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2016-09-13 14:55:00

CHINA'S OIL PRODUCTION DOWN BY 10%

CHINA'S OIL PRODUCTION DOWN BY 10%

 

CHINA OIL PRODUCTION CONSUMPTION 1993 - 2016

 

According to REUTERS, China's crude oil output fell almost 10 percent in August from a year ago to the lowest in more than six years, data from the statistics bureau showed, as low prices continue to plague major producers.

China pumped 16.45 million tonnes (3.87 million barrels per day) of crude in August, the least since December 2009 on a daily basis and the second month of sharp decline.

China's shrinking crude output reflects the concerns of the nation's top energy groups, who are struggling to keep their wells open with benchmark Brent prices still down nearly 60 percent from a mid-2014 peak above $115 a barrel.

Sinopec, one of China's largest energy conglomerates, forecast its crude output will drop 16 percent to 147 million barrels in the second half of this year from 175 million barrels in the same period last year.

At Zhongyuan oilfield in central China, one of Sinopec's largest crude deposits, the company said it has reduced its workforce to 4000 workers from 10,000.

Sinopec Chairman Wang Yupu told investors in August the company has closed down some aging wells and reduced output to counter the decline in crude oil prices.

"If the crude prices stay between $45-$50, we will open new discovered reserves to compensate for the drop in output," he said during a half-year earnings presentation.

China's crude output in the first eight months of 2016 was down 5.7 percent to 134.8 million tonnes (4.03 million bpd).

August crude throughput at Chinese refineries was down 0.7 percent from a year earlier to 44.28 million tonnes (10.43 million bpd).

China's natural gas production for August fell 2 percent from a year earlier to 10.8 billion cubic meters, the statistics bureau said in a statement.

-----

Earlier: 

ASIA'S OIL PRODUCTION DOWN 

BP &CNPC CONTRACT 

CHEVRON'S LNG FOR CHINA 

SINOPEC NET PROFIT DOWN 21.6% 

CNOOC NET LOSS ¥7.74 BLN

 

 

 

Tags: CHINA, OIL, PRODUCTION

Chronicle:

CHINA'S OIL PRODUCTION DOWN BY 10%
October, 20, 12:10:00

NORWAY'S PRODUCTION DOWN 171 TBD

NPD - Preliminary production figures for September 2017 show an average daily production of 1 772 000 barrels of oil, NGL and condensate, which is a decrease of 171 000 barrels per day compared to August.

CHINA'S OIL PRODUCTION DOWN BY 10%
October, 20, 12:05:00

ЦЕНА URALS: $ $55,55881

Средняя цена на нефть Urals за период мониторинга с 15 сентября по 14 октября 2017 года составила $55,55881 за баррель, или $405,6 за тонну.

CHINA'S OIL PRODUCTION DOWN BY 10%
October, 18, 19:10:00

OIL PRICE: ABOVE $58

Brent crude futures, the international benchmark for oil prices, were at $58.16 at 0643 GMT, up 28 cents, or 0.5 percent from their last close - and almost a third above mid-year levels. U.S. West Texas Intermediate (WTI) crude futures were at $52.03 per barrel, up 15 cents, or 0.3 percent, and almost a quarter above mid-June levels.

CHINA'S OIL PRODUCTION DOWN BY 10%
October, 18, 19:05:00

РОССИЯ: БОЛЬШЕ НЕФТИ И ГАЗА

Александр Новак отметил рост основных показателей всех отраслей энергетики в прошлом году: «Мы имеем рекордные показатели за прошлый год по добыче нефти, угля. Идёт рост добычи и экспорту газа, в том числе в Европу на уровне 15 процентов. По углю мы наблюдаем рост добычи даже больше уровня прошлого рекордного года. Также отмечается рост производства электроэнергии на 2%, что говорит об оживлении экономики».

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