China

Chinese Oil Production Dives by 8% in 2017

Chinese Oil Production Dives by 8% in 2017

Demand is not dropping, but China’s oil production has been decreasing since November 2015

Chinese oil production so far this year is down 8%, as the world’s fifth largest oil producer continues to be squeezed by lower commodity prices. China …

China Crude Oil Imports Second Highest Ever in February

From Reuters

China’s crude oil imports rose to the second-highest level on record in February, as strong demand from independent “teapot” refiners continues to drive growth.

February’s imports came in at 31.78 million tonnes or 8.286 million barrels per day, …

March 8, 2017 - 4:48 pm China, Closing Bell Story‎, Crude Oil News
China, India will Drive 30% Growth in Energy Consumption through 2035: BP

China, India will Drive 30% Growth in Energy Consumption through 2035: BP

BP says U.S. shale gas output to more than double

In its recently released 2017 Energy Outlook, BP outlines its predictions for global energy production and consumption through 2035.

Global consumption of energy is expected to increase by 30% …

China Sees Falling Crude, Rising Natgas Production through 2020

China Sees Falling Crude, Rising Natgas Production through 2020

The National Development and Reform Commission releases its projections for the remainder of the decade

China expects crude oil production to fall by 7% compared with its previous five-year plan as production from some of the country’s largest, and oldest, …

Liberalizing China: Opens its Job Market to Foreign Applicants – if You Have a Postgraduate Degree

From Asia Times

Students with postgraduate degrees from Chinese or overseas universities now do not need work experience to be allowed to find mainland jobs. Foreign students who have completed their postgraduate degrees in Chinese or overseas institutions are now …

January 16, 2017 - 10:42 am China, Closing Bell Story‎, Energy News
China Lowers Export Quotas 40% for Majors

China Lowers Export Quotas 40% for Majors

Larger quotas expected later in 2017

China will cut its export quotas to the country’s oil majors by 40% in the first round of licenses for 2017, reports Reuters, even as traders expect allowances for overseas sales to meet …

December 29, 2016 - 5:34 pm China, Closing Bell Story‎, Oil and Gas 360 Articles
Coal Demand Shifting to Asia with Big Implications for Markets

Coal Demand Shifting to Asia with Big Implications for Markets

As Europe and America consume less coal, China gains greater influence over coal industry

In its medium-term coal market report for 2016, IEA reports that global coal demand growth has stalled after more than a decade of 4% annual growth, …

Source: Novatek

Russia Signs 23 Energy Agreements with Japan

Russia and Japan ink 23 energy-related agreements including offshore and LNG

Russia and Japan deepened ties between the neighboring countries over the weekend as Russian President Vladimir Putin visited Japanese Prime Minister Shinzo Abe in Japan.

The talks were set …

Sinopec Sells $3.3 Billion Stake in Natural Gas Pipelines

From Bloomberg News

China Life, SDIC buying 50% of Sichuan-to-East China pipelines -Sinopec approved sale of natural gas pipeline unit in August

China Petroleum & Chemical Corp. is selling a 50 percent stake in a pipeline unit to investors including …

December 13, 2016 - 8:46 am China, Closing Bell Story‎, Energy News
(FILES) This file photo dated 08 September, 2004 shows a PetroChina gas station attendant in Beijing returning the nozzle at the pumps.  Fidelity Investments, the world's largest mutual fund firm, has sold the bulk of its American Depositary Receipts (ADR) in PetroChina amid pressure from United States activists upset over its parent's interests in Sudan, reports said 17 May 2007.  AFP PHOTO / FILES / Frederic J. BROWN

Is China’s Energy Sector Becoming a Dinosaur?

“We are a big elephant already. If we don’t reform ourselves faster, we will become a dinosaur” – Fu Chengyu, former Chairman of Sinopec and CNOOC

China’s oil and gas industry is at risk of falling behind the times, according …

December 1, 2016 - 4:47 pm China, Closing Bell Story‎, Oil and Gas 360 Articles

China’s Diversifying Economy: Country Targets Growth of Sports from 2015’s $62 Billion to $800 Billion in 2025

From the Asia Times

‘LeSports Connects’ signals sports is an industry whose center of gravity is moving east to China

If you were in any doubt as to China’s intention to own world football, you probably just haven’t been …

November 23, 2016 - 7:54 am China, Closing Bell Story‎, Energy News
Chinese Oil Production Down 11% – Daily Production Hits 7-Year Low

Chinese Oil Production Down 11% – Daily Production Hits 7-Year Low

Uncertainty over oil prices is hurting Chinese oil production

Daily oil production in China – the world’s second-largest crude consumer after the United States – fell to a seven-year low in October, according to data from the country’s statistics bureau. …

Genoil Signs Letter of Intent for $50 Billion of Work in Russia and Chechnya

Genoil Signs Letter of Intent for $50 Billion of Work in Russia and Chechnya

Chinese banks will finance the 3.5 MMBOPD project with heavy oil upgraders

Calgary-based Genoil Inc. (ticker: GNOLF), provider of upgrading technology for petroleum processing, has signed a letter of intent (LOI) for $50 billion worth of projects in Russia and …

(FILES) This file photo dated 08 September, 2004 shows a PetroChina gas station attendant in Beijing returning the nozzle at the pumps.  Fidelity Investments, the world's largest mutual fund firm, has sold the bulk of its American Depositary Receipts (ADR) in PetroChina amid pressure from United States activists upset over its parent's interests in Sudan, reports said 17 May 2007.  AFP PHOTO / FILES / Frederic J. BROWN

PetroChina Income Down 94%, But the Company May Be Looking to Expand Internationally

Low oil prices continue to hurt Chinese oil major PetroChina

China’s largest crude oil and natural gas producer, PetroChina (ticker: PTR), released its third-quarter results today, reporting substantially lower income amid the global crude oil glut. Net income during the …

October 28, 2016 - 4:39 pm China, Closing Bell Story‎, Earnings, Oil and Gas 360 Articles
China Reports 6.7% Growth for the Third Straight Quarter

China Reports 6.7% Growth for the Third Straight Quarter

China’s GDP growth ‘suggests quite significant smoothing of the data’: analysts

China’s gross domestic product continued to grow at a steady rate of 6.7% for the third straight quarter. Government infrastructure projects and a booming property market spurred prices and …

October 19, 2016 - 4:49 pm China, Closing Bell Story‎, Oil and Gas 360 Articles
Will Rising Gas Exports and Coal Prices Make Australia an LNG Importer?

Will Rising Gas Exports and Coal Prices Make Australia an LNG Importer?

Gas Demand Growing as Coal Prices and Exports Heat Up

Henry Hub aside, the real hot commodity this summer has been coal, as spot prices for Australian thermal reached $100 per ton (ASD) in September for the first time since …

Oil Prices Hold Steady, Despite 4.9 MMBO Inventory Build

Oil Prices Hold Steady, Despite 4.9 MMBO Inventory Build

Crude oil inventory build offset by refined product draw, supporting prices above $50 per barrel

Both Brent and WTI crude prices are up after falling earlier in the day on expectations of a 3 MMBO crude oil build. The build …

TPP’s Fate Awaits U.S. Congress but No Vote in 2016

From Stratfor

Summary

Nearly eight months after the Trans-Pacific Partnership (TPP) was signed, its fate is still up in the air. While giving a speech in Havana on Sept. 26, Japanese Prime Minister Shinzo Abe reiterated his commitment to ratify …

September 28, 2016 - 11:50 am China, Closing Bell Story‎, Energy News, International
Comparing Carbon Dioxide Emitting Countries

Comparing Carbon Dioxide Emitting Countries

China Leads the Planet in CO2 Emissions, but Persian Gulf States Lead on Per Capita Basis

According to the World Bank’s current data, China was the leading emitter of carbon dioxide in 2011, outstripping the CO2 emitted by …

(FILES) This file photo dated 08 September, 2004 shows a PetroChina gas station attendant in Beijing returning the nozzle at the pumps.  Fidelity Investments, the world's largest mutual fund firm, has sold the bulk of its American Depositary Receipts (ADR) in PetroChina amid pressure from United States activists upset over its parent's interests in Sudan, reports said 17 May 2007.  AFP PHOTO / FILES / Frederic J. BROWN

China’s Crude Oil Output Hits Six-Year Low

China’s crude oil imports at a four-month high as the country halts high-cost production

Crude oil production from the world’s largest energy consumer hit a six-year low in August, according to information released by the National Bureau of Statistics Tuesday. …

September 13, 2016 - 5:24 pm China, Closing Bell Story‎, Oil and Gas 360 Articles

China’s Natural Gas Gamble Won’t Replicate U.S. Shale Success

From Epoch Times

China Petroleum & Chemical Corp. announced plans to sell half of its stake in a major trans-China natural-gas pipeline, in a bid to raise capital and fund exploration as part of China’s ambitious goal to wean itself …

August 9, 2016 - 10:30 am China, Closing Bell Story‎, Energy News, LNG

China to Get Ethiopia’s NatGas via $4 Billion LNG Project in Djibouti

From Geeskaafrika.com

Ethiopia says physical work on a massive $4 billion cooperative natural gas project between Ethiopia, Djibouti, and China will soon be launched.

The announcement was made Thursday by Ethiopian Foreign Minister Tedros Adhanom at the opening of the …

July 25, 2016 - 8:53 am China, Closing Bell Story‎, Energy News, LNG
China’s Oil Output Falls by the Most in 15 Years

China’s Oil Output Falls by the Most in 15 Years

Oil output down more than 7%; Coal down more than 15%

The glut of oil brought on by OPEC’s decision to defend market share continues to put pressure on producers around the globe, particularly in China.

China’s largest oil and …

Subsidy Fraud in China’s Robotics Industry Hides Manufacturers’ Struggle to Innovate

From Manufacturing.com

China is making moves to modernize its manufacturing industry, but in incentivising local manufacturers with generous subsidies, corrupt businessmen are coming out of the woodwork for easy cash-grabs.

Earlier this year, China released its “Made in China 2025” …

June 2, 2016 - 10:21 am China, Closing Bell Story‎, Energy News
China: Yuan Down, Yuan to Go

China: Yuan Down, Yuan to Go

Despite the Memorial Day weekend and the shortened week for U.S. business, the week has been eventful nonetheless. With anticipation mounting for the June 2nd OPEC meeting, the increased potential for a U.S. interest rate hike being signaled by the …