News
September 25, 2020
The U.S. oil major’s assets in Malaysia include a 30% stake in the offshore Tapis Blend operations, which produce a low-sulfur crude that was once a benchmark for Asian oil refiners. The production sharing contracts cover 2.4 million acres offshore and have exploration and production terms ranging up to 38 years, Exxon said in a filing in 2019.
News
August 25, 2020
China will likely pull back on spot purchases of liquefied natural gas before the peak demand season as a flurry of earlier bargain buying nearly maxed out storage space.
News
August 21, 2020
Chinese crude buyers have chartered about 19 tankers for September to send roughly 37 million barrels of oil to China, according to provisional tanker fixtures. If these proceed as planned, the exports would surpass a record set in May at 35.2 million barrels, according to U.S. Census data compiled by Bloomberg.
News
August 19, 2020
"Promoting the application and development of renewable hydrogen is of great significance for China to build a modern and cleaner energy system,” said Christian Bruch, CEO of Siemens Energy. “Together with our partner SPIC, we are making an important contribution to tackling climate change and reducing carbon emissions.”
News
August 18, 2020
As much as 14 million barrels -- or seven super-class tankers full -- of U.S. oil will be loaded next month for delivery to China, according to estimates by Vortexa Ltd. based on provisional tanker bookings. If all those shipments make the trip that will be more than double the volumes set for August.
News
July 21, 2020
The idea behind the technology was to create a shallow water pipelay that did not require welding
pipeline connections or the need for divers, along with the ability to reduce the cost and time on
projects.
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 02, 2020
Siemens Gas and Power was awarded a contract to supply three SGT-300 industrial gas turbine generators (GTG), three mechanical-drive SGT-300 gas turbines and three DATUM centrifugal compressors for the PETRONAS Kasawari Gas Field Development Project in the South China Sea, offshore Sarawak in Malaysia.
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.
