China National Petroleum Corp (CNPC) is close to finalising a deal to buy liquefied natural gas (LNG) from QatarEnergy over nearly 30 years from the Middle Eastern exporter’s massive North Field expansion project, three people with knowledge of the matter said. If sealed, this would be the second such deal …
Read More »Russia’s Gazprom, CNPC Agree to Use Rouble, Yuan for Gas Payments
State energy giants Gazprom and China National Petroleum Corporation (CNPC) signed several agreements on Tuesday, including on the use Russian roubles and Chinese yuan to pay for Russian natural gas supplies to China, Gazprom said. The agreements were in addition to a February deal between them to increase gas supplies …
Read More »China Sets Two World Records in Deep-Sea Energy Exploration
China’s self-developed multi-functional modular seabed trencher completed the laying of over 100 kilometers of the first offshore pipeline project in Bangladesh, setting world records in “sea land directional drilling crossing” and “deep-sea trench behind the channel,” the China National Petroleum Corporation (CNPC) announced Saturday. Directional drilling, also called directional boring, …
Read More »Russia and China Ink Huge Oil Deals as Ukraine Tensions Soar
At around the same time as Russian President, Vladimir Putin, had his first in-person meeting with his Chinese counterpart, Xi Jinping, for nearly two years – at the opening of the Winter Olympics ceremony in Beijing – and reiterated that there is ‘no limit’ to how far Russian and Chinese …
Read More »China Oil Demand to Peak by 2030 on Petrochemical Use
China’s oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tonnes per year by 2030, a research institute affiliated with China National Petroleum Corp (CNPC) said on Sunday. Last year, the research group, called the CNPC Economics & …
Read More »China’s Refiners are an Existential Threat to Regional Competitors
China’s build-up of oil refining capacity is threatening the viability of other Asian refiners as the country is about to become the world’s largest refiner this year amid still depressed demand for fuels. Bloomberg reports that the refining capacity of the country has increased threefold over the last 20 years …
Read More »China’s Natural Gas Output to Surpass Oil Around 2025
China’s natural gas output is expected to surpass crude oil production around 2025, China National Petroleum Corp (CNPC) oil and gas exploration expert Zou Caineng said on Friday. Domestic natural gas output from CNPC, China’s largest producer, topped 130 billion cubic metres (bcm) in 2020, up 11.6 bcm from the …
Read More »China Boosts Daily Gas Intake from Gazprom by 20%
China appetite for Russian gas is surging, with daily supplies from the Power of Siberia pipeline exceeding its contractual volumes by 20%, Kallanish Energy reports. Russian gas giant Gazprom said in a note on Monday that it continues increasing its gas supplies to China via the pipeline, with volumes from …
Read More »China Forces Energy Giants to Share in Pipeline Reform Preview
China’s top natural gas buyers have been directed by regulators to share import infrastructure, one of the broadest government efforts yet to enforce reform policies aimed at bolstering energy security and breaking down market barriers between the nation’s three state energy giants. The move comes as the world’s biggest gas …
Read More »Asia to Lead Construction of New O&G Pipelines by 2024
Asia is set to lead the global construction of new trunk/transmission oil and gas pipelines by 2024, holding a 36% of total estimated additions, consulting firm GlobalData said in a new analysis on Friday. The region expects 109 projects with a 46,699-kilometer length of new-build oil and gas pipelines. Roughly …
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