All publications by tag «CHINA»
Cnooc said it plans to lift capital spending to between Rmb60bn and RMB70bn this year, from budgeted capex of Rmb50.3bn in 2016. It intends to produce between 450m and 460m barrels of oil equivalent this year, compared with an estimated 476m last year.
China’s oil production is forecast to fall by as much as 7 percent this year, extending a record decline in 2016.
SHARES of China National Petroleum Corp and Sinopec rebounded during the week on reforms that are set to transform the two oil and gas giants into more competitive and market-focused entities.
China aims to raise the ratio of non-fossil fuel consumption to 14.3 percent in 2017, while cutting the ratio of coal to 60 percent.
U.S. and European Union sanctions and a collapse in global oil prices have hurt the Russian economy and starved it of much-needed foreign investment.
China's state oil and gas majors are set to import record levels of liquefied natural gas (LNG) this month, betting on robust demand during the cold winter months and helping lift Asian prices to their highest in nearly two years.
Rosneft and the China National Petrochemical Company (ChemChina) signed a Heads of Agreement on establishing a Joint Venture. The document was signed by Rosneft Chief Executive Officer Igor Sechin, and General Manager of ChemChina Yang Xingqiang.
China’s investment is transforming its smaller Southeast Asian neighbors like never before while helping turn Cambodia, Laos and Myanmar into bigger destinations for its exports.
The auction of the deepwater blocks, four in the Perdido Fold belt near the US side of the Gulf and six in the unexplored Salina basin further south, marked the culmination of the first round of auctions since Mexico enacted a sweeping reform to open a sector closed to private exploration and production for nearly 80 years.
For China’s beleaguered oil sector, a deal by the Organization of the Petroleum Exporting Countries to cut output could offer a lifeline to an industry that has been hammered by low prices—and may also hasten its shift away from a heavy reliance on Saudi crude.