CHINA OIL UP
Headquartered in Tianjin, COOEC owns another two offshore engineering sites in Tanggu, Tianjin and Zhuhai in Guangdong province. The company's current operational area is around 1.42 million square meters and it plans to expand it to 2.07 million sq m by 2018. China aims to raise petroleum output by updating its technology and stepping up oil and gas exploration across Bohai, East China and South China Seas.
The plan was outlined in an energy development scheme for 2014 to 2020 issued by the State Council on Wednesday.
To accelerate offshore oil and natural gas exploration, China will improve its own technology as well as actively seek overseas partners.
The country will attach equal importance to onshore oil fields, stabilizing old sites and exploring new alternatives, especially those in West China.
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IEA - For the third consecutive year, global energy investment declined, to USD 1.8 trillion (United States dollars) in 2017 – a fall of 2% in real terms. The power generation sector accounted for most of this decline, due to fewer additions of coal, hydro and nuclear power capacity, which more than offset increased investment in solar photovoltaics.
EIA - Crude oil production from the major US onshore regions is forecast to increase 143,000 b/d month-over-month in July from 7,327 to 7,470 thousand barrels/day , gas production to increase 1,066 million cubic feet/day from 69,466 to 70,532 million cubic feet/day .
U.S. FRB - Industrial production rose 0.6 percent in June after declining 0.5 percent in May. For the second quarter as a whole, industrial production advanced at an annual rate of 6.0 percent, its third consecutive quarterly increase. Manufacturing output moved up 0.8 percent in June.
U.S. DT - The sum total in May of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $69.9 billion. Of this, net foreign private inflows were $58.8 billion, and net foreign official inflows were $11.1 billion.