Speculation is in the air, but it’s not on Wall Street or at some commodity trader’s desk at the Chicago Mercantile Exchange. It comes from China. Earlier this week, both foreign and domestic media reported that two of China’s national oil companies (NOCs), Sinopec and PetroChina, (the country’s two largest oil exploration companies) could merge.… Keep reading →
PetroChina
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We will never sell or share your information without your consent. See our privacy policy.Dodging Sanctions, French Oil Major Seeks to Fund Russian LNG Project with Yuan & Euros
By Tim DaissWestern economic sanctions against Russian oil and energy interests are steadily playing out, this time affecting French oil major Total S.A.’s ability to finance part of the $27 billion Yamal liquefied natural gas (LNG) project in the Russian Arctic. Reports broke toward the end of last week that Total will seek as much as $15… Keep reading →
In 2008, as Beijing geared up for the summer Olympics by stockpiling crude oil, the world blamed the Communist government for inflating prices. Now eyes are back on China, wondering if demand from the Asian nation will bolster falling crude prices. With oil prices falling to their lowest level in years, the Chinese are taking… Keep reading →
Understanding China’s domestic oil market is akin to following an opaque and moving target, but a new report by independent price reporting organization Platts highlights the changing dynamics of one area in the Chinese oil market that is most responsive to economic signals: China’s teakettle refiners. Playing Against Monopolies Monopolized by state-owned but publically listed… Keep reading →
When China released its 2015 targets of 6.5 billion cubic meters of shale gas a few years back (source, in Chinese), it looked like the goal was out of reach. At the time, the country had zero commercial shale gas production and domestic natural gas extraction was mainly in the hands of state-owned companies. But… Keep reading →
Reading the Tea Leaves: Chinese National Oil Companies’ Diverging Strategies
By Kate Rosow ChrismanFirst, BP dropped plans to invest in a refinery in Qinzhou. Then PetroChina delayed plans for it’s Kunming refinery, part of a larger plan that includes a pipeline linking Southwestern China to the Bay of Benegal through Myanmar (bypassing the Malacca Straits). Now, two of the largest Chinese national oil companies (NOCs) are paring back… Keep reading →
With Rising Gasoline Demand, Beijing Plans to Pass on Costs to Consumers
By Kate Rosow ChrismanAs Chinese citizens demand cleaner air, but put more cars on the road, Beijing is retooling its policies towards fuel standards and pricing, while Chinese refiners adjust company strategy. Watch for these forces to play out in the next few years, with the potential for ripple affects throughout Asia, especially in the gasoline and diesel… Keep reading →
Energy News Roundup: PetroChina to Buy Stake in Iraq’s West Qurna Field from ExxonMobil
By Conway IrwinWe hope everyone had a wonderful Thanksgiving and ate far too much yesterday… PetroChina has agreed to buy 25% of the West Qurna oil field in Iraq from ExxonMobil for an undisclosed sum. An analyst at Sanford Bernstein previously estimated the value of ExxonMobil’s 60% interest in the field at $3 billion. [Bloomberg] An easing… Keep reading →
A recent Wall Street Journal article discussed major oil company reserve holdings and how investors should evaluate a company’s reserve quality, quantity and global geographic distribution. It is an interesting story about a very important topic, but a lack of clarity with regard to some of the methodology and terminology leaves many questions unanswered. However,… Keep reading →