QatarEnergy is set to secure its second large gas supply deal with China in less than a year, Reuters reported, citing sources familiar with the deal. China National Petroleum Corp (CNPC) and QatarEnergy are expected to sign a 27-year agreement later today, under which China will purchase 4 million metric tons of LNG a year […]
China
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Saudi Arabia, China sign $10 billion deals
Saudi Arabia and China have signed 30 investment agreements worth $10 billion across various sectors including technology, renewables, minerals, supply chains, and healthcare on the first day of the 10th Arab-China Business Conference. According to the Investment Ministry, the Saudi government signed deals with several Chinese entities for projects including a joint venture for automotive […]
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Iraq’s Basrah natural gas project begins operations
The first train of Iraq Basrah natural gas liquids plant (BNGL) which is being constructed by China Petroleum Engineering & Construction Corp (CPECC) was successfully put into operation, the company said in a statement. The project aims to increase capacity by 40% by adding a 400 million standard cubic feet per day (cf/d) greenfield gas […]
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Saudi Arabia, China discuss energy cooperation and bilateral relations
The discussion centred around aligning with the objectives of Saudi Arabia’s Vision 2030 and China’s Bel and Road Initiative
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Iraq awards major contract to build oil storage facility
[Editor’s note: The story was updated on June 2, 2023} Iraq is going full throttle in its oil and gas development and held a resumption ceremony for a project award to a Chinese firm to build a crude oil depot for export with a capacity of around 3.2 million barrels, Zawya reported, citing Iraqi officials. […]
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Aramco’s massive production expansion to support China’s energy strategy, CEO Amin Nasser says
Saudi Aramco’s oil production capacity expansion by a million barrels per day to 13 million barrels by 2027 will strengthen China’s long-term energy security, company President and CEO Amin H Nasser told China Development Forum 2023. In addition, the oil major will increase its gas production by more than 50% by 2030, which should release an additional […]
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Aramco announces construction of major refinery and petrochemical complex
Aramco and joint venture partners NORINCO Group and Panjin Xincheng Industrial Group plan to start construction of a major integrated refinery and petrochemical complex in northeast China, Aramco announced today. Huajin Aramco Petrochemical Co (HAPCO), which is a joint venture between Aramco (30%), NORINCO Group (51%) and Panjin Xincheng Industrial Group (19%), is developing the complex […]
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OPEC expects higher oil demand growth as China relaxes COVID restrictions
The projection is 100,000 bpd higher than last month’s forecast
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UK PM Johnson to meet UAE, Saudi Crown Princes amid oil market supply worries
The leaders will meet while global markets continue a tumultuous 2022 amid Russia’s ongoing war in Ukraine
UK Prime Minister is set to visit the UAE and Saudi Arabia this week amid calls for the Organization of Petroleum Exporting Countries (OPEC) to increase oil output, Arabian Business reported. Oil prices have surged this year as supply issues caused prices to increase with the Ukraine-Russia crisis later throwing markets into turmoil. Sanctions imposed […]
Posted inExploration & Production
China to lead Asia LNG regasification capacity additions through 2025, forecasts GlobalData
GlobalData identifies India to be the second-highest contributor to the global LNG regasification capacity additions with new build LNG regasification capacity additions of 3,062 bcf by 2025
China is expected to lead the Asia’s LNG regasification capacity additions, contributing 36% of the total LNG regasification capacity additions between 2021 and 2025, forecasts GlobalData, a leading data and analytics company. GlobalData’s report, ‘Asia Capacity and Capital Expenditure Outlook for LNG Regasification Terminals, 2021–2025 –China Dominates LNG Regasification Capacity Additions and Capex Spending in […]
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