China drew 41 million barrels from crude inventories in June, one of the largest monthly draws on record, according to the International Energy Agency.
China’s state-owned oil and gas major and top refiner Sinopec is ramping up exploration in the shale formations of the Sichuan basin with a view to increasing the country’s shale gas production by a third over the next ten years.
China’s top offshore crude oil and natural gas producer, CNOOC, on Wednesday announced the launch of full production from phase one development of the Kenli 10-2 oilfield in the south Bohai Sea.
Two liquefied natural gas carriers and a supertanker have traversed the Strait of Hormuz over the past couple of days, with the LNG vessels heading for Pakistan and China, and the tanker, loaded with Iraqi crude, is en route to China.
The U.S. and China called for the Strait of Hormuz to reopen following talks between President Donald Trump and Chinese President Xi Jinping, though negotiations over the Iran conflict remain deadlocked as global oil prices continue climbing.
Two fully laden Chinese oil tankers are waiting near the Strait of Hormuz with a third on its way, putting them in a position to become the first such vessels to leave the Persian Gulf under a day-old US-Iran ceasefire, even as shipowners scrutinize the details of the truce.
China’s state-run oil and gas giants are moderating expansion plans as they balance market volatility against long-term energy security goals.
Russia’s oil exports were essentially flat in 2025 compared to a year earlier, with most supplies – a massive 80% — going to China and India, Russian Deputy Prime Minister Alexander Novak said on Friday.
A Philippine tycoon said partnering with China may be an option in the development of a new gas field in an area of the South China Sea where the two nations have competing maritime claims.
Crude oil imports into China last year hit the highest ever, reaching 11.55 million barrels daily, or a total of 557.73 million tons, up 4.4% on 2024, Reuters reported today, citing official statistics. The December total was also a record high, the data showed, at an average daily of 13.18 million barrels for a total of 55.97 […]