China Petroleum & Chemical Corporation (“Sinopec”) has initiated the drilling of Project Deep Earth 1-Yuejin 3-3XC Well on May 1 in the Tarim basin, Xinjiang Uyghur Autonomous Region. With a design depth of 9,472 meters, it will be the deepest oil and gas well in Asia and a breakthrough of …
Read More »Aramco in Talks with Sinopec, Total on $10B Saudi Gas Deal
Sinopec and TotalEnergies SE are among companies holding talks to invest in the Jafurah development in Saudi Arabia, according to people familiar with the matter, as the kingdom seeks to exploit one of the world’s largest untapped gas fields. The Chinese and French energy giants are in separate discussions with …
Read More »China’s Sinopec to Take Stake in Qatar’s North Field East
China’s Sinopec will take a stake in the eastern expansion of Qatar’s North Field liquefied natural gas (LNG) project, state energy company QatarEnergy said on Wednesday. The state-owned Chinese gas giant will take a 5 percent stake in the equivalent of one North Field East LNG train with a capacity …
Read More »Sinopec Has Big Plans for Green Hydrogen
Sinopec, China’s oil and chemical giant, is set to build the first ‘West to East’ green hydrogen transmission line in the country, according to a report in state media. The company will construct a 400km pipeline from Inner Mongolia’s Ulanqab to Beijing to transfer hydrogen from renewable energy projects in …
Read More »China Wants to Know how much Russian Oil its Independent Refiners are Buying
The Chinese Ministry of Commerce has recently met with representatives of around ten independent refiners to inquire about how much Russian crude oil the private refiners are importing and at what prices, sources familiar with the matter told Reuters on Friday. China is buying increased volumes of Russian crude as …
Read More »SABIC Signs MoU with Aramco, Sinopec to Develop Petchem Complex in Yanbu
Saudi Basic Industries Corp. (SABIC) signed a memorandum of understanding (MoU) with Saudi Arabian Oil Co. (Saudi Aramco) and China Petroleum & Chemical Corporation (Sinopec) to assess the economic and technical feasibility of developing an integrated petrochemical complex with a local refinery in Yanbu Industrial City. The MoU is valid …
Read More »Sinopec Signs Refining, Chemical Deals with Saudi Arabia Firms
Sinopec has signed a framework agreement with Saudi Aramco to build a Phase II 16 million-ton-a-year refining project and 1.5 million-ton-year ethylene units in Gulei, Fujian. The project is expected to be completed and operating by the end of 2025, according to a press release by Sinopec. The Chinese company …
Read More »China’s Sinopec Makes Major Shale Gas Discovery
China Petroleum & Chemical Corporation, Sinopec, announced a significant shale gas discovery in the country’s Sichuan basin in southwestern China on Tuesday. With a daily natural gas production of 258,600 cubic meters and an evaluated resource capacity of 387.8 billion cubic meters, Sinopec described the discovery as “a major breakthrough …
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