China to see record oil demand in 2017

Chinese oil demand is forecast to reach record levels this year. The state-owned China National Petroleum Corporation (CNPC) predict the nation’s requirements will grow 3.4% to reach almost 12 million barrels a day. Combined with surging automotive sales and efforts to fill Strategic Petroleum Reserves with 90 days of forward cover, this has led refineries to ramp up production despite […]

BP signs second shale gas deal with Chinese firm

BP has signed a second agreement for shale gas exploration, development and production with a Chinese company. The production sharing contract (PSC) with China National Petroleum Corporation (CNPC) covers an area of around 1,000 square kilometres at Rong Chang Bei in the Sichuan Basin. The two companies signed the first PSC in March this year. […]

BP and Chinese firm sign deal on shale gas

Energy giant BP has signed a deal on shale gas production with a Chinese company. The “sharing contract” with China National Petroleum Corporation (CNPC) is for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan Basin. It was signed by BP’s CEO Bob Dudley and CNPC’s Chairman Wang Yilin. CNPC will be the […]

Russia and China sign gas pipeline deal

Russia’s Gazprom has signed a gas pipeline agreement with Chinese state-owned company CNPC. It includes the design and construction of the cross-border section of the ‘Power of Siberia’ pipeline, including its submerged crossing under the Amur River. “The document was signed within the Sales and Purchase Agreement for the Russian gas supply to China via […]

Gazprom and China sign MoU for gas pipeline

Gazprom has signed a Memorandum of Understanding (MoU) for a pipeline project to export gas to China. The document agreed with China National Petroleum Corporation (CNPC) allows the development of the project, which aims to export gas to the Asian country from Russia’s Far East. In a statement, the Russian gas giant said the deal reflects […]

Brazil confirms successful bids for oil exploration rights

A handful of the world’s largest oil firms have won the rights to explore the biggest oil field in Brazil. The group made up of Anglo-Dutch oil firm Shell, Brazil’s state-run Petrobras, France’s Total and China’s CNOOC and CNPC made the only bid in the auction at the Rio de Janeiro hotel. The hotel was […]

China starts importing gas from Myanmar

China switched on a new 793km-long pipeline to bring in natural gas from Myanmar yesterday, reports claim. The pipeline starts at Kyaukpyu on Myanmar’s western coast and connects China’s Yunnan province in the southwest and is expected to transfer 12 billion cubic metres of natural gas every year. A parallel 771-km pipeline that will carry […]

US and China sign shale oil deal

A US energy company has signed a co-operation agreement with a Chinese firm to develop a shale oil block in China. China is believed to hold the world’s largest recoverable shale gas resources and aims to replicate the production boom seen in the US, however, it is still in the early stages of exploration for […]

Russia and China gas deal nears

Russia and China, two of the world’s biggest powers are planning to sign a gas supply deal, Russian state gas firm Gazprom said yesterday. The two countries have been grappling over a deal for the past six years. Gazprom and CNPC agreed to step up negotiations on supply through the eastern route and they set […]

China and Shell to share shale gas

Oil giant Shell and China’s semi-state oil firm CNPC will share their Chinese shale gas activity including exploration and production after a deal announced yesterday. Shell said it will be the first shale gas Production Sharing Contract (PSC) ever signed in China. Covering the Fushun-Yongchuan block in the Sichuan Basin, the contract area is roughly […]