Oil Reserves26 billion barrels
Oil Production3.98 million bopd
Gas Reserves8.4 tcm
Gas Production209.2 bcm
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.
Canada's USD 24.7-billionTrans Mountain Expansion (TMX) oil pipeline has begun operations.
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QatarEnergy has struck a USD 6-billion deal with a Chinese shipyard to build 18 of the largest LNG carriers ever constructed.
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Chinese solar module manufacturer JinkoSolar has seen a 150% surge in its 2023 net profits to USD 1.06 billion.
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The Kuwait Authority for Partnership Projects has invited bids for the development and operation of the IWPP for Al Zour North.
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ABB has signed a contract with Japanese engineering entity MODEC to deliver topside and hull electric systems for an FPSO bound for the Uaru oil field in Guyana, the…
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Sinopec has discovered 133 bcm (4.7 tcf) of proven gas reserves in China’s southwestern Sichuan Basin, the E&P company announced on Wednesday.
China’s Ministry of…
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Jumbo Offshore has signed a contract with Japanese vessel builder MODEC for pre-installation of the mooring spread of an FPSO bound for Guyana, the Netherlands-based…
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TotalEnergies has hired former prime minister of Benin Lionel Zinsou to assess its land acquisition programme related to its Tilenga oil production project and…
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Faisal Malallah, CEO of Al Kout Industrial Projects, talks to The Energy Year about the company’s role in Kuwait’s economy and the trends which are currently…
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Hasan Qabazard, CEO of the Kuwait Catalyst Company, talks to The Energy Year about the impact of the Al Zour refinery on Kuwait and the effect of recent developments on…
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US energy giant ExxonMobil has formally handed over its shares in Iraq’s West Qurna 1 oilfield to Chinese E&P player PetroChina, Reuters reported on Monday.
The…
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Energias de Portugal (EDP) has decided to buy back a 49% stake in its former wind projects in Portugal, Poland and Italy, the Portuguese energy company reported on…
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China has set a goal to produce more than half the world’s vessels powered by clean fuels by 2025, Reuters reported on Thursday.
The move aims to heighten…
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