China is expected to lead the global liquefied natural gas (LNG) regasification capacity additions with 26% of the additions between 2022 and 2026, forecasts GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘LNG Regasification Terminals Capacity and Capital Expenditure (CapEx) Forecast by Region, Countries and Companies including details …
Read More »China in Advanced Talks with Qatar for Gas Stakes Worth Billions
State-owned China National Petroleum Corp. and Sinopec are expected to invest in Qatar’s $29 billion North Field East project, said a person familiar with the situation, who asked not to be identified discussing a private matter. The companies are looking to procure LNG under long-term contracts, two other people familiar …
Read More »China Buys $7.5 Billion of Russian Energy with Oil at Record
China continued to snap up Russian energy products last month, including a record quantity of crude oil, lifting purchases to $7.47 billion — about $1 billion more than April and double the amount of a year ago. The increase in shipments came as the war in Ukraine entered a fourth …
Read More »Japan Confirms again Chinese Development Work in Contested Sea
Japan has confirmed new construction work by China that is suspected to be for gas field exploration, in a contested area of the East China Sea for the second time in about a month. The Foreign Ministry said it has lodged a protest with the Chinese Embassy in Tokyo, after …
Read More »China’s First Self-Developed Subsea Xmas Tree System Put into Operation
China’s first self-developed subsea Xmas tree system has successfully been put into operation in the South China Sea on Tuesday, a key breakthrough in China’s domestic technical equipment for deepwater oil and gas development, China National Offshore Oil Corporation (CNOOC) said on Tuesday. The tree system is believed to be …
Read More »China Ramps up Coal Power to Boost Post-Lockdown Growth
At the end of 2021, authorities in the northern Chinese province of Shanxi fined one of China’s biggest coal companies for illegally mining at more than 50 sites. Jinneng Holding Shanxi Coal Industry had flouted strict production limits, introduced following a series of mining accidents across the country. In one …
Read More »Saudis Cut Oil to China while Meeting most Asian Requests
Saudi Arabia will provide some Chinese buyers with less crude than they asked for next month, while fulfilling requests from many other customers in Asia after OPEC+ pledged to speed up production hikes. Japan, South Korea, Thailand, and India will get the oil volumes they had sought, with some even …
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 »Chinese, Russian Scientists Create Cheap, Efficient New Hydrogen Energy Material
A research team comprised of Chinese and Russian scientists have recently developed a cost-effective and environmentally friendly way to lift efficiency to convert sunlight into hydrogen energy, a method that could help Russia and China enter a new era of clean energy and help both countries take a leading position …
Read More »Easing of Covid Restrictions in China Helps Crude Oil Futures
At a time when the global crude oil market is facing tight supplies, the revival of demand from China following the relaxation of Covid restrictions helped oil futures to trade higher on Tuesday morning. At 10.04 am on Tuesday, the August Brent oil futures were at $120.22, up by 0.41 …
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