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 …
At Today’s Lower Prices China is Adding 70-90 MMBoe to SPR with Strategic Crude Oil Purchases
Simultaneously to the Peoples Bank of China intentionally depreciating the Yuan last week, China’s National Energy Administration announced on May 31, 2016 that the …
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 …
For the second time this year, Russia supplied more crude oil to China than Saudi Arabia. Crude imports from Russia increased 53.4% year-over-year in April to reach 1.17 …
Demand for crude oil at Chinese refineries continues to grow as the country’s aging oil properties slow production. Chinese production fell the most month-over-month since November 2011 in …
Crude oil inventories fell today, giving markets a pleasant surprise, and sending WTI prices up above $46 per barrel.
Economist expected a small build for the week ended May 6, …
China’s largest oil and gas producer, China National Petroleum Corp. (CNPC), reported its full-year 2015 profit, showing a 52% decline year-over-year. The company reported $12.7 billion in total profit for the …
China National Petroleum Corp. Deputy Chief Executive Wang Zhongcai said the company is interested in purchasing a stake in Rosneft, Russia’s state-owned oil company. The sale …
China Petrochemical Corp., or Sinopec Group as it is commonly referred to, is selling more than half of a unit which holds its overseas assets to two state investment …
Chinese Premier Li Keqiang outlined the country’s economic goal to maintain growth of at least 6.5% through 2020 at the annual Boao Forum for …
Many international oil and gas companies have responded to the steep drop in prices since November 2014 by cutting expenditures. Companies have achieved better financial metrics by increasing efficiencies in …
Monthly oil imports to China in February were 20% higher in 2016 than the year before. The increased level of imports in February were the highest ever on a daily …
Russia and India strengthened their ties over the weekend with several agreements which will increase Russia’s share in India’s energy markets and give India a greater share in a number of …
Bank of China has agreed to loan Russian state-owned gas giant Gazprom (ticker: OGZPY) €2 billion ($2.17 billion). In the company’s press release, Gazprom said the loan was the largest deal in terms …
Natural gas prices are down more than 4% today at $1.67 per MMBtu, the lowest they have been since 1999. Waning demand for natural gas in Japan, warmer weather expectations in the U.S., along with an expected surge in LNG …
Petrobras (ticker: PBR, Petrobras.com) will receive a $10 billion loan from the China Development Bank to help pay down the company’s debt coming due this year, according to a …
China National Petroleum Corp., the country’s largest oil and gas producer, is looking to spin off its oilfield service sector as part of the ongoing process to overhaul the world’s …
As the oil price slump continues amid OPEC’s battle to maintain market share, the group’s goal of eliminating high-cost production appears to be working, but perhaps not where OPEC had originally hoped.
Sinopec (ticker: SNP), …
China’s net fuel product exports fell 76% in January from the final month of 2015 to 350,000 metric tons, the lowest level since June, according to Bloomberg. China’s net exports reached the …
China is making a push to open its markets to competition and increase its crude oil refining capacity by allowing smaller “teapot” refiners to handle 1.5 MMBOBP of …
Lower oil and gas prices are forcing at least one of China’s producers to lower its production goal for 2016. In a press release Tuesday, China …
Russia-based Novatek’s (ticker: NVTK) Yamal LNG project has received a new infusion of capital from a new Chinese investment firm called China Insurance Investment Ltd. The firm is comprised of 46 …
During a visit to China, Iraqi Prime Minister Haider al-Abadi signed a memorandum …
The International Monetary Fund (IMF) announced Monday that the international lender will include the Chinese renminbi, or yuan, in its basket of currencies that …
The global coal trade declined for the first time in 21 years in 2014, and likely contracted further this year as well, according to information from the Energy Information Administration (EIA). The …
China’s National Development and Reform Commission (NDRC), the country’s top economic planner, announced this week that it plans to reduce the benchmark city-gate prices for natural gas by 0.7 yuan ($0.11) per …
China’s economy has been a demand-growth powerhouse over the course of the last decade as the country’s industrial sector boomed, but China’s role in global …
Russia and Japan are becoming increasingly close energy partners, a trend that Igor Sechin, CEO of Rosneft (ticker: RNFTF) believes will continue into the future. Sechin said today that Russia’s oil exports to …
Since the turn of the century, China has increasingly come to the forefront of the world’s political and economic stages. The country’s demand growth for hydrocarbon fuels has made it particularly interesting to the oil …
British oil giant BP (ticker: BP) announced today that the company signed a number of deals with China National Petroleum Corporation (CNPC) during Chinese President Xi Jinping’s state visit …
