Industry News

 

 

2006

 

  • December

US panel to review CNOOC-Iran gas field development deal - US lawmaker (Dec 31 2006) AFX International Focus      A US congressional committee will review a gasfield development deal between China National Offshore Oil Corp (CNOOC) and Iran to determine if US sanctions are called for against the Chinese company, a US lawmaker said.

China & Egypt to Build First Oil Drill in Egypt (Dec 29 2006) SinoCast China Business Daily News       Sichuan Honghua Petroleum Equipment Co., Ltd in China signed a contract with three Egyptian companies about setting up a joint venture in Cairo to manufacture oil drills on December 26.

China starts shipping oil via Mekong river (Dec 28 2006)      Two ships each carrying 150 tons of refined oil have arrived in southwest China's Yunnan Province from neighbouring Thailand via the Mekong River, marking the trial launch of China's oil shipping programme with its Southeast Asian partners.

China to use foreign reserves to buy strategic resources like oil and minerals (Dec 27 2006) The Associated Press     China will take advantage of its massive foreign exchange reserves to expand its stock of strategic resources such as oil and minerals, state media reported Wednesday, citing a top economic official.

Kazakhstan and China reroute oil and gas exports from Central Asia (Dec 26 2006) WPS Russian Media Monitoring Agency             President Nursultan Nazarbayev of Kazakhstan has visited. Construction of oil and gas pipelines from Kazakhstan to China was discussed at the talks which became another powerful blow to Russia, ...

China makes energy efficiency evaluation compulsory threshold for investments (Dec 25 2006) Xinhua News Agency          The documents for any investment project reported to the competent authorities for approval or check will be required to be attached with an analysis on energy efficiency of the project.

Chinese Premier calls for expanding China-Kazakhstan cooperation (Dec 22 2006) China Daily     China and Kazakhstan should use their complementary economies to encourage bilateral cooperation, Chinese Premier Wen Jiabao said in Beijing on December 21.

China's energy investment plans in Iran (Dec 21 2006) Reuters News       China's state-run oil trio have all entered Iran with massive oil and gas deals totalling more than $100 billion, with third-largest firm CNOOC the latest to clinch a gas pact with National Iranian Oil Company (NIOC).

US welcomes China's stance on oil stocks management (Dec 20 2006) Platts Oilgram News              A commitment by China to limit use of its nascent strategic oil stockpile to mitigating supply interruptions, and not for combating high prices, represents an encouraging development for world markets, a US Department of Energy official said December 19.

Biofuels Eating Into Food Grain Stocks (Dec 19 2006) ISI Emerging Markets Africawire    China's biofuel industry is booming thanks to voracious demand for energy to power the country's high-flying economy.

China to focus on energy conservation in structural adjustment in 2007 (Dec 18 2006) Xinhua News Agency     China will focus on energy conservation and consumption reduction to promote adjustment of economic structure, change of growth mode and improvement of quality and efficiency in its economic work in 2007...

China initiates new study on national energy strategy (Dec 18 2006) Xinhua News Agency      China is organizing related experts to make a new round of study on the national energy strategy.

China establishes national industrial association for oil circulation (Dec 17 2006) Xinhua News Agency      Upon the wholly opening of China's oil market, China established on Sunday an industrial association for oil circulation.

China looks to develop more domestic energy sources - official says (Dec 16 2006) AFX International Focus      China will look to develop domestic sources of energy in the years ahead, with conservation at the heart of the energy agenda, said Ma Kai, chairman of the National Development and Reform Commission.

African oil's allure increases as other regions tighten reins on foreign companies (Dec 15 2006) The Associated Press      Angola is joining OPEC, African oil exploration is booming and China is investing. The stampede for African oil has continued, even as militant attacks in some countries and precarious governments in others make returns uncertain. 

China exports face growing barriers in new energy, chemical rules - report (Dec 14 2006) Xinhua News Agency     China exports are expected to encounter growing obstacles among major trading partners following new rules on energy use and chemical content in those markets, the China Daily reported.

China Ready As Oilsands Developer, But Not Operator (Dec 13 2006) The Daily Oil Bulletin      China is ready to provide its engineering, equipment manufacturing and oil processing expertise to Canada's oilsands, but not to operate its own project, a conference heard this week.

Overseas investment: Hunt for resources in the developing world (Dec 12 2006) Financial Times     The “unipolar world”, in which the US was perceived as the only superpower after the end of the Cold war, did not last long – if it ever existed at all.

Our best interests must be paramount when acquisitors come to call (Dec 11 2006) Vancouver Sun  It was almost a parenthetical thought in Finance Minister Jim Flaherty's economic agenda unveiled recently, but the idea that the federal government would even consider moves to block takeovers of Canadian companies by foreign state-owned enterprises must have caused a frisson of terror in its most ardent supporters.

Kazakhstan Overtakes Russia in Oil Supplies to China (Dec 11 2006) NOVECON: Russia/CIS Energy Digest      Russia may lose the chance of becoming a leader in oil supplies to Asian countries, according to Christopher van Agg, a spokesman for the International Energy Agency for Asia.

Japan, China Law, Tech Experts To Hold Oil,Gas Devt Talks (Dec 10 2006) Dow Jones Asian Equities Report      Japan and China Saturday agreed to hold talks between law, technology and security experts from both countries on the development of oil and gas reserves in a disputed area in the East China Sea, an official from Japan's Ministry of Foreign Affairs said Monday.

China to launch one-million-kilowatt nuclear plant project (Dec 09 2006) Xinhua News Agency     China is likely to launch a nuclear power project with one-million-kilowatt capacity in the eastern province of Zhejiang, an official with the China National Nuclear Corporation (CNNC) said.

Russia says slow oil flows threaten Asia pipeline (Dec 08 2006) Reuters News     Slow growth in oil production in East Siberia is undermining Russia's planned pipeline to China and the Pacific, Russia's Deputy Natural Resources Minister Anatoly Tyomkin said on Friday.

China to let foreign firms tap oil sector (Dec 07 2006) The Wall Street Journal Asia      China issued new regulations that will open up the strategically important domestic-energy sector to foreign companies, but the country's oil giants are likely to continue to enjoy the backing of the state.

China's crude, wholesale oil market rules (Dec 06 2006) Reuters News      China on Wednesday published new rules governing the domestic crude oil market and wholesale and retail fuel markets.

China Sees Ethanol, Not Methanol, As Oil Option (Dec 05 2006) Dow Jones Energy Service       China is expanding the use of ethanol as an alternative fuel to oil, but is unsure about methanol as the coal-based fuel is toxic and causes pollution, said a member of China's top bioenergy policy-making panel.

US and China are set to clash over ever dwindling energy reserves (Dec 04 2006) Birmingham Post    As the world's top two oil guzzlers, the United States and China should have lots in common when it comes to energy policy.

As China's reservoirs dip, oil demand rise unlikely (Dec 03 2006) Reuters News      China's seasonal hydropower output has been falling since August as dry weather shrinks reservoirs, but two years of rapidly rising coal- and gas-fired power generation should prevent another surge in oil demand.

A cushion of black gold - China and oil (Dec 02 2006) The Economist PREDICTING     China's impact on global oil demand is difficult enough at the best of times. But now that it is beginning to store emergency supplies of oil in “strategic reserves”, uncertainty is all the greater.

CNPC to Build Second JV in Russia (Dec 01 2006) SinoCast China Business Daily News       China National Petroleum Corporation (CNPC), one of the world's leading integrated energy companies, has signed an agreement with a Russia-based petroleum company to establish the second joint venture in Russia at the end of 2006 or the beginning of 2007

 

  • November

China enshrines energy conservation fund in law (Nov 30 2006) Xinhua News Agency      China's legislature is planning to include a special governmental energy conservation fund in the new draft of the Energy Conservation Law. 

Chinese firm acquires participating interest in Indonesian oil block (Nov 29 2006) BBC News      CITIC Resources Holdings announced on Tuesday [28 November] it has completed the acquisition of a 51-per cent stake in the production sharing contract (PSC) of an oil block in Indonesia.

A hindersight on Chinese oil companies' go-overseas setbacks (Nov 27 2006) Xinhua News Agency   In the past few years, Chinese oil companies have made varied achievements in acquiring overseas oil/gas stakes.

India, China can develop cooperation in energy sector: experts (Nov 26 2006) The Hindu      India and China can further develop their cooperation in energy security by exploiting their mutual synergies, experts feel but are still skeptical about Beijing's intentions in joining hands with New Delhi. 

Kazakhs seeking to halt deal (Nov 24 2006) Upstream      Kazakhstan has criticised a recently announced deal under which China International Trust & Investment Corporation, better known as Citic, will buy oil producer Karazhanbasmunai from Canada's Nations Energy, writes Vladimir Afanasiev.

China's oil giants make tentative moves into "green fuels" sector (Nov 24 2006) BBC News     China's oil giants - normally in the news for their massive profits and international expansion - are making tentative moves into the green fuels sector.

China International in talks with Kazakhstan on 1.91 bln usd oil deal - report (Nov 24 2006) Xinhua News Agency     Chinese and Kazakh officials are negotiating a deal to allow state-owned conglomerate China International Trust & Investment Corp to complete its 1.91 bln usd purchase of oil assets in the central Asian country, ...

CITIC Eyes Mid-Dec Pact To Smooth Kazakh Deal - Source (Nov 23 2006) Dow Jones International News      Chinese and Kazakh government officials are working on a settlement that could pave the way for state-owned conglomerate China International Trust & Investment Corp. to complete its announced $1.91 billion purchase of Kazakhstan oil assets, ...

Chinese expected to buy Angola's new Dalia crude (Nov 22 2006) Reuters News          The first shipments of Angola's Dalia crude were expected to load in January with Chinese refiners the most likely buyers, traders said on Wednesday.

China Looks To Unconventional Oil Reserves To Meet Growing Demand (Nov 21 2006) Emerging Markets Daily News       The growing importance of unconventional oil reserves in meeting projected oil demand growth in China was underlined during the inaugural World Heavy Oil Conference in Beijing.

China aims to match domestic, international gas prices, official (Nov 20 2006) Xinhua News Agency  China is mulling over new policies that will match its domestic gas prices with the international levels, according to sources with the National Development and Reform Commission (NDRC).

Aramco in China move (Nov 19 2006) ICIS Chemical Business       Americas Saudi Aramco has opened an office in Shanghai, China,to tap local manufacturing competence and material supply services.

China extends guarded support to India's quest for N-energy (Nov 19 2006) Organisation of Asia-Pacific News Agencies      China has expressed guarded support to India's quest for civil nuclear energy and rejected perceptions that the growing relations between New Delhi and the US were aimed at containing it.

2nd Conference on Heavy Oil is Due in Canada (Nov 18 2006) Trend News Agency (Azerbaijan)      Next international conference in the sphere of heavy oil production and refinery will be held in two years in Edmonton, Canada. 

Chinese invasion was just passing through (Nov 17 2006) National Post      China's apparent thirst for Canadian oil hit the small city of Kitimat, B.C., like an economic typhoon two years ago.

Saudi Aramco May Boost Crude Exports To Asia (Nov 15 2006) Emerging Markets Daily News          Saudi Aramco, the largest state oil company in the world, may increase its crude exports to Asia by up to 2% next year in order to meet growing demand.

Enbridge makes new pitch to Chinese on oil sands stake (Nov 14 2006) The Globe and Mail    Calgary-based Enbridge Inc. is trying to kick-start Chinese investment in Alberta's oil sands, just weeks after announcing the delay of its Gateway pipeline project due to lack of Chinese contracts.

CNOOC Starts Drilling First Exploration Well in Niger (Nov 14 2006) Xinhua News Agency          Based on November 10th reports, China National Petroleum Corporation, the parent of PetroChina Limited, announced recently that its unit, China National Oil & Gas Exploration and Development Corporation, has started the drilling of well Saha-1, ...

Allure Of Oil Sands Hard To Resist (Nov 14 2006) Dow Jones Asian Equities Report       Canada's vast reserves of oil sands make it the promised land for countries worrying about their energy security, but a slow start by Chinese companies in breaking into the market has left them struggling to catch up with foreign rivals.

China reiterates fuel tax to be introduced at appropriate time - planning agency (Nov 13 2006) Xinhua News Agency     China will introduce a fuel tax at an appropriate time in order to discourage excessive consumption as energy demand grows, ...

China eyes incentives for heavy oil exploration (Nov 12 2006) Reuters News     China has planned a raft of tax incentives to boost investment in heavy oil deposits including oil shale and oil sands, as Beijing looks to boost energy security, a senior government official said.

China to grant subsidy to bioenergy-producing firms to reduce oil dependency (Nov 11 2006) BBC News     China will grant subsidy to bioenergy-producing companies when the international crude oil prices fall below the oil alternative's production cost and last for a long period.

Beijing congress expected to attract 500 companies (Nov 10 2006) National Post      The Alberta government is partnering with China's largest state-controlled oil company to host the world's heavy oil industry in Beijing starting Sunday.

Azerbaijan Minister for Industry & Energy to talk at Oil Conference in Beijing (Nov 09 2006) Trend News Agency (Azerbaijan)     the Azerbaijani Ministry for Industry & Energy, will deliver a report on ‘Contemporary Energy Policy of Azerbaijan’ at the forthcoming specialized international conference on heavy oil production and refinery to be held in Beijing on 12-15 November ...

China, Saudi Arabia eye fund to boost investment (Nov 08 2006) South China Morning Post      China and Saudi Arabia may study a plan on the establishment of a fund to encourage investment between the two countries, according to a senior official of the Middle Eastern kingdom.

Wisdom of China's strategic oil reserves (Nov 07 2006) China Daily       Starting from early August, the international oil price started plummeting by sharp margins, with the price of crude futures on the New York market dropping by more than 20 per cent from the record-high of US$77.03 a barrel.

 

  • October

Survey for Russia-China Oil Pipeline Project Starts (Oct 31 2006) China Industry Daily News        Based on October 30th reports, the relevant Chinese departments disclosed recently that the scientific research and survey work for the proposed Russia-China crude oil pipeline project has started.

S.E. Asian nations to develop alternative energy sources with China (Oct 31 2006) Kyodo News     Southeast Asian nations will cooperate with China to develop alternative sources of energy because the region cannot rely on fossil fuels, Malaysian Prime Minister Abdullah Ahmad Badawi said Tuesday.

China Energy Cos Branch Out With Indonesia Deals (Oct 30 2006) Dow Jones International News     China's energy companies are expanding their footprint in Asia, scoring a series of multi-billion dollar deals to build power and chemical plants in Indonesia, a key supplier of China's growing imports of natural gas.

Egypt turns to Russia and China over nuclear energy (Oct 29 2006) Agence France Press           Following a 20-year freeze, Egypt has turned to China and Russia for help in relaunching its civil nuclear programme, a move which risks ruffling the feathers of its American ally, analysts say. 

Never too late to scramble - China in Africa (Oct 28 2006) The Economist       China is rapidly buying up Africa's oil, metals and farm produce. That fuels China's surging economic growth, but how good is it for Africa?

A Chinese windfall for green firms (Oct 27 2006) South China Morning Post          Last week, Australian Environment Minister Ian Campbell led a group of 60 businesspeople - involved in the renewable energy industry - to China.

China defends dealings with African nations accused of human rights abuses (Oct 26 2006) The Associated Press         China on Thursday defended its booming economic links with African governments accused of human rights abuses, as it prepared to welcome officials from more than 40 African countries for a conference aimed at cementing ties.

Capturing Carbon For Energy Security (Oct 25 2006) Dow Jones Energy Service       China's vast coal reserves, aging oil fields and army of power stations belching pollutants make it a prime candidate to popularize a technology that has the potential to put the brakes on climate change.

Russia-China trade deepens, crude pipeline in focus (Oct 24 2006) Reuters News      Trade between China and Russia is expected to rise to $36 billion this year, officials said on Wednesday, boosted by growing energy cooperation between the giant neighbours and high global oil prices.

30% of China's Crude Oil Import in 2005 from Africa (Oct 23 2006) SinoCast China Business Daily News       In 2005, China imported crude oil of 38.3 million tons from Africa, accounting for 30% of its total import, said Zhang Yuqing, deputy director of energy bureau of the NDRC ...

Egypt, China To Jointly Build 3 Oil Rigs By 2007 - Report (Oct 22 2006) Dow Jones News Service     Egypt signed three agreements with China involving cooperation in the oil and gas sectors, largely through building oil rigs, Al-Hayat newspaper reported Sunday.

All natural gas may go to China in Sakhalian-1 project (Oct 20 2006) Kyodo News      Exxon Mobil Corp. of the United States has concluded a provisional contract with China to supply it with all natural gas to be produced in the Sakhalin-1 oil and gas development project, in which Japan is also participating, oil industry sources said Saturday.

China looks to Africa to supply energy needs (Oct 19 2006) Shanghai Daily      China wants to accelerate the pace of energy cooperation with Africa, tapping oil and gas resources to feed China's growing economy while increasing investment in the continent, a government official said.

Total petrochem unit in China to triple output (Oct 18 2006) Reuters News      French energy firm Total's petrochemical unit plans to triple its polystyrene output in China in the next two years to get a bigger share of the world's second-largest petrochemicals market.

Egypt to produce oil rigs in deal with China (Oct 18 2006) Reuters News       An Egyptian-Chinese company will start producing oil rigs in Egypt next year, the Egyptian Oil Ministry said in a statement on Wednesday.

Australia eyes larger slice of China renewables (Oct 17 2006) Reuters News      Australia hopes to boost its slice of the Chinese renewable energy industry as it helps its neighbour adjust to the impact of rising global temperatures, Australian Environment Minister Ian Campbell said on Tuesday.

Australian renewable energy firms woo China (Oct 16 2006) Sydney MX       Environment Minister Ian Campbell says Aussie renewable energy firms are well placed to take advantage of China's huge demand for energy.

Keating says nuclear energy a "bad business" (Oct 15 2006) The Associated Press      Australia should maintain its no new mine uranium policy and should never sell uranium to China, former Prime Minister Paul Keating said today

Sinopec to build four oil product pipelines in central China (Oct 13 2006) Xinhua News Agency     Sinopec, the largest oil refiner both in China and Asia, will reinforce its market dominance in central China by building four oil product pipelines in Jiangxi, according to local economic planning authorities.

China Becomes World's Second-Largest Methanol Consuming Country (Oct 12 2006) Xinhua News Agency       According to the relevant Chinese departments, China has already become the world's second-largest methanol consuming country.

Chinese oil company discharging oil waste near south Kazkah city (Oct 11 2006) BBC News           A Chinese oil extracting company in [southern] Kyzylorda Region is flagrantly violating the law. The Ay-Dan-Munai [as heard] CNPC company has been polluting the environment by unlawfully discharging oil wastes in the outskirts of the [Kyzylorda] city.

China not a threat to global energy supply: official (Oct 10 2006) China Knowledge Press                The booming economic growth of China should not threaten global energy supply, said Long Yongtu, China's former chief negotiator of the World Trade Organization, ...

China Uses Russian Crude In Strategic Oil Reserve-Report (Oct 09 2006) Dow Jones International News      China has used crude oil imported from Russia in its newly built strategic petroleum reserve, the Beijing Times reported Tuesday.

China's LNG import to slow down for high price: CNOOC expert (Oct 08 2006) Xinuua News Agency  The staying-high prices of international liquefied natural gas (LNG) may restrain China's fast-growing imported-gas demand, according to a deputy chief economist of China's largest LNG importer, CNOOC Ltd..

China has been taking offshore oil for stocks-CNOOC (Oct 06 2006) Reuters News      China has been collecting some crude oil produced at offshore fields for its strategic reserves since the start of this year, an official with number three oil firm CNOOC said on Friday.

Kazakhstan to become major oil, gas exporter to China (Oct 05 2006) Platts Commodity News     Kazakhstan is planning to deliver major volumes of Caspian oil and gas to China by 2010 through twin 3,000-kilometer pipeline systems, a senior Kazakh energy official said this week.

Gazprom starts to build pipelines connecting Russia and China (Oct 04 2006) China Knowledge Press      Russian energy giant Gazprom OAO will start building a natural gas pipeline that will connect Russia and China, reported Xinhua news agency yesterday.

Kazakhs may start extending China oil link in 2007 (Oct 03 2006) Reuters News     Kazakhstan may start work next year on an extension to its oil export pipeline to China and plans to double the link's annual capacity to 20 million tonnes, around 400,000 barrels per day

 

  • September

Asia refiners say no notice yet of Saudi oil cuts (Sep 29 2006) Reuters News      Oil refiners in Japan, South Korea and China said on Friday they yet to receive any notice of cuts in supply contracts with Saudi Arabia, despite a decision by some OPEC members to cut supplies voluntarily.

BP clinches China deal in Fujian (Sep 29 2006) Upstream      BP AND China National Offshore Oil Corporation's (CNOOC) have finally signed a deal to supply the latter's liquefied natural gas terminal in Fujian province with LNG from the Tangguh project in Indonesia, ...

China could get Iraq's first foreign oil deal (Sep 28 2006) The Globe and Mail    Iraq could hand China the first foreign contract to develop its vast oil resources, if Beijing agrees to put into effect a deal originally signed with Saddam Hussein, Iraq's Oil Ministry said yesterday.

China, Russia to discuss energy cooperation in Oct (Sep 27 2006) BBC News       A Russian trade representative said here on Wednesday that Russia and China will discuss energy cooperation issues in late October.

China Likely to Slow down Progress in LNG Project (Sep 26 2006) SinoCast China Business Daily News Due to the soaring price of liquefied natural gas (LNG), China's LNG import will go slow, and the nation is therefore likely to slow down pace of LNG project expansion.

Sino-Russia energy cooperation: new developments (Sep 25 2006) Xinhua News Agency    When Russia encountered oil and natural gas quarrels with Ukraine and other European partners, it might start to take more serious consideration of diversifying its energy export scheme and laying eggs into more baskets.

Shell buys Chinese lubricants stake (Sep 25 2006) Financial Times     Royal Dutch Shell has bought a 75 per cent share in Tongyi, one of China’s top lubricant producers, a deal that the oil giant said would consolidate its position as the leading foreign company in the sector.

China Taps Middle East For Crude As Demand Surges (Sep 24 2006) Dow Jones International News     Crude cargoes arriving from the Middle East enabled China's oil imports to rebound in August, but underlined how far the world's second-largest oil consumer has to go to diversify its supplies away from the trouble-prone region.

Korea, China, Japan Engaged in Resource Diplomacy (Sep 24 2006) Maeil Business Newspaper Korea, China and Japan are currently in the middle of a "resource diplomacy" struggle in Central Asia, according to a report on Sunday.

Oil transportation from Russia to China by Transsib railway hits record (Sep 22 2006) ITAR-TASS    Oil transportation from Russia to China by the Transsiberian Railway reached its record level, ...

China CNOOC Inks Indonesia Tangguh LNG Supply Deal (Sep 21 2006) Dow Jones International News      China National Offshore Oil Corp. will announce Friday that it has signed a deal to purchase liquefied natural gas from Indonesia's Tangguh project, signaling a breakthrough on the long-held negotiations, ...

Sinopec plans to launch S China oil products pipeline by end-Nov (Sep 20 2006) Platts Commodity News     China's state-controlled oil giant Sinopec plans to put its Yuan 3 billion ($375 million) Pearl River Delta oil product pipeline in southern Guangdong province into commercial operation by the end of this November, a company official told Platts Wednesday.

Pakistan-China oil, gas cooperation rapidly growing: official (Sep 19 2006) Xinhua News Agency     Federal Minister for Petroleum and Natural Resources of Pakistan Amanaullah Khan Jadoon has said that Pakistan-China cooperation in the oil and gas sector was rapidly growing for the mutual advantage, ...

US controls price of crude oil (Sep 18 2006) People's Daily online                                                   Who is controlling the price of crude oil? The British Petroleum Company (BP), OPEC and Russia are all under suspicion, but there is really only one entity controlling the market.

China's CNOOC inks major deal with Malaysia's Petronas (Sep 17 2006) Agence France Press     China National Offshore Oil Corp (CNOOC) said it has wrapped up a deal with Malaysia's Petronas that could set a pricing benchmark for natural gas in Asia.

China should stop energy subsidies –central bank chief (Sep 16 2006) Reuters                       China, which is focusing on green development by improving energy efficiency, should remove price-distorting subsidies on energy and raw materials, central bank governor Zhou Xiaochuan said on Saturday.

Venezuela-China joint oil, gas investment to reach $5 billion (Sep 15 2006) Reuters                 Joint investment by Beijing and Caracas to develop oil and gas fields in Venezuela will reach $5 billion, Energy Minister Rafael Ramirez said Friday.

UK and China sign memorandum of understanding on energy (Sep 14 2006) Xinhua News Agency      The UK government said it has signed a deal paving the way for more cooperation with China on energy security and renewable power.

Saudi Aramco Awaiting Sinopec Move On China SPR (Sep 13 2006) Dow Jones Energy Service       Saudi Arabia is waiting for China to move ahead on negotiations to build the Asian country's first strategic oil reserves, a top Saudi Arabian official said Wednesday.

IEA: China Oil Demand Strong, Growth Forecast Unchanged (Sep 12 2006) Dow Jones Chinese Financial Wire        The International Energy Agency Tuesday left its oil demand forecasts for China unchanged, and said the country's oil demand remained robust in July.

U.S. companies invest 5 bln dollars in China's oil, gas exploration projects: official (Sep 11 2006) Xinhua News Agency        A senior Chinese official said here on September 11 that U.S. enterprises have already invested 5 billion U.S. dollars in China's ongoing oil and gas exploration projects.

PetroChina, Sinopec Bid for Petrochemical Project in UAE (Sep 11 2006) SinoCast China Business Daily News         Chinese petrochemical giant PetroChina is negotiating about an USD 1 billion chemical industry park project with Abudhabi National Oil Company (ADNOC), a state-owned petroleum enterprise of the United Arab Emirates (UAE).

Richard Koo, chief economist of Nomura Research Institute, says the U.S. and China should sharply boost taxes on gasoline to cut consumption (Sep 11 2006) BusinessWeek Online               The high oil prices of the last two years caught many by surprise. This is especially true for those who thought that alternative energy sources and vast reserves in marginal oil fields would keep prices from rising too high for too long.

Dubai Bourse Woos China On Sour Crude Futures (Sep 11 2006) Dow Jones International News           The Dubai Mercantile Exchange Ltd. is lobbying Chinese oil giants to trade its Oman sour crude futures contract, hoping to boost the liquidity of the Mideast's first energy future

 

  • August

 

China Rejects Japan's Concern Over New East China Sea Gas Project

Wednesday, August 30, 2006 - China rejected Wednesday Japan's complaint over a new gas exploration project in the East China Sea where the two countries are in dispute over resource exploration rights, calling it a "justified activity."

 

Offshore Pipe Laying for Sakhalin II Completed Ahead of Schedule

Wednesday, August 30, 2006 - In a season of milestone achievements, Sakhalin Energy has reached another milestone by completing the laying of its Piltun area offshore pipelines ahead of schedule, thus concluding all offshore pipelaying work for the Sakhalin II Phase 2 Project.

 

CNOOC Reports Record Interim Results

Tuesday, August 29, 2006 - CNOOC Limited announced today, its financial and operating results in the first half of 2006 hit the highest record since its listing, with total revenues, net profits and net production all increased steadily.

 

CNOOC Insists Chunxiao Production Ongoing as Planned

Tuesday, August 29, 2006 - China's largest offshore oil producer, CNOOC, has reported the Chunxiao gas field in the East China Sea, where China and Japan have differences over resource exploration rights, is "ongoing as planned," CNOOC Chairman Fu Chengyu said Tuesday.

 

South Korea, China Agree to Boost Energy Security Ties

Tuesday, August 29, 2006 - South Korea and China agreed to deepen ties for energy security, amid high global oil prices, including sharing technologies for building strategic oil reserves on South Korea's part, South Korea's Ministry of Commerce, Industry and Energy said.

 

CNOOC Reports Record Interim Results

Tuesday, August 29, 2006 - CNOOC Limited announced today, its financial and operating results in the first half of 2006 hit the highest record since its listing, with total revenues, net profits and net production all increased steadily.

 

CNOOC Insists Chunxiao Production Ongoing as Planned

Tuesday, August 29, 2006 - China's largest offshore oil producer, CNOOC, has reported the Chunxiao gas field in the East China Sea, where China and Japan have differences over resource exploration rights, is "ongoing as planned," CNOOC Chairman Fu Chengyu said Tuesday.

 

China, Vietnam Agree to Accelerate Joint Oil Exploration at Beibu Gulf

Friday, August 25, 2006 - China and Vietnam are to accelerate oil and gas exploration and extraction in border waters of the Beibu Gulf, says a joint statement released this week.

 

South Korea's Shipyards Clinch Record Orders in First Half

Thursday, August 24, 2006 - Shipyards in South Korea clinched record-high orders in the first half due to a hike in rig purchases amid high oil prices and a last-minute rush to place orders before tougher regulations on vessel structures took effect.

 

PetroChina Nets Record Profit of 80.7 Billion Yuan

Wednesday, August 23, 2006 - PetroChina, China's biggest oil and gas producer, reported a 29.4 percent net profit jump to 80.7 billion yuan ($10.1 billion) for the first six months of this year from 62.4 billion yuan in first half 2005, the company said Wednesday.

 

COSL Announces 2006 Interim Results

Tuesday, August 22, 2006 - China Oilfield Services Limited ("COSL" or "the Company"; stock code: 2883), the leading integrated oilfield services provider in the offshore China market, announced its interim results for the six months ended June 30, 2006.

 

Shell Faces Rough Ride Over Sakhalin Gas Project

Tuesday, August 22, 2006 - In any competition for the oil industry's most angst-filled executives, Royal Dutch Shell's Russia negotiators would merit a mention, given the mounting pressure on Shell's $20bn (E15.5bn, £10.6bn) gas project on Sakhalin Island.

 

PetroChina Finds New Oil Reserves in Daqing Field

Monday, August 21, 2006 - In the first half of the year, PetroChina Co. (PTR) found 250 million metric tons of oil reserves in its Daqing field in northeastern China, equivalent to 1.83 billion barrels, the official Xinhua News Agency reported.

 

Devon Sets Out to Follow Husky Gas Discovery

Friday, August 18, 2006 - Devon Energy will within weeks begin collecting data on a block in the South China Sea next to where rival Husky Energy reported one of the largest offshore gas fields ever found in Chinese waters.

 

Taiwan's CPC Eyes Oil Exploration in Paraguay, Guatemala

Tuesday, August 15, 2006 - Taiwan's state-owned Chinese Petroleum Corp. (CPC) will step up overseas oil exploration amid soaring world oil prices, and it is assessing the possibility of oil exploration in Paraguay and Guatemala, CPC officials said Monday.

 

China's First Strategic Oil Reserve to Begin Operation in October

Wednesday, August 09, 2006 - China's first strategic oil reserve will be completed in August and go into operation in October, said sources with the National Development and Reform Commission.

 

CNOOC and Husky Team Up Again to Explore Deepwater Areas

Tuesday, August 08, 2006 - CNOOC will team up again with Husky Oil China Limited in exploring deepwater areas Offshore China. A Production Sharing Contract has been inked by both parties for block 29/06 in Eastern South China Sea.

 

Apache Completes Sale of Oil Production Interest in China

Tuesday, August 08, 2006 - Apache Corp. said Tuesday that it has completed the previously announced sale of its 24.5-percent interest in China's producing Zhao Dong block to Australia-based ROC Oil Co. Limited for US$260 million.

 

Japan Confirms China Has Not Begun Production at Chunxiao Gas Field

Monday, August 07, 2006 - China has yet to begin full-fledged production in the Chunxiao gas field in the East China Sea, where Japan and China are at odds over resource exploration rights, the Japanese Foreign Ministry's top bureaucrat said Monday.

 

Chinese Rig Starts Drilling for Oil Off Russia's Sakhalin

Monday, August 07, 2006 - The Chinese offshore drilling platform Kantan-3 has commenced drilling an exploration oil well on the Sakhalin shelf as part of the Sakhalin-3 project.

 

Taiwan's CPC to Continue Oil Exploration Projects in Chad

Monday, August 07, 2006 - Taiwan's state-owned Chinese Petroleum Corp. (CPC) said Sunday it will continue its oil exploration projects in Chad even though the two countries have severed diplomatic ties.

 

Flowserve Dedicates Shop Near Shanghai

Monday, August 07, 2006 - Flowserve Corp., a leading provider of fluid motion and control products and services, held a dedication ceremony Monday at its new pump, valve and seal manufacturing facility in Suzhou, China.

 

CNOOC Fully Starts Production of Gas Field in East China Sea

Friday, August 04, 2006 - CNOOC Ltd. has begun production in its East China Sea gas field, which has been the focus of a dispute with Japan. It's the first time CNOOC has publicly acknowledged it launched production at Chunxiao.

 

Typhoon Prapiroon Moves Closer to South China

Thursday, August 03, 2006 - At least one person was scratched by falling containers Wednesday afternoon in Hong Kong as Typhoon Prapiroon gained its strength in the South China Sea and brought occasional heavy rains and strong wind to the metropolis.

 

Russian Official: Sakhalin-2 Oil Project Environmentally Unsafe

Thursday, August 03, 2006 - The construction of oil and gas pipelines for the Sakhalin-2 project should be suspended for environmental reasons, Oleg Mitvol, deputy head of the Russian Federal Service for Regulation of the Use of Natural Resources (Rosprirodnadzor), has said.

 

Roc: 'No Unpleasant Surprises' from Beibu Discovery

Tuesday, August 01, 2006 - Roc Oil Co. Limited reported that preliminary appraisal results from the second sidetrack well drilled at the recent Wei 6-12S-1 oil discovery in Block 22/12 in the Beibu Gulf, offshore China, range from encouraging to as expected.

 

Fortune Garners Liulin CBM Rights

Tuesday, August 01, 2006 - Fortune Oil PLC said that the Chinese Ministry of Commerce has approved the transfer of the foreign contractor rights in the Liulin block Production Sharing Contract (PSC) for coal bed methane (CBM) to Fortune Liulin Gas Co. Limited.

 


  
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