China

China Keeps LNG Off Tariff List for Now, Could be Trade Weapon Later

China Keeps LNG Off Tariff List for Now, Could be Trade Weapon Later

From Reuters

China’s omission of liquefied natural gas (LNG) from its vast list of U.S. products that face hefty import duties from Friday has preserved a potential weapon should the trade war with Washington deepen.

It also underscores Beijing’s desire …

LNG Ltd. Gets Tied Up in Trump Trade Dispute

LNG Ltd. Gets Tied Up in Trump Trade Dispute

From Bloomberg

The Trump administration’s trade dispute with China is delaying one U.S. company’s bid to sign long-term natural gas export deals.

While liquefied natural gas is excluded from the trade tariffs imposed in recent weeks, buyers are waiting to …

China Becomes World’s Biggest Natural Gas Importer

China Becomes World’s Biggest Natural Gas Importer

But when Power of Siberia pipeline begins, LNG imports may take a back seat to Russian pipeline gas 

From Maritime Executive

China has outpaced Japan to become the world’s largest importer of natural gas, a welcome sign for the developers …

June 25, 2018 - 4:03 pm China, Closing Bell Story‎, LNG, Natural Gas News
China Leaves U.S. LNG Off Import Tariff Retaliation Hit List—For Now

China Leaves U.S. LNG Off Import Tariff Retaliation Hit List—For Now

From Financial Times

Chinese LNG demand is soaring — so much so that Beijing spared the product from tariff rises

When China last week set out a list of US exports threatened with retaliatory tariffs, almost all fossil fuels were …

June 21, 2018 - 6:52 pm China, Closing Bell Story‎, Energy News, LNG
Source: Gassco Karsto Pipes

U.S. Oil Pipeline Companies Seek Tariff Exemptions

From Reuters

Major U.S. energy companies including Plains All American Pipeline (PAA.N), Hess Corp (HES.N) and Kinder Morgan Inc (KMI.N) are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, …

President Trump Announces $50 Billion Tariffs on Chinese Imports

President Trump Announces $50 Billion Tariffs on Chinese Imports

From Reuters

U.S. President Donald Trump announced hefty tariffs on $50 billion of Chinese imports on Friday as Beijing threatened to respond in kind, in a move that looks set to ignite a trade war between the world’s two largest …

June 15, 2018 - 1:27 pm China, Closing Bell Story‎, Energy News, International
25% of World’s New Vehicle Market Requires 10% EVs by 2019

25% of World’s New Vehicle Market Requires 10% EVs by 2019

China’s New Energy Vehicle (NEV) mandate came into effect in April – GM expects to have 10 plug-in models for Chinese market in the next 18 months

By Energy Fuse

China’s ambitious national New Energy Vehicle (NEV) mandate is contributing …

June 5, 2018 - 11:35 am China, Closing Bell Story‎, Transportation
LNG, Crude Oil, LPG May Win Big from a US-China Trade Truce

LNG, Crude Oil, LPG May Win Big from a US-China Trade Truce

From Bloomberg/Business Times

Singapore – Commodities were a big casualty of the escalating trade war between the US and China, but are now set to be a major beneficiary of Beijing’s pledge to import more American goods.

US President Donald …

ConocoPhillips Produces 1,224 MBOEPD, Nets $0.9 Billion

ConocoPhillips Produces 1,224 MBOEPD, Nets $0.9 Billion

ConocoPhillips Company (ticker: COP) reported first quarter 2018 earnings of $0.9 billion, or $0.75 per share. This compares to first quarter 2017 earnings of $0.6 billion, or $0.47 per share.

First quarter production, excluding Libya, was 1,224 MBOEPD. Production from …

Valhall Drilling Platform, Norway

Philippines Eyes Joint Exploration Deal with China in South China Sea

From Reuters

The Philippines is looking to seal a pact with China within a few months to jointly explore for oil and gas in a part of the busy South China Sea waterway claimed by both countries, a Philippine official …

China Jumps to Number Two Importer of U.S. Crude Oil

China Jumps to Number Two Importer of U.S. Crude Oil

China adds oil growth to its number two rank in global LNG imports

BY Maritime Executive 

U.S. crude oil exports in 2017 were nearly double those of 2016, and China accounted for 202,000 b/d (20 percent) of the 527,000 …

Cheniere's Corpus Christie Plant

More U.S. Gas Earmarked for China: Cheniere, CNPC Go Long-Term

Cheniere Energy, Inc. (ticker: LNG) has entered into two LNG sale and purchase agreements (SPA) with China National Petroleum Corporation (CNPC).

Under the SPAs with Cheniere’s subsidiaries, Corpus Christi Liquefaction, LLC and Cheniere Marketing International LLP, CNPC subsidiary PetroChina International …

February 9, 2018 - 2:51 pm China, Closing Bell Story‎, LNG, Oil and Gas 360 Articles
CNOOC 2018: 470 MMBOE Target, $11 Billion CapEx

CNOOC 2018: 470 MMBOE Target, $11 Billion CapEx

CNOOC Limited (ticker: CEO) plans to target 470-480 MMBOE for its net production goal in 2018. The geographic production areas are split between China (64%) and overseas (36%). The company’s net production for 2017 stood at approximately 469 MMBOE. As …

China Becomes World’s Largest Crude Importer

China Becomes World’s Largest Crude Importer

China imported 8.4 MMBOPD

China took the crown as the world’s largest crude oil importer in 2017, according to a note released by the EIA today.

China imported an average of 8.4 MMBOPD in 2017, compared with 7.9 MMBOPD for …

Curacao Cancels $10 Billion Deal with China Firm

Curacao Cancels $10 Billion Deal with China Firm

From Reuters

The government of Curacao has scrapped a preliminary agreement with China’s Guangdong Zhenrong Energy (GZE) to operate the island’s aging Isla refinery, saying the company misrepresented itself and was unable to take on such a large endeavor.

GZE …

January 3, 2018 - 8:56 am China, Closing Bell Story‎, Energy News, International
Iraq Oil Minister Expects Balance in Q1; Touts Per-Barrel Fee Contract Model with China’s Zhenhua Oil

Iraq Oil Minister Expects Balance in Q1; Touts Per-Barrel Fee Contract Model with China’s Zhenhua Oil

Iraq’s $3.50 per barrel fee paid to Chinese producing partner Zhenhua will serve as its new contract model with international companies: Ameedi

From The Nation

BAGHDAD – Iraqi Oil Minister Jabar al-Luaibi said on Monday he was optimistic there would …

December 27, 2017 - 8:54 am China, Closing Bell Story‎, Energy News
China and OPEC Getting Cozy Fast

China and OPEC Getting Cozy Fast

A turning point in relations

OPEC announced today that its second high level meeting with China produced good will all around and it listed agreements between the countries as to the development of oil resources and sharing technologies to do …

December 20, 2017 - 12:51 pm China, Closing Bell Story‎, Oil and Gas 360 Articles, OPEC
Asian Infrastructure Investment Bank Will Loan Beijing Gas Group Co. $250 Million to Connect Rural China to Natural Gas Network, to Replace Coal

Asian Infrastructure Investment Bank Will Loan Beijing Gas Group Co. $250 Million to Connect Rural China to Natural Gas Network, to Replace Coal

Pipelines, meters, household connections to be completed by 2021; project will cut China coal demand by 650,000 tons annually

The Asian Infrastructure Investment Bank’s (AIIB) approved a US$250 million loan for a project that will connect about 216,750 households in …

December 12, 2017 - 12:31 pm China, Closing Bell Story‎, Oil and Gas 360 Articles
China’s Crying Need for NatGas—a Discovery in Bohai’s Shallow Water, LNG Demand Booming

China’s Crying Need for NatGas—a Discovery in Bohai’s Shallow Water, LNG Demand Booming

China on a tear to expand domestic gas output and diversify its natural gas imports

China’s quest for natural gas

“China supports domestic enterprises to increase natural gas output and at the same time to diversify imports of the resource,” …

China’s Sinopec Sues Venezuela Over Unpaid Bills: Crisis Tests Ally’s Patience

China’s Sinopec Sues Venezuela Over Unpaid Bills: Crisis Tests Ally’s Patience

China has been one of Venezuela’s biggest creditors, providing loans, cash and investment totaling more than $65 billion

From AP/US News

CARACAS, Venezuela (AP) — One of China’s biggest state-run conglomerates has sued a Venezuelan counterpart in a U.S. court …

December 7, 2017 - 2:28 pm China, Closing Bell Story‎, Energy News
Chinese Demand is Shrinking Global LNG Glut

Chinese Demand is Shrinking Global LNG Glut

$240 billion in Australian LNG projects

The LNG glut that has plagued the industry in recent years may clear more quickly than anticipated, based on recent estimates.

Numerous massive LNG projects have come online recently, from several countries. Chief among …

INEOS Will Provide U.S. Ethane to China

INEOS Will Provide U.S. Ethane to China

INEOS and China’s SP Chemicals sign long term supply agreement for U.S. ethane

Agreement includes construction of the largest ethane carrier ship ever built

The deal will involve the construction of a 95,000cbm capacity ship which is expected to …

November 22, 2017 - 1:13 pm China, Closing Bell Story‎, LNG, Oil and Gas 360 Articles
Source: Gazprom. LNG Tanker

China Has Boosted Both Imports and Production of Natural Gas

Imports and output of natural gas rose more than twice the expected amount this year in China

Imports and domestic output of natural gas are outpacing government projections in China as the country works toward a goal of making the …

We want Private Companies to Operate Oil & Gas Storage Here: China

We want Private Companies to Operate Oil & Gas Storage Here: China

Chinese authorities announce plans to further reform the country’s oil and gas sector; call for increased imports of low-priced U.S. natural gas

China has said it will allow private companies to invest in the country’s oil and gas storage sector, …

Creole Spirt, Teekay Tanker Suezmax Tanker, Source: Teekay

Deal Paves Way for Mega-sized U.S. Energy Exports

China world’s largest energy consumer

A new deal between China and the U.S. has thrown open a door for U.S. LNG producers to export the country’s vast energy supplies to China. It’s the first step for the U.S. to become …

PetroChina Production Down 5.3% in 2016, Further Drops Expected

PetroChina Production Down 5.3% in 2016, Further Drops Expected

Decreasing production creates demand for foreign crude

PetroChina reported fourth quarter results on Thursday, showing net earnings of ¥7.9 billion ($1.15 billion), or ¥0.04 per share. While not a loss, this is the lowest profit in the company’s history, according …

CNOOC Predicts 5% Production Decline in 2017

CNOOC Predicts 5% Production Decline in 2017

2017 CapEx between ¥60 billion and ¥70 billion

China National Offshore Oil Corporation (CNOOC) reported annual results on March 23, reporting net earnings of ¥637 million ($92.6 million). Total oil and gas revenue for 2016 was ¥121 billion, down 17% …

The Earth’s Billionaires Could Populate Mayberry: the Forbes 2017 List is Out

The Earth’s Billionaires Could Populate Mayberry: the Forbes 2017 List is Out

Forbes tallies 2,043 individual billionaires 

Times have changed.  Four decades ago, before smart phones, before Apple computers, the Internet, VHS tapes and drink holders in cars, Fortune published a story called “The Last Billionaires.” Fortune’s list of living billionaires in …

Beijing Shuts Last Coal Power Plant, Goes 100% Gas-Fired Electricity

From Japan Times

Smog troubles persist

BEIJING – The last large coal-fired power plant in Beijing has suspended operations, with the city’s electricity now generated by natural gas, the state news agency reported as smog enveloped the Chinese capital this …

March 20, 2017 - 6:15 pm China, Closing Bell Story‎, Energy News
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 …