China's Sinopec Corp plans to supply 11 percent more natural gas to domestic users between November and March, versus year-ago levels, while PetroChina has boosted gas imports to meet rising demand for heating purposes over the winter months. China faced a severe gas shortage last year as consumption peaked during winter in the world's top energy user…
