Production records bolster energy security
3 months, 2 weeks ago

Production records bolster energy security

China Daily  

An aerial view of a CNOOC drilling platform in Bohai Bay. China's efforts to bolster energy security took a significant leap forward as its two largest oilfields achieved historic production milestones, underscoring the nation's commitment to enhancing domestic energy supplies amid global uncertainties. China National Offshore Oil Corp said last Tuesday that Bohai oilfield, the largest offshore oilfield in China, has surpassed daily crude oil production of 100,000 metric tons for the first time since its establishment in 1965 — a cornerstone of China's offshore oil industry. Energy supply in China remained ample and stable throughout last year, with crude oil production remaining steadfast at 200 million tons, marking a sixth consecutive year of growth. According to the institute, oil demand in China is expected to continue rising this year amid economic recovery, while natural gas has been emerging as a pivotal energy source to support domestic energy transition.

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History of this topic

Energy self-sufficiency rate reaches 85%
1 week ago

Energy self-sufficiency rate reaches 85%

China Daily  

A worker fuels up a car at a gas station in Qingzhou, Shandong province, in December. WANG JILIN/FOR CHINA DAILY Oil and gas have reinforced supply security throughout this year as China navigates the path between energy transition and its carbon neutrality goals, said industry experts and company executives. Wu said China's oil and gas sectors remain indispensable to its …

China’s surplus crude oil eased in October, but this is still bearish: Russell
1 month ago

China’s surplus crude oil eased in October, but this is still bearish: Russell

Live Mint  

By Clyde Russell SYDNEY, Nov 18 - China's crude oil surplus nearly halved in October, but this was a further sign of weakness as both imports and refinery runs dipped. But there is also a structural shift underway in China's crude oil demand, with the rapid uptake of what Beijing terms new energy vehicles, which include full electric vehicles and …

China's weak oil demand may lead to global surplus of 1 mn barrels: How would crude prices react?
1 month, 1 week ago

China's weak oil demand may lead to global surplus of 1 mn barrels: How would crude prices react?

Firstpost  

The surplus could provide a buffer for prices against potential supply-side price shocks from conflicts in West Asia and other regions Low oil demand from China, supply-side shocks due to the conflict in West Asia, and increase in oil production by countries like US and Brazil are all important factors in determining crude oil price. The IEA forecasts that global …

China's Geological Exploration Sees Explosive Growth
2 months, 1 week ago

China's Geological Exploration Sees Explosive Growth

China Daily  

China's investment in geological exploration has grown for three consecutive years, with a total of 124 new mineral deposits discovered in 2023. Significant breakthroughs were achieved in oil and gas exploration in large oil and gas basins, while progress was also made in the exploration of non-oil and gas minerals such as coal, copper, gold, lithium, and phosphorus.

China's first self-developed ultra-deep-water gas field goes on stream
2 months, 3 weeks ago

China's first self-developed ultra-deep-water gas field goes on stream

China Daily  

This undated photo shows the comprehensive processing platform of phase II project of China's self-developed ultra-deepwater gas field Shenhai-1, or Deep Sea No 1, located 150 km from the city of Sanya in South China's island province of Hainan. The second phase of Shenhai-1, China's first self-developed ultra-deep-water gas field, commenced production on Friday, said its operator CNOOC Limited. Located …

China's first self-developed ultra-deep-water gas field goes on stream
2 months, 3 weeks ago

China's first self-developed ultra-deep-water gas field goes on stream

China Daily  

This undated photo shows the comprehensive processing platform of phase II project of China's self-developed ultra-deepwater gas field Shenhai-1, or Deep Sea No 1, located 150 km from the city of Sanya in South China's island province of Hainan. The second phase of Shenhai-1, China's first self-developed ultra-deep-water gas field, commenced production on Friday, said its operator CNOOC Limited. Located …

Production records bolster energy security
3 months, 2 weeks ago

Production records bolster energy security

China Daily  

By ZHENG XIN | China Daily | Updated: 2024-09-10 09:37 An aerial view of a CNOOC drilling platform in Bohai Bay. China's efforts to bolster energy security took a significant leap forward as its two largest oilfields achieved historic production milestones, underscoring the nation's commitment to enhancing domestic energy supplies amid global uncertainties. China National Offshore Oil Corp said last …

China's largest oil field achieves historic milestone
3 months, 3 weeks ago

China's largest oil field achieves historic milestone

China Daily  

Changqing oilfield, China's largest oil-and-gas field, achieved a historic milestone recently by producing a cumulative total of 1 billion metric tons of oil and gas equivalent, according to PetroChina Changqing Oilfield Company. Last year, it became the first oilfield in China to pass the 60-million-ton mark in annual oil and gas output, a landmark in China's energy history. Situated in …

China Energy powers efforts to increase green transition, reduce fossil fuels
4 months, 3 weeks ago

China Energy powers efforts to increase green transition, reduce fossil fuels

China Daily  

China Energy Investment Corp — the world's largest power producer and the top wind power developer in terms of installed capacity — continued to accelerate its green energy transition during the first half this year while ensuring domestic energy security, helping to diversify the nation's energy mix and reducing dependence on fossil fuels. The company's power generation installed capacity reached …

China Energy powers efforts to increase green transition, reduce fossil fuels
4 months, 3 weeks ago

China Energy powers efforts to increase green transition, reduce fossil fuels

China Daily  

China Energy Investment Corp — the world's largest power producer and the top wind power developer in terms of installed capacity — continued to accelerate its green energy transition during the first half this year while ensuring domestic energy security, helping to diversify the nation's energy mix and reducing dependence on fossil fuels. The company's power generation installed capacity reached …

Offshore oil, gas output set to rise
4 months, 4 weeks ago

Offshore oil, gas output set to rise

China Daily  

CNOOC booth at an expo held in Shanghai on June 9, 2021. The production of offshore oil and gas in China is expected to increase this year, as the country's top offshore oil and gas driller China National Offshore Oil Corp has discovered a high-yield well in the Beibu Gulf that produces over 1,000 cubic meters of oil equivalent daily, …

China to consume up to 7.7% more natural gas in 2024: report
5 months ago

China to consume up to 7.7% more natural gas in 2024: report

China Daily  

Xinhua | Updated: 2024-07-24 11:02 Technicians check pipelines at a gas station in Chuzhou, Anhui province. BEIJING - China's natural-gas consumption is expected to rise by 6.5 to 7.7 percent year-on-year in 2024, a report issued by National Energy Administration showed Tuesday. The report predicted that the global supply of natural gas will remain relatively sufficient in the second half …

China to consume up to 7.7% more natural gas in 2024: report
5 months ago

China to consume up to 7.7% more natural gas in 2024: report

China Daily  

Technicians check pipelines at a gas station in Chuzhou, Anhui province. BEIJING - China's natural-gas consumption is expected to rise by 6.5 to 7.7 percent year-on-year in 2024, a report issued by National Energy Administration showed Tuesday. The report predicted that the global supply of natural gas will remain relatively sufficient in the second half of the year, while also …

China annual oil refinery output falls for first time in 20 months amid maintenance
7 months, 1 week ago

China annual oil refinery output falls for first time in 20 months amid maintenance

Hindustan Times  

By Chen Aizhu China annual oil refinery output falls for first time in 20 months amid maintenance May 17 - China's refinery output fell 3.3% in April from a year earlier, the first annual decline in 20 months, as large refiners carried out regular maintenance and small independent plants curbed production due to thin profit margins. State-run refineries such as …

China oil company sees strong production and profits this quarter
7 months, 4 weeks ago

China oil company sees strong production and profits this quarter

China Daily  

CNOOC booth at an expo held in Shanghai on June 9, 2021. The company recorded a total net production of 180.1 million barrels of oil equivalent, representing an increase of 9.9 percent year-on-year during the first three months. The net production from China grew by 6.9 percent year-on-year to 123.2 million barrels of oil equivalent, which was mainly attributable to …

Investment grows in search for mineral resources
9 months, 2 weeks ago

Investment grows in search for mineral resources

China Daily  

Oil derricks operate at Daqing Oilfield Co. China has stepped up investment in mineral resources exploration to bolster reserves and production, according to a bulletin released recently by the Ministry of Natural Resources. Newly confirmed reserves of petroleum exceeded 1.2 billion metric tons for a fourth consecutive year last year, while newly discovered reserves of natural gas, shale gas and …

Investment grows in search for mineral resources
9 months, 2 weeks ago

Investment grows in search for mineral resources

China Daily  

Oil derricks operate at Daqing Oilfield Co. China has stepped up investment in mineral resources exploration to bolster reserves and production, according to a bulletin released recently by the Ministry of Natural Resources. Newly confirmed reserves of petroleum exceeded 1.2 billion metric tons for a fourth consecutive year last year, while newly discovered reserves of natural gas, shale gas and …

Domestic oil, gas production hits record in 2023
11 months, 2 weeks ago

Domestic oil, gas production hits record in 2023

China Daily  

An employee of China National Offshore Oil Corp operates at an offshore drilling platform in the Bohai Sea in November. Oil and gas production reached a record high in China last year, as domestic companies stepped up upstream exploitation and exploration of the fossil fuels to ensure energy security, the National Energy Administration said. Domestic oil and gas production equivalent …

Domestic oil, gas production hits record in 2023
11 months, 2 weeks ago

Domestic oil, gas production hits record in 2023

China Daily  

An employee of China National Offshore Oil Corp operates at an offshore drilling platform in the Bohai Sea in November. Oil and gas production reached a record high in China last year, as domestic companies stepped up upstream exploitation and exploration of the fossil fuels to ensure energy security, the National Energy Administration said. Domestic oil and gas production equivalent …

Iron man's spirit lives on at oilfield
1 year, 2 months ago

Iron man's spirit lives on at oilfield

China Daily  

A photovoltaic plant at the Daqing oilfield provides solar power for the site. WANG JIANWEI/XINHUA Zhu Guowen, executive director of Daqing Oilfield Co, said, "This was a significant milestone in China's industrial history and the nation's efforts to ensure energy security," adding that to date, the nation's largest onshore oilfield has paid more than 3 trillion yuan in taxes and …

China is drilling new 10,000m deep hole into Earth to search for gas reserves
1 year, 5 months ago

China is drilling new 10,000m deep hole into Earth to search for gas reserves

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China is drilling a new …

每日一词∣长庆油田 Changqing oilfield
1 year, 11 months ago

每日一词∣长庆油田 Changqing oilfield

China Daily  

截至2022年12月31日，我国最大油气田——中国石油长庆油田全年生产油气当量突破6500万吨，创造了国内油气田年产油气最高纪录。 Changqing oilfield, China's largest oil-and-gas field, produced over 65 million tonnes of oil equivalent of crude oil and natural gas in 2022, setting a new record for output in China's domestic oil and gas fields. Coal will be used in a cleaner and more efficient way, and greater efforts will be made to explore and develop petroleum and natural …

每日一词∣长庆油田 Changqing oilfield
1 year, 11 months ago

每日一词∣长庆油田 Changqing oilfield

China Daily  

截至2022年12月31日，我国最大油气田——中国石油长庆油田全年生产油气当量突破6500万吨，创造了国内油气田年产油气最高纪录。 Changqing oilfield, China's largest oil-and-gas field, produced over 65 million tonnes of oil equivalent of crude oil and natural gas in 2022, setting a new record for output in China's domestic oil and gas fields. Coal will be used in a cleaner and more efficient way, and greater efforts will be made to explore and develop petroleum and natural …

China’s worst heat wave on record is crippling power supplies. How it reacts will impact us all
2 years, 3 months ago

China’s worst heat wave on record is crippling power supplies. How it reacts will impact us all

CNN  

Editor’s Note: A version of this story appeared in CNN’s Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. “And perhaps we all need to reconsider whether these extreme events will become the new normal.” Experts say the Sichuan power crunch is an example that China’s …

Construction begins on massive offshore gas field
2 years, 8 months ago

Construction begins on massive offshore gas field

China Daily  

Construction of the largest offshore natural gas field in the Bohai Bay area started on Saturday. The Bozhong 19-6 Condensate Gas Field is expected to generate more than 100 billion cubic meters of gas, enough to supply a city of 1 million people for up to 100 years. The field, discovered in 2019, has a proven natural gas reserve of …

Putin hails China oil and gas deals amid tensions with Europe
2 years, 10 months ago

Putin hails China oil and gas deals amid tensions with Europe

Al Jazeera  

Russia agrees deal to supply gas to China via a new pipeline as tensions simmer with European customers over Ukraine. President Vladimir Putin has unveiled new Russian oil and gas deals with China worth an estimated $117.5bn, promising to ramp up Russia’s Far East exports at a time of heightened tension with European customers over the Ukraine crisis. “And a …

Sinopec ramps up country's gas production
3 years ago

Sinopec ramps up country's gas production

China Daily  

A Sinopec employee inspects gas facilities in Ordos, Inner Mongolia autonomous region, in October. China Petrochemical Corp said it has been increasing the nation's natural gas supplies with daily production exceeding 100 million cubic meters, a mark it first hit on Nov 26, up 7.6 percent over the same day the previous year. The company has produced 30.7 billion cubic …

China sells oil reserves to lower prices in unprecedented move
3 years, 3 months ago

China sells oil reserves to lower prices in unprecedented move

Al Jazeera  

China made an unprecedented intervention in global oil markets on Thursday, selling reserves in a bid to lower prices as energy costs surge in the country. China made an unprecedented intervention in the global oil market, releasing crude from its strategic reserve for the first time with the explicit aim of lowering prices. In a late statement on Thursday, the …

China drives global oil demand growth during pandemic
4 years ago

China drives global oil demand growth during pandemic

China Daily  

The Zhongke Refinery and Petrochemical Project Co Ltd in Zhanjiang, Guangdong province. NEW YORK -- China, with its rising refining industry, has driven global oil demand as the COVID-19 pandemic slashed it, and is emerging in the global refining industry shift, according to the International Energy Agency. Bloomberg quoted the agency as saying that as the demand for plastics and …

CNOOC revs up oil production platform
4 years, 3 months ago

CNOOC revs up oil production platform

China Daily  

China's first integrated offshore viscous oil thermal production and development demonstration platform gets mechanical completion inspection on July 28, 2020. China's first integrated offshore viscous oil thermal production and development demonstration platform was put into operation on Tuesday, according to its operator, China National Offshore Oil Corporation. To make better use of the resources will guarantee the country's energy security …

China is storing an epic amount of oil at sea. Here’s why
4 years, 5 months ago

China is storing an epic amount of oil at sea. Here’s why

CNN  

New York CNN Business — China bought so much foreign oil at dirt-cheap prices this spring that a massive traffic jam of tankers has formed at sea waiting to offload crude. As of June 29, China – the world’s second-largest consumer of oil after the United States – had amassed 73 million barrels of oil on 59 different ships floating …

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