NEWS
China - February 20, 2015
Very large crude carriers are reported to be sailing at the fastest speed in 2.5 years with the plunge in oil prices spurring the demand for cargoes, according to data…
READ MORE
Back toour markets
China Overview
in figures
Oil Reserves26 billion barrels
Oil Production3.98 million bopd
Gas Reserves8.4 tcm
Gas Production209.2 bcm
China: A central figure
China boasts the second largest economy and largest population in the world. In addition, the country occupies the top spot in crude oil imports and the fourth spot in production figures, making it a central figure in the global energy markets. Three national oil companies in China, China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corporation (Sinopec Corporation) and China National Offshore Oil Corporation (CNOOC), account for the lion’s share of upstream and downstream oil and gas activity in the country.
Currently, China is undergoing a shift in focus from a country with economic drivers based in manufacturing and heavy industries to one based in services and domestic consumption. Adding to the nation’s economic shift, the Chinese government is determined to curb environmental pollution by switching its heavy reliance on coal burning to cleaner energy sources such as natural gas.
Interview
Trinidad and Tobago - May 16, 2024
Curtis Boodoo of the University of Trinidad and Tobago talks about why continuous education is important for engineers and…
READ MORE
NEWS
Kuwait - May 14, 2024
KPC has signed a contract renewal for the supply of 300,000 bopd to China's Unipec.
READ MORE
NEWS
Saudi Arabia - May 06, 2024
Saudi Aramco has awarded a USD 1.7-billion EPC contract for gas infrastructure to CPECC.
READ MORE
NEWS
Mozambique - May 02, 2024
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's end.
READ MORE
NEWS
Iraq - February 20, 2015
Russia’s Lukoil has completed a 2D-seismic survey at its block 10 concession in southern Iraq.
The survey began in April 2014 and finished four months ahead of…
READ MORE
NEWS
- February 18, 2015
China is considering the option of merging some of its state-owned oil companies in order to compete with the largest oil companies and operate more efficiently while…
READ MORE
NEWS
China - February 16, 2015
On Monday, China released new regulations allowing the import of oil by smaller refining firms in a move to increase private investment. The country’s oil and gas…
READ MORE
NEWS
China - February 11, 2015
South Korea’s SK Innovation signed two production-sharing contracts with China National Offshore Oil Corp. (CNOOC), the Chinese company announced Tuesday. Both blocks…
READ MORE
NEWS
Brazil - February 11, 2015
The first well at Brazil’s offshore Libra oilfield has been successfully tested, state-owned Petrobras announced on Tuesday, though there have been reports of more…
READ MORE
NEWS
Oman - February 09, 2015
Oman’s oil production increased marginally during the January-November 2014 period, according to new official data reported over the weekend. Overall crude and…
READ MORE
Interview
Abu Dhabi - January 13, 2015
The UAE’s Minister of Energy H.E. Suhail Mohamed Faraj Al Mazrouei talks to TOGY about developing new oil, gas and alternative resources to ensure long-term…
READ MORE
Interview
Abu Dhabi - January 7, 2015
Abdulla Nasser Al Suwaidi, director general of the Abu Dhabi National Oil Company (ADNOC), the custodian of oil, gas and petrochemicals development in Abu Dhabi, talks…
READ MORE
NEWS
Peru - January 05, 2015
The China National Petroleum Company (CNPC), the state-owned Chinese exploration and production major, announced plans to expand oil production over the weekend through…
READ MORE