The Central Government of the People's Republic of China (PRC), as part of the country's 13th Five-Year Plan, has implemented a 50% increase, from $0.87 per thousand cubic feet (Mcf) to $1.31/Mcf, in the level of cash subsidy to be paid per Mcf paid for coalbed methane (CBM) produced, according to Green Dragon Gas Ltd., one of the largest independent companies involved in the production and sale of CBM gas in China.
Exploiting its proximity to northern Asia and the collapse of the rouble against the U.S. dollar, Russia has become the fastest growing oil supplier to Asia at a time when Middle East exporters are distracted by internal strife and competition from U.S. shale producers.
Rosneft, Oil India, Indian Oil and Bharat Petroresources signed a Heads of agreement in respect to the acquisition by a group of Indian investors of a 23,9% share in Vankroneft. The document envisages the possible execution of legally binding documents with regard to the sale and purchase transaction.
Rosneft said on Wednesday it had signed a binding agreement to sell a 29.9 per cent interest in its Taas-Yuriakh subsidiary, which operates one of the largest oil and gasfields in eastern Siberia, to a consortium of three Indian companies: Oil India, Indian Oil and Bharat Petroresources.
Рост поставок сырой нефти из России в Китай составил 17,5 % по сравнению с аналогичным периодом 2014 г. Всего в 2015 г. в КНР поставлено 26,68 млн тонн нефти.
Government said on Thursday it hoped to unlock gas and oil resources worth almost $40 billion by simplifying licensing rules and offering price incentives to recover gas from difficult offshore fields.
Gazprom and Bank of China Limited, London Branch entered today in Shanghai into a five-year EUR 2 billion loan facility agreement.
Iran is working to regain market share after sanctions relief and exports had already risen by 500,000 bpd in February, Mohsen Ghamsari, director of international affairs at National Iranian Oil Co (NIOC), told Reuters on Tuesday.
Malaysia’s state-run Petronas plans to reduce capital and operating expenditures by $12 billion over the next 3 years, starting with $3.6-4.8 billion in 2016. The move comes with a companywide reorganization that will result in about 1,000 redundancies.