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Bidding opens for Xinjiang oil and gas blocks

Northwestern Chinas Xinjiang Uygur autonomous region launched bidding on Tuesday for six oil and gas blocks to private enterprises, a move that may end the monopoly of State-owned enterprises in oil and gas exploration, industry insiders sa......【More】

2015-07-09

Rolls-Royce drives China’s move to gas with Asia’s first LNG-powered tug

China National Offshore Oil Corporation (CNOOC) has taken delivery of Asias first tugboat Hai Yang Shi You 525, designed to operate solely on liquefied natural gas as ships fuel, the company said in its press release. Hai Yang Shi You 525,......【More】

2015-07-08

US Oil Supply Exceeds Demand, Pushes down Prices

An oversupply in the US oil market due to the rising rig count, led to supply exceeding the demand for crude oil. Also, the suspected stock market manipulation in the Chinese market had a bearing on the oil prices, which dropped on Friday,......【More】

2015-07-07

Sinopec, Cnooc Said Readying Bids for Petrobras Field Stakes

Two Chinese companies that entered Brazils giant deep-water oilfields two years ago are now looking to increase their presence as state-run Petrobras sells assets to pay down debt, said two people with knowledge of the matter. China Petrole......【More】

2015-07-06

Construction on China-Russia gas pipeline started in China

Chinese Vice Premier Zhang Gaoli announced here Monday afternoon start of construction on the Chinese section of the China-Russia East Route natural gas pipeline. Zhang said the Chinese side is ready to work with the Russian side to ensure......【More】

2015-06-30

Saudi Arabia loses spot as top crude supplier to India, China

Saudi Arabia lost its spot last month as India`s top oil supplier to Nigeria for the first time in at least four years, according to ship tracking data compiled by Reuters, as the world`s top crude exporter struggles to maintain market shar......【More】

2015-06-29

NDRC opts against oil price adjustment

Chinas price watchdog on Tuesday opted against adjusting gasoline and diesel guide prices in the domestic market as global prices have remained relatively calm recently. Under an oil pricing policy in place since the start of 2013, the Nati......【More】

2015-06-26

Siberian oil deal sees BP bet on Russia’s pivot toward China

BP Plcs $750 million purchase of a Siberian oilfield stake is as much a bet on China as it is on Russia. Taas-Yuriakh Neftegazodobycha LLCs blocks near Chinas northern border will supply the planned Tianjin refinery on the east coast, accor......【More】

2015-06-25

Rosneft Working With Sinopec on Payments in National Currencies

The head of Rosneft says that the Russian company is working with Chinas petroleum and chemical corporation Sinopec on the issue of mutual payments in national currencies. Russias oil giant Rosneft is working with Chinas petroleum and chemi......【More】

2015-06-24

CNPC teams up with Tencent for energy internet development

Chinese oil giant China National Petroleum Corporation (CNPC) has signed a strategic partnership agreement with leading internet company Tencent to promote the internet transformation of energy companies, in line with the countrys Internet......【More】

2015-06-17