Author: intent

Unconventional Resources Fuel China’s Energy Growth

Oil & Gas‚ Oil and Gas Industry | intent | April 11, 2025 | Comment off

At the heart of China’s energy strategy lies its ambitious, seven-year (2019-2025) domestic oil and gas production campaign launched by the National Energy Administration in response to growing energy security concerns. The results have been promising: since the campaign’s inception China has reversed a domestic production decline and increased output by approximately 480,000 barrels per day. However, the country’s dependency on foreign oil remains high, with imports filling more than 70% of Chinese demand.

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Iraq’s 7 Million bpd Oil Production Goal Draws Swift Response from Chinese Firms

Oil & Gas‚ Oil and Gas Industry | intent | April 11, 2025 | Comment off

The recent reiteration by Iraq Oil Ministry of a 7 million barrels per day (bpd) oil production target within the next five years has spurred activity among Chinese firms that continue to dominate the country’s oil and gas sector. As it stands, more than a third of all Iraq’s proven oil and gas reserves and over two-thirds of its current production are managed by Beijing’s companies, according to industry figures. This translates into Chinese companies having a combined direct share in around 24 billion barrels of reserves and responsibility for production of around 3.0 million bpd. The latest in the very long line of Beijing’s firms to benefit from its ongoing stealthy takeover of Iraq’s huge oil and gas assets is China Huanqiu Contracting & Engineering Company (HQC), which has signed a huge project management consultancy contract for the supergiant West Qurna 1 oilfield.

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Oil Tumbles as Tariff Jitters Return

Oil & Gas‚ Oil and Gas Industry | intent | April 11, 2025 | Comment off

“President Trump is trying to lower inflation, and lowering energy prices is the crux of that strategy,” said Simon Wong, an analyst at Gabelli Funds. Subdued inflation would empower the Federal Reserve to cut interest rates, which would allow Trump to refinance trillions in debt at reduced rates, he added.

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Trump Signs Order to Protect Big Oil From State Emissions Fines

Oil & Gas‚ Oil and Gas Industry | intent | April 11, 2025 | Comment off

Oil executives had identified efforts by New York and other states to penalize the industry for its greenhouse gas emissions and contributions to climate change as a top concern during a meeting with the president at the White House last month, according to people familiar with the matter. It’s an example of how the industry is getting much of what it wants from the administration, even as Trump’s global tariffs have triggered a sharp drop in crude prices over the past week.

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EU States Set to Back More Flexibility for Filling Gas Storage

Oil & Gas‚ Oil and Gas Industry | intent | April 11, 2025 | Comment off

Ambassadors from the bloc’s 27 member states will meet in Brussels on Friday to sign off on a joint push for a 10 percentage-point deviation until 2027 from rules that require tanks to be 90 percent full by winter. If their position is agreed soon with the European Parliament in upcoming talks, the new regulations could come into effect before the next heating season.

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Oil Prices Surge as Trump Pauses Tariffs

Oil & Gas‚ Oil and Gas Industry | intent | April 10, 2025 | Comment off

World markets soared on Thursday, with Japan’s benchmark jumping more than 9%, as investors welcomed US President Donald Trump’s decision to put his sharp tariff hikes on hold for 90 days, though he excluded China from the reprieve.In early trading, Germany’s DAX initially gained 5.6% to 20,776.76, while France’s CAC 40 in Paris gained 5.4% […]

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