News
December 07, 2020
If a Biden presidency leads to a resumption in Iranian and Venezuelan oil exports, the new supply will likely cause a further headache for the OPEC+ alliance and would also reshape crude flows to Asia.
News
November 30, 2020
CNOOC’s operations in the South China Sea have run into controversy because China claims drilling rights in waters far from its borders, and within 200 miles of countries like Vietnam and the Philippines.
News
November 26, 2020
The award underscores the important role seismic surveying plays in enabling ADNOC to identify and explore new hydrocarbon resources as highlighted by the recent major discoveries of recoverable unconventional oil resources and conventional oil reserves.
News
November 25, 2020
With the prospect of a coronavirus vaccine improving oil’s longer-term outlook, there’s been a renewed rally in the forward curve. On Wednesday the much-watched spread between Brent’s nearest two December contracts briefly flipped into a bullish backwardation for the first time since March.
News
November 01, 2020
Aspen Technology announced that Hengli Petrochemical Refinery, a leading Fortune Global 500 refinery in China, has chosen Aspen DMC3TM software to accelerate digitalization at its integrated refining and chemical plant in Dalian, China.
News
November 20, 2020
The rise of China’s refining industry, combined with several large new plants in India and the Middle East, is reverberating through the global energy system.
News
November 20, 2020
Iraq awarded a contract to develop the West Qurna oilfield to Exxon and Royal Dutch Shell Plc in 2009. The oilfield is one of the world’s largest with expected recoverable reserves of over 20 billion barrels.
News
November 04, 2020
Philippine Energy Secretary Alfonso Cusi said PXP Energy Corp. can survey Reed Bank in the disputed sea even without partnering with China National Offshore Oil Corp.
News
November 02, 2020
Against a backdrop of sagging demand and signs of growing supply, the world’s biggest oil buyer raised the quota for use of overseas oil by non-state entities next year by more than 20% versus 2020, according to an announcement from the Ministry of Commerce.
News
October 16, 2020
The Philippines lifted its moratorium on oil and gas exploration in disputed areas of the South China Sea, a move that was welcomed by China and boosted the shares of the Southeast Asian nation’s energy producers.
News
September 25, 2020
The U.S. oil major’s assets in Malaysia include a 30% stake in the offshore Tapis Blend operations, which produce a low-sulfur crude that was once a benchmark for Asian oil refiners. The production sharing contracts cover 2.4 million acres offshore and have exploration and production terms ranging up to 38 years, Exxon said in a filing in 2019.
Article
September 2020
Most regions will see significant reductions in activity, although the Middle East and China seem to be faring better.
News
August 25, 2020
China will likely pull back on spot purchases of liquefied natural gas before the peak demand season as a flurry of earlier bargain buying nearly maxed out storage space.
News
August 21, 2020
Chinese crude buyers have chartered about 19 tankers for September to send roughly 37 million barrels of oil to China, according to provisional tanker fixtures. If these proceed as planned, the exports would surpass a record set in May at 35.2 million barrels, according to U.S. Census data compiled by Bloomberg.
News
August 19, 2020
"Promoting the application and development of renewable hydrogen is of great significance for China to build a modern and cleaner energy system,” said Christian Bruch, CEO of Siemens Energy. “Together with our partner SPIC, we are making an important contribution to tackling climate change and reducing carbon emissions.”
News
August 18, 2020
As much as 14 million barrels -- or seven super-class tankers full -- of U.S. oil will be loaded next month for delivery to China, according to estimates by Vortexa Ltd. based on provisional tanker bookings. If all those shipments make the trip that will be more than double the volumes set for August.
News
July 21, 2020
The idea behind the technology was to create a shallow water pipelay that did not require welding
pipeline connections or the need for divers, along with the ability to reduce the cost and time on
projects.
News
June 29, 2020
CNOOC Limited has made a significant discovery of Huizhou 26-6 in Eastern South China Sea. It is expected to become the first mid-to-large sized condensate oil and gas field in the shallow water area of Pearl River Mouth Basin.
News
June 26, 2020
A second wave of Covid-19 infections in China’s capital is threatening to depress the nation’s appetite for American oil just after a pick-up in purchases.
News
June 22, 2020
Refiners in the top crude-importing region have been forced to accept big reductions in their regular contracted volumes from producers including Saudi Arabia and Iraq in the past couple of months. They’ve also been taken aback by sharp swings in official selling prices.
News
June 17, 2020
Officially, China hasn’t imported any Venezuelan crude since September after Washington sanctioned state entities including PDVSA. Information from data intelligence firm Kpler, however, signals the Asian nation is still buying, with as much as 3.3 MMbbl waiting off the Chinese coast as of June 15 and another 5 MMbbl en route to the port of Qingdao.
