CEFC China Energy is set to buy a 14.16% stake of state-owned Russian oil firm Rosneft in a US$9.1 billion deal with the consortium of Glencore and the Qatar Investment Authority (QIA). Image from Rosneft…
Wood Mackenzie recently published a comparison of Wood Mackenzie’s Energy View to 2035, versus similar outlooks published by the International Energy Agency (IEA NP), BP, and ExxonMobil. Some key points: All forecasts expect energy demand growth through 2035 – however…
China has successfully mined flammable ice, or natural gas hydrates, at the Shenhu area of the South China Sea. Image from iStock The mining of gas hydrates marks a major breakthrough that could lead to a global energy revolution…
The European Marine Energy Centre (EMEC) based in Orkney, Scotland, has strengthened its ties with China having signed a Memorandum of Understanding with organizations based in Qingdao to support the development of a marine energy test site in the area…
Primeline Energy Holdings spudded the LS23-1-1 exploration well on 23 September to tap into resources near its LS36-1 gas field production facility, in the East China Sea. Images from Primeline Energy…
SKF has been selected to deliver Nautilus bearings for Dongfang Electric New Energy Equipment (Hangzhou) Co Ltd.’s first order of wind turbines outside China. Dongfang Electric New Energy Equipment is a leading manufacturer of wind turbines to a broad range of customers in China…
BP and the China National Offshore Oil Corp. (CNOOC) signed a heads of agreement regarding the supply of up to 1.5MTPA of liquefied natural gas (LNG) over 20 years starting in 2019, the supermajor announced on 17 June 2014. The agreement…
“The South China Sea is not the new Persian Gulf. It should just be thought of as an important part of the supply picture of this region,” Alexander Metelitsa, an economist at the US Energy Information Administration (EIA), told delegates at IP Week in London…
BP chief economist Christof Ruehl said the US will become energy independent, due to unconventionals, by 2030, in yesterday’s [Thursday] lunch, Energy Markets – the Short and Long Term. Ruehl said unconventionals (tight oil and shale…
The United States Energy Information Administration (EIA) issued news release on 9 August with its forecast that China's net oil imports will exceed those of the U.S. by October 2013 on a monthly basis, and by 2014 on an annual basis, making China the largest oil importer in the world…
Chevron subsidiary Chevron China Energy and China National Offshore Oil Corp (CNOOC) signed production sharing contracts for two shallow water exploration blocks in the South China Sea. Chevron will hold 100% interest during the exploration…
Chevron signs up for South China Sea acreageChevron China and China National Offshore Oil Corp. (CNOOC) have entered into production sharing contracts (PSC) for two exploration blocks in the South China Sea, the company announced on 16 January 2013…
China is on track to reach levels of oil use on par with today’s US demand by 2040, according to a new study by the James A Baker III Institute for Public Policy at Rice University in Houston.The study, The Rise of China and Its Energy Implications…
China constantly shakes many of the world's beliefs, for better or worse, from its economic growth to trade to human rights. There is no doubt that China will become before not too long the world's dominant economic power. It also provides an additional…
It is perhaps the biggest social and economic challenge of the world today: how will China acquire sufficient energy resources, of oil and perhaps even more important, natural gas, over the next several decades? China’s energy makeup is still quite primitive: 70% of China’s energy comes from coal…
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