LONDON – China has ramped up purchases into its oil reserves this year even as oil prices soared, despite calls from Washington for a global coordinated stocks release to help cool the market, industry data showed and traders said.…
(Bloomberg) –APA Corp. and its Chinese partner in an Egyptian oil project will recover almost $900 million in prior investments under a new drilling contract with the North African nation. APA was the day’s best performer in the …
SINGAPORE/NEW YORK, Oct 15 – Major Chinese energy companies are in advanced talks with U.S. exporters to secure long-term liquefied natural gas (LNG)supplies, as soaring gas prices and domestic power shortages heighten concerns about the country’s fuel security, several …
BEIJING/SINGAPORE – China’s Sinopec Corp plans to spend 30 billion yuan ($4.6 billion) on hydrogen energy by 2025 as the state oil and gas major pivots to producing natural gas and hydrogen as part of becoming a carbon-neutral energy …
CHICAGO/BEIJING – China has bought “roughly 200 million gallons” of U.S. ethanol for the first half of 2021, matching its previous record for annual imports of the corn-based biofuel, Archer Daniels Midland Co Chief Financial Officer Ray Young said …
SINGAPORE – Chinese oil majors will struggle to extend fast growth in shale gas production beyond 2025, as complex geology and failure to draw in more investors make it expensive to develop the unconventional resource.
That would be a …
SINGAPORE – Sinopec Corp pledged on Tuesday to maximise domestic gas productions and raise imports of liquefied natural gas (LNG) to record rates as a cold spell hitting large parts of the country this week lifts demand for the …
MOSCOW – China’s refiners have purchased a quarter of Russia’s Urals oil exports planned for June in the Baltic despite record high premiums for the grade due to a lack of sour barrels as result of the OPEC+ output …
Earnings from China’s oil firms are going to “look pretty ugly” in the short-term, one Bernstein analyst told CNBC on Monday.
“We’re expecting very significant losses in the first quarter for PetroChina and Sinopec as a result of the …
SINGAPORE – China’s Sinopec, expected to be the next major Chinese buyer of U.S. liquefied natural gas (LNG), is planning to review terms of a potential $16 billion supply deal with Cheniere Energy after a sharp drop in LNG …
SINGAPORE – China has raised the volumes of its first batch of 2020 fuel export quotas by 53% from a year earlier to 27.99 million tonnes, according to a document from the Ministry of Commerce that was reviewed by …
From Reuters
China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including …
Royal Dutch Shell has entered China’s shale oil sector, signing an agreement with state-owned Sinopec to study an East China block, part of the nation’s early efforts to unlock the potentially massive unconventional resource.
China is already in …
Sinopec’s Net Profit Up Over 20% to RMB 61.6 Billion in 2018
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China Petroleum and Chemical Corp plans to sign a 20-year liquefied natural gas (LNG) supply agreement with Cheniere Energy once China and the United States end their trade dispute, two sources with knowledge of the matter said on …
From Reuters
Sinopec Oilfield Service Corp plans to cut 4,000 jobs this year due to structural overstaffing, having let go 2,000 employees in the first half, company spokesman Li Honghai said on Wednesday.
The planned lay-offs account for just under …
From Reuters
WASHINGTON (Reuters) – Alaska Gasline Development Corp (AGDC) is preparing an equity offering for this summer and is open to partnering with a major energy firm on the development of …
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 …
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), …
During a visit to China, Iraqi Prime Minister Haider al-Abadi signed a memorandum …
As China looks for way to meet more of its natural gas demand domestically, it has looked to improving the economics of its own shale gas development. While China is one of four countries currently producing commercial volumes of shale …
The Chinese government announced yesterday that it will open six oil and gas blocks for private companies to explore in the Xinjiang region in northwest China. China’s Ministry of Land and Resources said …
China is considering mergers of its state-run oil companies in order to create national champions that could compete with the likes of ExxonMobil (ticker: XOM) and …
China’s Ministry of Finance today announced that it will be raising the threshold for windfall taxes on oil and gas output starting January 1. The new threshold will be set at $65 a barrel, up $10 from $55 a barrel, …
Apache Corporation (ticker: APA) is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom, Australia and Argentina. It is one of the world’s top independent E&P companies and recently celebrated …
