News
January 04, 2021
A decline in the dollar is boosting the appeal of commodities that are priced in the currency, while as investors return to their desks at the start of the year, crude has emerged as a favored trade to hedge against a rise in inflation.
News
January 01, 2021
China’s Ministry of Commerce said the country would take necessary action to protect the rights of Chinese companies, and that it hoped the two countries could work together to create a fair and predictable environment for businesses and investors.
News
January 01, 2021
It’s the first time Baghdad has sought a prepayment deal, in which oil is effectively used as security for a loan. It’s also the latest example of China lending to struggling oil producers via state-controlled trading companies and banks.
News
December 23, 2020
The deal is part of an effort by President Xi Jinping’s government to consolidate the nation’s major pipelines and other midstream facilities into a single firm, intended to boost competition among drillers and downstream oil and gas sellers.
News
December 21, 2020
Weir Oil & Gas Dubai signed a five-year $70 million contract with Thailand's PTT Exploration and Production, a subsidiary of state-owned energy conglomerate PTT, to supply and install 1,800 sets of wellheads and trees in the Gulf of Thailand.
News
December 08, 2020
The deal is the latest example of China, via state-controlled trading companies and banks, lending to struggling oil producers such as Angola, Venezuela and Ecuador, with repayment in the form of oil barrels rather than cash.
News
December 08, 2020
While OPEC’s third-largest producer will still reduce supply to Asia in January, the curbs won’t be as deep as this month in percentage terms.
News
December 07, 2020
If a Biden presidency leads to a resumption in Iranian and Venezuelan oil exports, the new supply will likely cause a further headache for the OPEC+ alliance and would also reshape crude flows to Asia.
News
November 30, 2020
CNOOC’s operations in the South China Sea have run into controversy because China claims drilling rights in waters far from its borders, and within 200 miles of countries like Vietnam and the Philippines.
News
November 26, 2020
The award underscores the important role seismic surveying plays in enabling ADNOC to identify and explore new hydrocarbon resources as highlighted by the recent major discoveries of recoverable unconventional oil resources and conventional oil reserves.
News
November 25, 2020
With the prospect of a coronavirus vaccine improving oil’s longer-term outlook, there’s been a renewed rally in the forward curve. On Wednesday the much-watched spread between Brent’s nearest two December contracts briefly flipped into a bullish backwardation for the first time since March.
News
November 20, 2020
The rise of China’s refining industry, combined with several large new plants in India and the Middle East, is reverberating through the global energy system.
News
November 20, 2020
Iraq awarded a contract to develop the West Qurna oilfield to Exxon and Royal Dutch Shell Plc in 2009. The oilfield is one of the world’s largest with expected recoverable reserves of over 20 billion barrels.
News
November 04, 2020
Philippine Energy Secretary Alfonso Cusi said PXP Energy Corp. can survey Reed Bank in the disputed sea even without partnering with China National Offshore Oil Corp.
News
November 02, 2020
Against a backdrop of sagging demand and signs of growing supply, the world’s biggest oil buyer raised the quota for use of overseas oil by non-state entities next year by more than 20% versus 2020, according to an announcement from the Ministry of Commerce.
News
October 16, 2020
The Philippines lifted its moratorium on oil and gas exploration in disputed areas of the South China Sea, a move that was welcomed by China and boosted the shares of the Southeast Asian nation’s energy producers.
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
January 13, 2020
The world’s biggest oil import market could see demand growth in 2020 of just half of last year’s levels as the trade war’s ripple effects continue to be felt, according to researchers at China National Petroleum Corp.
News
January 09, 2020
China said it will open up oil and gas exploration to private and foreign firms, offering further details of a policy that will help assuage concerns over access to the industry ahead of next week’s signing of an interim trade deal with the U.S.
News
December 19, 2019
One of China’s top liquefied natural gas buyers offered to sell a cargo on the cheap – and in the throes of winter – a fresh sign of the massive oversupply that has weighed on the market.
News
December 17, 2019
China is breaking records for crude oil imports, and isn’t likely to stop soon as new refineries ramp up and hopes grow that the easing of trade tensions with the U.S. will bolster the economy.
