China – Page 45 – Oil & Gas 360

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

November 23, 2016

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 paying attention. But the desire for sporting might of the world’s rising superpower does not stop there, as the program of a three-day event being

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

November 14, 2016

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. Chinese oil production is falling as the country’s national oil producers remain cautious about raising production in the face of

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

November 11, 2016

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 Chechnya. The engineering company said it will develop oil fields and construct clean technology upgraders, refineries and pipelines in Russia

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

October 28, 2016

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 first nine months of the year fell 94% to 1.73 billion yuan ($255.2 million), the company said in its press

China Reports 6.7% Growth for the Third Straight Quarter

October 19, 2016

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 demand for raw materials and goods, from cement and steel to furniture, reports Reuters. The third straight quarter of identical

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

October 19, 2016

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 April, 2012. The country is the world’s second largest exporter of coal, behind Indonesia. This price spike has been spurred

Oil Prices Hold Steady, Despite 4.9 MMBO Inventory Build

October 13, 2016

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 exceeded expectations, with the U.S. adding 4.9 MMBO to its inventory according to the EIA, but prices recovered following the

China May Be Storing More than 150% More Oil than Official Estimates

September 30, 2016

New third-party estimates put Chinese strategic oil reserves at 600 MMBO, 366 MMBO more than official reports The actual amount of crude oil stored in China may be significantly higher than official reports indicate, according to geospatial analytics company Orbital Insights. Using satellite imaging, the company estimates oil storage in China, the world’s largest energy consumer, was at 600 MMBO

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

September 28, 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 the agreement before the end of the year. On the same day, Japan’s legislature convened for a 66-day special session to discuss, among other

Comparing Carbon Dioxide Emitting Countries

September 14, 2016

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 the U.S., India, and Russia combined. This should come as no surprise, as a country’s carbon emissions generally have a positive relationship

China’s Crude Oil Output Hits Six-Year Low

September 13, 2016

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. Production in China fell 9.9% from a year ago to about 3.9 MMBOPD, the lowest since December 2009, according to

BP Deepens Shale Ties with China

September 1, 2016

BP signs second shale gas production sharing contract with China National Petroleum Corporation International oil major BP (ticker: BP) said Thursday that the company has signed its second shale gas production sharing contract with China National Petroleum Corp (CNPC). The contract with the state-owned company covers an area of about 1,000 square kilometers at Rong Chang Bei in the Sichuan

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