WorldOil Oil pares steep weekly loss as U.S. says it downed Iranian drone Oil snapped four days of losses after the U.S. said it downed an Iranian drone near the Strait of Hormuz, stoking concern crude flows from the Middle East may be disrupted. CNOOC China signs cooperation framework agreement with Sinopec Corp. CNOOC Limited has announced that CNOOC China Limited, its subsidiary, has signed a Cooperation Framework Agreement with China Petroleum and Chemical Corporation (Sinopec Corp.) regarding the sea areas of Bohai, Beibu Gulf and South Yellow Sea, as well as North Jiangsu basin. PetroChina worth less than its energy reserves in the ground PetroChina looks cheap on many levels, perhaps none more so than comparing it to the value of its reserves beneath the Earth’s surface. China raises security warning on vessels plying Malacca Strait China raised the security level for its vessels heading through the Strait of Malacca, a key Asian trade route and major oil choke point. Trade deal could propel U.S. to top of China's LNG supplier list Here’s another reason for Presidents Donald Trump and Xi Jinping to seal a swift trade deal: it could put the U.S. on track to become China’s biggest supplier of liquefied natural gas, according to Morgan Stanley. China’s first LNG bunker vessel to feature integrated Wärtsilä solutions China’s first seagoing LNG bunker vessel will operate with a comprehensive and integrated package of highly efficient and environmentally sustainable solutions from the technology group Wärtsilä. NOVATEK creates JV in China with Sinopec and Gazprombank During the official visit of the President of the People’s Republic of China Xi Jinping to the Russian Federation, PAO NOVATEK, Sinopec and Gazprombank signed Heads of Agreement on establishing a joint venture to market LNG and natural gas to end-customers in the People’s Republic of China. U.S. Trade Representative grants two PESA exclusions to Chinese trade tariffs PESA is pleased to announce two PESA product exclusions that were filed have just been granted by United States Trade Representative (USTR). China's pipeline reform to supercharge gas demand China’s pipeline reform is poised to spur competition in its natural gas industry, lowering prices and supercharging demand. Brent crude gets nudge as market weighs Trump comments, rig data Brent crude rose even as President Donald Trump said the U.S. isn’t ready to make a trade deal with China, casting a shadow on prospects for oil-demand growth.