China's Sinopec Finds Shale Oil at Shengli Field
A unit of state-run oil Chinese and gas major Sinopec Corp has found an initial 458 million tonnes (3.34 billion barrels) of geological shale oil reserves at its Shengli field, the official Xinhua news agency reported on Tuesday.Shengli, in Shandong province, is one of China's largest conventional oil and gas fields but Sinopec, has been exploring the Jiyang trough at the deposit for unconventional resources in a bid to bolster production.In 2019, the
Asian Producers to Boost Winter Gas Supply
China Petroleum & Chemical Corp, known as Sinopec, said it has secured 8.81 billion cubic metres (bcm) of natural gas for northern China for the upcoming winter heating season, state-owned Xinhua News Agency reported on Tuesday.That was up 15.5% from 7.63 bcm in the previous heating season.CNOOC Group, China's largest offshore oil and gas producer, plans to supply around 24.5 bcm gas, or 1.5 bcm more than last year, across the country, Xinhua reported
CNOOC Developing New Deep Sea Gas Block in South China Sea
China's offshore oil and gas producer CNOOC has started developing a new gas field in the South China Sea, the official Xinhua News Agency reported on Tuesday.The Lingshui 17-2 gas field is the first deep sea gas block fully operated by a Chinese company, Xinhua said citing CNOOC officials.The deep sea project, which was discovered in 2014, is 150 km (94 miles) south of China's southern Hainan island, with an average operational depth of 1,500 metres,
Asian Shares, Oil Fall as US-China Trade Spat Escalates
Asian shares fell to a 2-1/2 week low on Monday after U.S. President Donald Trump cranked up trade tensions by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind.Fears of a global trade war added to pressure on oil prices, which extended Friday's big fall, while the dollar retreated from near 3-week highs against the safe haven yen.Spreadbetters suggested a subdued start for European shares…
China's Giant Floating Solar Plant Goes Live
China's Three Gorges Group started producing power from a 150-megawatt floating solar plant in east China, the largest of its kind in the world, official Xinhua news agency reported on Sunday. The solar power project in Huainan in Anhui province, developed by the new energy unit of state-run Three Gorges Group, is expected to be in full operation in May next year, the report said.
China's Appetite for Crude Could Wane
The sharp slowdown in China's refinery processing in July may be another warning sign that the robust growth in crude oil demand this year in the world's top importer is poised to moderate. Refinery throughput was 45.5 million tonnes of crude in July, or about 10.71 million barrels per day (bpd), the lowest operating rate since September last year, and a drop of 500,000 bpd from June.
Full Tanks & Tankers: A Stubborn Oil Glut Despite OPEC Cuts
After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. Investors hailed the drawdowns as the beginning of the end of a two-year supply glut - raising hopes for steadily rising per-barrel prices. It hasn't worked out that way. Now, many of…
China coal province to Cut pollution by 20 pct by 2020
One of China's top coal-producing provinces has vowed to slash its level of fine particle pollution by one-fifth by 2020, the official Xinhua news agency reported on Saturday, citing the provincial government. China has adopted various measures from policing barbeques to halting industrial production in efforts to ease the yearly winter haze that hit the country earlier this month leaving cities veiled in foul-smelling smog.
Etern Inks $1.1 Bln Bangladesh Power Grid Deal
China's Jiangsu Etern Co Ltd signed a deal worth $1.1 billion to strengthen the power grid network in Bangladesh, the company said on Thursday, ahead of a visit to the country by Chinese President Xi Jinping. The Power Grid Company of Bangladesh Ltd and Etern signed the four-and-a-half year deal to "expand, rebuild and upgrade Bangladesh's nationwide electrical network system", Etern said in a filing to the Shanghai stock exchange.
Blast at Chinese Refinery, No Casualties
Equipment at an oil refinery in the eastern Chinese city of Nanjing caught fire and exploded on Sunday, state media said, in the country's latest industrial accident. The explosion occurred at around 1:50 p.m. at the Jinlingshihua Nanjing Refinery, a subsidiary of Sinopec Group, the official Xinhua news agency said, adding that no casualties had yet been reported.
China, Africa Ink $17 bln Preliminary Cooperation Pacts
Chinese companies and banks agreed preliminary deals with African counterparts on $17 billion worth of cooperation in sectors including infrastructure, energy, pharmaceuticals and information technology, the official Xinhua News Agency reported on Thursday. Companies and financial institutions signed letter of intent for 39 cooperations pacts at a China-Africa economic and trade event in Beijing attended by more than 400 delegates.
G7 Foreign Ministers discuss Nuclear, Maritime Issues
In a city obliterated by a U.S. atom bomb more than 70 years ago, Japan kicked off a gathering of foreign ministers from the Group of Seven (G7) advanced economies with a call to end nuclear weapons. Japanese Foreign Minister Fumio Kishida, who presides over the two-day annual meeting this year, said on Sunday that ministers will also discuss anti-terrorism steps, maritime security and issues related to North Korea, Ukraine and the Middle East. U.S.
China's Perfect Diesel Storm Could Hit Asian Fuel Market
Should Asia be bracing itself for a flood of gasoil from China in the second quarter? It would certainly appear that the conditions for a sharp rise in exports of gasoil, the refinery term for middle distillate fuels diesel and kerosene, are in place. These include stocks of Chinese oil products at a four-year high, rising refinery runs but soft domestic consumption, and gains in crude imports.
China to Supply Petroleum Products to Landlocked Nepal
China has agreed to supply petroleum products to Nepal, a landlocked and impoverished country which has been trying to lessen its dependence on India, its large neighbour to the south. After a visit to Beijing by Nepali Prime Minister K.P. Oli, the two countries said on Wednesday they have "agreed to conclude a commercial deal on the supply of petroleum products from China to Nepal".
China Sees Energy Consumption Rising in 2016
China expects its energy consumption to grow in 2016, the official Xinhua news agency of the world's largest energy consumer said on Tuesday. China's apparent demand for crude oil will reach 550 million tonnes (11 million barrels per day) and apparent demand for natural gas will hit 205 billion cubic metres, Nur Bekri, head of the National Energy Administration (NEA), said, according to Xinhua.
China Sees 2016 Energy Consumption Rising
China expects its energy consumption to grow in 2016, the official Xinhua news agency of the world's largest energy consumer said on Tuesday. China's apparent demand for crude oil will reach 550 million tonnes (11 million barrels per day) and apparent demand for natural gas will hit 205 billion cubic metres, Nur Bekri, head of the National Energy Administration (NEA), said, according to Xinhua.
China Passes New Pollution Law, Will Cap Coal Consumption
Legislators have approved amendments to China's 15-year-old air pollution law that grant the state new powers to punish offenders and create a legal framework to cap coal consumption, the Asian giant's biggest source of smog. The draft amendments were passed by 154 votes to 4, with five abstentions, Zhong Xuequan, spokesman for the National People's Congress (NPC), China's parliament, told a media briefing on Saturday.
Controversial China Rig Completes Drilling off Vietnam
The Chinese oil rig at the centre of last year's standoff between China and Vietnam over oil exploration in the South China Sea has completed drilling of a well not far from Vietnam's coast, the official Xinhua News Agency said on Monday. Xinhua did not give coordinates for the well, but the China's Maritime Safety Administration website earlier put the drilling…
China Launches Oil & Gas Trading Platform
A new trading platform for oil and gas was launched in China on Wednesday, state media reported, as the world's largest energy consumer looks to extend its influence over global commodity pricing. run. "We expect (gas) trading volumes at SHPGX would range from 5 billion cubic meters to 6 billion cubic meters in second half of 2015 and annual trading volumes at SHPGX would be more than 10 billion cubic meters in 2016…
CNPC Makes Tight Oil Find over 100 mln tonnes
Chinese state-owned energy giant China National Petroleum Corp (CNPC) has discovered more than 100 million tonnes of tight oil geological reserves in its Changqing field, a company-run newspaper said on Tuesday. The discovery, located in the western province of Shaanxi, is the first Chinese tight oil find to surpass 100 million tonnes, the China Petroleum Daily said. Technically recoverable reserves may be considerably lower.
