China
News
June 29, 2020
CNOOC Limited has made a significant discovery of Huizhou 26-6 in Eastern South China Sea. It is expected to become the first mid-to-large sized condensate oil and gas field in the shallow water area of Pearl River Mouth Basin.
News
June 26, 2020
A second wave of Covid-19 infections in China’s capital is threatening to depress the nation’s appetite for American oil just after a pick-up in purchases.
News
June 22, 2020
Refiners in the top crude-importing region have been forced to accept big reductions in their regular contracted volumes from producers including Saudi Arabia and Iraq in the past couple of months. They’ve also been taken aback by sharp swings in official selling prices.
News
June 17, 2020
Officially, China hasn’t imported any Venezuelan crude since September after Washington sanctioned state entities including PDVSA. Information from data intelligence firm Kpler, however, signals the Asian nation is still buying, with as much as 3.3 MMbbl waiting off the Chinese coast as of June 15 and another 5 MMbbl en route to the port of Qingdao.
News
June 08, 2020
Record figures underline how complete the demand recovery has been in the world’s largest oil importer, even as other countries struggle with the economic impact of lockdowns. It also suggests that China has been taking advantage of the collapse in prices to fill its strategic reserves on the cheap.
News
June 01, 2020
Queues of tankers have formed off China’s busiest oil ports as the vessels wait to offload crude for refineries that are quickly ramping up production amid a rapid rebound in fuel demand.
News
May 29, 2020
Our look ahead the coming week, including how drillers' ability to react to an increase in oil and gas demand could be impacted by technical and manpower limitations, and what key OPEC players have in store for the first week of June.
News
May 29, 2020
An early look at Saudi Arabia’s crude exports for May shows that historic production cuts have done little to squelch the kingdom’s flood of oil to China, which is just getting back on its feet from the coronavirus.
News
May 29, 2020
While futures in New York edged lower to trade near $33 a barrel, crude is still set for the biggest monthly gain in data going back almost four decades.
News
May 22, 2020
Key trends for the coming week, including how industry groups' response to low oil prices differ dramatically in the U.S. versus other producing nations, China's big plans for its economy, and investment analysts turning their backs on key sectors of the industry.
News
May 22, 2020
Oil retreated from the highest level in more than two months with doubts emerging over the strength of China’s economic recovery and as tensions rose between Washington and Beijing.
News
May 20, 2020
The policy-setting National People’s Congress beginning in Beijing on Friday is arguably the pivotal stage of a recovery that has seen China’s raw materials output and energy consumption rebound from a virus-induced crash to pre-pandemic levels.
News
May 19, 2020
Demand is recovering in major oil consumers China and India, led by a rebound in gasoline and diesel consumption. Chinese refiners are seeing profits from turning crude into fuels, even as processors across much of the region including Singapore face negative margins.
News
May 18, 2020
Oil reaches its highest price since March, which could lead to a new production imbalance in U.S. shale, and Oxy is left holding the bag on a major asset sale.
News
May 18, 2020
Oil rose to close at its highest in two months as demand in China returned to near pre-virus level and output curbs continued in the U.S. and elsewhere.
News
May 14, 2020
Crude processing at China’s independent refineries is now higher than pre-virus levels, while fuel demand is also starting to rebound in India.
News
May 13, 2020
One of China’s biggest natural gas distributors flagged the possibility of sub-zero market prices at its shareholder meeting, a scenario that would echo oil’s record plunge last month that stunned global markets.
News
May 11, 2020
Inventories drawing in China is an early sign that rebalancing may have begun in the global oil market after an epic collapse in demand, according to Morgan Stanley. Stockpiles dwindled even as oil imports in April increased from the previous month, according to Customs data.
News
April 30, 2020
Despite marching orders from China’s top leader Xi Jinping to maximize oil and gas production, the energy sector is bending to the reality of the pandemic-fueled market collapse.
News
April 29, 2020
Petrobras, Brazil’s state-controlled oil giant, is plowing through a global oil glut expecting that exports to China will soon rebound, and with extensive storage capacity helping it endure in the meantime.
News
April 14, 2020
A researcher at China’s biggest oil company said the country’s drillers should copy the hedging strategies of Mexico and shale firms in the U.S., which use financial derivatives to protect against falling oil prices.
