BP Plans to Exit China's Shale Gas
European oil major BP plans to exit from two production sharing contracts (PSC) for projects drilling for shale gas in the southwestern Chinese province of Sichuan, three sources with the knowledge of the matter said this week.BP is the last of the international oil majors, including Royal Dutch Shell, Exxon Mobil, ConocoPhillips and ENI, to quit exploring for shale gas in China because of poor drilling results.
PetroChina Boosts European LNG Activity with Yamal Cargoes
China's top oil and gas company PetroChina is selling spot liquefied natural gas (LNG) cargoes on the European market from Russia's Yamal plant, adding to a flood of volumes to the continent amid subdued Asian demand, trade sources said.PetroChina's increased presence in Europe is an example of how Asian energy companies are expanding their role as LNG traders…
PetroChina Strikes Large Flows in Tarim Exploration Well
PetroChina Co Ltd struck sizeable oil and gas flows in an exploration well in the Tarim basin of the remote northwestern region of Xinjiang, marking a breakthrough in exploring an earlier untapped region, parent CNPC said on Thursday.Zhongqiu-1 well tested a daily natural gas flow of 330,000 cubic metres and 21.4 cubic metres of condensate, a super light crude oil, CNPC said on its news portal news.cnpc.com.cn.T
Changing Shale Field to Boost Gas Output
China's Changning shale gas field in southwestern Sichuan province will more than double its output during the winter heating season after putting new wells into operation, China's top oil and gas group CNPC said on Wednesday.Daily output at the field, which began operating in 2015, is expected to reach 12 million cubic metres during the heating season from mid-November through mid-March, CNPC said on its websit
Sinochem raises 2019 term oil supply from Saudi Aramco, Kuwait
China's Sinochem Group agreed to annual crude oil supply deals for 2019 with Saudi Aramco and Kuwait Petroleum Corp (KPC) with volumes from both suppliers more than 20 percent higher than in 2018, a senior Sinochem executive said on Friday.The Saudi volumes will be processed at Sinochem's wholly-owned Quanzhou refinery in southeast China's Fujian province…
Singapore Petroleum Builds New Oil Storage, Distribution Center
Singapore Petroleum Company, a subsidiary of PetroChina International, said in a statement on Friday it completed a new oil products storage and distribution terminal on Jurong Island, an artificial island off Singapore's southwest coast.The terminal "will allow us to develop our marketing network and to serve the growing needs of our customers in Singapore," Xia Hongwei, managing director of PetroChina Internat
China's Top Gas Field to Produce Record Amount of Gas This Year
China's Changqing oil and gas field, operated by state energy giant PetroChina, is expected to produce record amount of natural gas this year exceeding 38 billion cubic meters (bcm), as more wells were brought online, its parent company CNPC said on Monday,Changqing, in northern China, the largest gas producer in the country, has nearly 11,000 wells in production by late September, after over 100 new wells start
Build It and They Will Buy: The New World of LNG Canada
The first major liquefied natural gas (LNG) project to be approved globally in five years will be built in Canada, but its underlying philosophy appears to be more closely allied to the Australian concept of "she'll be right, mate."The LNG Canada project was given the green light on Tuesday by Royal Dutch Shell, which is leading the $31 billion venture along with partners Petronas…
Mitsubishi Signs on $31 Bln LNG Canada Project
Japanese trading house Mitsubishi Corp said on Tuesday it will join in developing the LNG Canada project in British Columbia led by Royal Dutch Shell, which has taken a final investment decision to go ahead with the development.The C$40 billion ($31 billion) project, on the west coast of Canada, will consist of two liquefied natural gas (LNG) production facilities, known as trains, that are expected to export ab
Qatargas, PetroChina Sign 22-Years LNG Supply Deal
Qatargas, the world’s largest LNG producer, has announced a long-term Sale and Purchase Agreement (SPA) with PetroChina International Company Limited, a unit of PetroChina Company Limited (PetroChina), to supply China with around 3.4 million tonnes of liquefied natural gas (LNG) per annum.Under the 22-year SPA, which ends in 2040…
Unipec Suspends US Oil Imports as Trade Spat Intensifies
China's Unipec, the trading arm of state oil major Sinopec, has suspended crude oil imports from the United States due to a growing trade spat between Washington and Beijing, three sources familiar with the situation said on Friday.The sources declined to be identified as they are not authorised to speak to the media.It is not clear how long the temporary halt will last…
Supertanker Hauling Saudi Crude U-turns After Recent Attack
A supertanker carrying Saudi Arabian crude has turned around near the Bab El-Mandeb strait, days after the world's top exporter said it was suspending all oil shipments through the strait following an attack by Yemen's Iran-aligned Houthi movement on two other ships.The Khuzama, a Very Large Crude Carrier (VLCC) transporting about 2 million barrels of oil, has made a U-turn and is now sailing east - ClipperData
Ice-Breaking LNG Carrier Vladimir Rusanov First Call at PetroChina LNG Jiangsu Terminal
Mitsui O.S.K. Lines (MOL) announced that the Ice-Breaking LNG Carrier "Vladimir Rusanov", which is jointly owned by MOL and China COSCO Shipping Corporation Limited for the Yamal LNG project, made its first call at PetroChina LNG Jiangsu Terminal in China on 17 July.A ceremony celebrating this milestone was held on 19 July.At the end of March 2018…
US Oil Exports to India Soar Ahead of Iran Sanctions
U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration.U.S. President Donald Trump's administration has been pressuring its allies to cut imports of Iranian goods to zero by November and India's shift advances the U.S.
PetroChina Ships first Gasoline Cargo to Canada
PetroChina has shipped its first gasoline to Canada on June 20, the company's official newspaper said on Thursday. Sinopec's Tianjin refinery also shipped diesel to Australia for the first time on Tuesday.
Nine People Injured in China Gas Pipeline Blast
A gas pipeline exploded late on Sunday in China's southwestern province of Guizhou, seriously injuring nine people, official news agency Xinhua reported on Monday.The blast occurred on a pipeline owned by PetroChina at Jiangbaying, near Shazi in Guizhou province, Xinhua said. No deaths had been reported.The route is a domestic extension of a Myanmar-China gas pipeline.After the explosion at 11.20 pm (1620 GMT)…
PetroChina to Add 690 Wells at Liaohe Field
Top Chinese oil and gas firm PetroChina is adding new production wells at one of its main oilfields, in northeast China, aiming to build 1.06 million tonnes of new annual capacity this year, parent company CNPC said on Friday.PetroChina plans to drill a total of 690 new wells this year at the Liaohe field in Liaoning province, part of the state oil major's campaign to sustain production at mature fields, which a
Petronas Buys Stake in Canadian LNG Export Project
Malaysia's state-owned oil and gas company Petroliam Nasional Bhd said on Thursday it is buying a 25 percent stake in a Canadian liquefied natural gas (LNG) export project, nearly a year after cancelling its own planned terminal.The company, known as Petronas, scrapped plans to build a $36 billion ($28 billion) LNG export terminal…
LNG Prices Firm on Chinese, South Korean Demand
Spot price highest in more than 3 months. Asian spot liquefied natural gas (LNG) prices breached the $9 per million British thermal unit (mmBtu) mark this week, a three-year summer season high driven by crude oil gains, production outages and demand from key Asian consumers. Spot prices for July <LNG-AS> delivery in Asia were at $9.20 per mmBtu this week…
Firms Complain of Contaminated Crude Lifted From U.S. SPR
Three firms that bought crude oil last year from U.S. emergency stockpiles raised concerns about dangerous levels of a poisonous chemical in the cargoes, according to internal Energy Department emails and shipping documents reviewed by Reuters. Problems with crude quality would make the U.S. Strategic Petroleum Reserve (SPR) less useful…
