Tag Archives: China

China’s economy is slowly recovering after the country finally ended its austere Zero Covid Policy late last year. The recovery of the world’s second largest economy has been gradual. China was hit hard by a wave of Covid-19 cases as soon as strict national lockdown measures were eased. But now, …

China National Offshore Oil Corporation and France’s TotalEnergies have reportedly completed China’s first purchase of imported liquefied natural gas to be settled in Chinese yuan through the Shanghai Petroleum and Natural Gas Exchange. The deal is reported to have an energy content of 3.2 billion to 3.4 billion British thermal …

Saudi Aramco’s new refinery deal to buy a 10% stake in private Chinese chemical group Rongsheng Petrochemical includes agreements on crude oil storage in eastern China and the supply of plastics and petrochemicals to the Middle East energy giant. Saudi Aramco said on Monday it would buy the stake in …

China’s growing energy needs on the back of a post-COVID economic recovery has put the spotlight on coal, but whether it will come from higher imports or a more aggressive domestic production remains debatable. While some analysts believe that rising domestic output will be sufficient to cater to the coal …

Russia can ensure a steady supply of energy resources to China that it needs, Russian President Vladimir Putin said. “China and Russia complement one another, I am talking about the high pace of development of the Chinese economy and the demand for energy resources. China needs these shipments to be …

Iraq’s State Organization for Marketing of Oil (SOMO) announced that Chinese oil companies were the largest buyers of Iraqi oil during the month of February. According to statistics published on SOMO’s official website, Chinese companies accounted for 7 of the 35 firms that purchased oil last month. SOMO’s data revealed …

China’s installed renewable energy capacity significantly increased in the first two months of 2023, according to data from the country’s National Energy Administration showed on Tuesday. By the end of February, the installed capacity of wind power of China rose 11% year-on-year to nearly 370 million kilowatts. Meanwhile, the installed …

Oil drillers in China set a new record for well depth, drilling 9,396 meters into the ground for what has become the deepest oil well in Asia, Chinese media have reported. The record well is part of a new phase in the development of an oil field in the Taklamakan …

PetroChina announced on Friday that it has completed drilling a well at a depth of 9,396 meters in Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region, making it the deepest horizontal well in Asia. It marks the Tarim Oilfield entering a new phase of oil and gas exploration at a …

Chinese energy commodity imports were underwhelming in the first two months of 2023, but they are expected to pick up later this year with potentially record-high crude oil purchases, even though Beijing has set its lowest annual economic growth target in decades. In January and February, months in which China …