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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Angola is working hard to increase its power generation capacity by boosting hydro and solar energy.
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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 ExxonMobil-led Rovuma LNG project in Mozambique has taken a step forward with a bid process for subsea works.
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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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On Thursday, 11 September, President Nursultan Nazarbayev announced that Chinese companies were producing 20 percent of all Kazakh oil.
Speaking at the Shanghai…
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Construction at the Kinyerezi III power plant, one of a set of four Tanzanian gas-powered power plants being built in the Kinyerezi area in Dar es Salaam to extend the…
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The latest in a string of technical difficulties, a pipe rupture on a flare line at Angola’s new $10-billion LNG plant forced a shutdown that is expected to last…
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The intergovernmental agreement to transport Russian oil to China via Kazakhstan’s main pipelines was ratified last week. According to the agreement, approximately 7…
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Kuwait and China signed 10 agreements and memoranda of understanding in diverse areas such as energy, investment and economy during Prime Minister Sheikh Jaber Al…
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On May 21, Russia and China signed a long-coming gas supply deal, estimated at $400 billion, during President Vladimir Putin’s visit to Shanghai.
The deal between…
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On Sunday, Prime Minister Nguyen Tan Dung of Vietnam cautioned China to show prudence after it began drilling for oil in a part of the South China Sea that both nations…
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In 2013, after five years with no licensing rounds, Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) put together three bid rounds and a new…
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Shell announced the farming down of a 23-percent interest in the Parque das Conchas (BC-10) project in the Campos Basin offshore Brazil to Qatar Petroleum International…
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Saudi Arabia has been producing crude oil at record-high average levels of around 10 million barrels per day in 2013. However, there are prerequisites for Saudi Arabia…
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