China ///

What's new in exploration

William (Bill) Head, Contributing Editor

Where are the oil reserves?

G3 Exploration gets approval for development of Chengzhuang Block in China

G3 Exploration Ltd., an independent specialist in the exploration and development of coal bed methane gas (CBM) with roots in China and a focus on international expansion, has announced that the China National Development and Reform Commission (NDRC) has issued its final approval for the Overall Development Plan (ODP) on the Chengzhuang Block (GCZ).

China boosts West African oil imports to offset trade war impact

China is set to boost its crude imports from West Africa to the highest in at least seven years this month as the trade war with the U.S. prompts the Asian nation’s refiners to find alternatives.

Companies in the news

Michele Cowart, World Oil

LLOG Exploration delivered first production from its Crown and Anchor fields in the Gulf of Mexico, during second-quarter 2018.

CNOOC's Penglai project begins production in the Bohai Sea

CNOOC Limited has announced that the Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project has commenced production.

Oil declines as supply fears ease, Trump tweets on Chinese trade

Crude dropped the most in almost a month as global supply concerns receded and a demand-killing trade war intensified.

Rosneft, CNPC agree on wider E&P cooperation

Rosneft and the Chinese National Oil and Gas Corporation (CNPC) signed the Agreement on Cooperation in Exploration and Production in the Russian Federation in the framework of the IV Eastern Economic Forum.

Gazprom Neft, CNPC partner to develop enhanced oil recovery technologies

Gazprom Neft and China National Petroleum Corporation (CNPC) have entered into a technical partnership at the Eastern Economic Forum. The document was signed by Alexander Dyukov, chairman of the Gazprom Neft management board, and Wang Yilin, chairman of CNPC.

PetroChina inks its biggest Qatar LNG deal as U.S. trade at risk

PetroChina signed a deal with Qatargas Operating to purchase 3.4 MM tons of LNG annually, the Chinese company’s biggest supply deal.

Empryean Energy engages third-party independent audit of Block 29/11, China

Empyrean Energy, the oil and gas development company with interests in China, Indonesia and the United States, has announced that it has engaged Gaffney, Cline & Associates (GCA) to complete a third-party independent audit of oil initially in place estimates over the Jade, Topaz and Pearl prospects, in Block 29/11, in the Pearl River Mouth basin, China.

Oil rally doubles PetroChina’s profits

PetroChina is rewarding shareholders with a higher payout after its best half-year profit in more than three years.

ONS: Analysts say China plays key role in MENA oil trade, despite region’s instability

One thing that became clear in one of the Tuesday morning sessions at ONS is that China remains an important oil trading partner and lynchpin of stability for the MENA (Middle East/North Africa) region. In the session entitled, “The Lego Blocks of Energy and Geopolitics,” two analysts explained the relationship of China to the region, and also the stability, or lack thereof, among some key oil producers.

China gets another shot at Mideast energy with Total's Iran exit

Total SA’s withdrawal from Iran’s giant South Pars gas field has given China another chance to secure a stake in the world’s most coveted energy assets: abundant and low-cost Middle Eastern oil and gas.

Wild currency swings make trading Chinese oil futures risky

Wild swings in the yuan and punitive storage costs are making oil traders think twice about a bet on China’s fledgling crude futures that looks highly lucrative on paper.

Aker Solutions to deliver power umbilical systems to China's Liuhua fields

Aker Solutions won orders valued at more than NOK 350 million to deliver power umbilical systems to China National Offshore Oil Corporation's (CNOOC) Liuhua oil fields in the South China Sea, off Hong Kong.

PetroChina is said to mull suspending U.S. LNG purchases

PetroChina Co. may temporarily halt purchases of U.S. liquefied natural gas spot cargoes through the winter to avoid potential tariffs amid a trade conflict between the U.S. and China, according to people with knowledge of the strategy.

U.S.-Iran sanctions give China lead in world's top gas field

China National Petroleum Corp. is expected to take the lead on a $5-billion project to develop Iran’s share of the world’s biggest gas deposit, taking over from France’s Total SA, which halted operations after U.S. President Donald Trump reimposed sanctions on the Islamic Republic.

Companies in the news

Michele Cowart, World Oil

Danos has been awarded a contract by Shell Exploration and Production Company to provide coatings for Shell’s deepwater Appomattox platform in the Gulf of Mexico.

China explorer Cnooc may reward investors, even if oil won't

Chinese offshore oil giant Cnooc Ltd. may have more to offer equity investors betting on the recovery in global crude prices, even if the rally appears to be taking a bit of a breather.

China’s oil futures post mysterious gains

The crude futures that China launched in March seem to be dancing to an oil-market tune only they can hear.