Kazakhstan has struck a number of deals this month to expand co-operation with China in the oil and gas industry, as Astana seeks closer ties with Beijing while reducing its reliance on Moscow. Kazakh national welfare fund Samruk-Kazyna and China’s state-owned oil company CNPC reached agreements in Astana on June 6 on jointly developing Kazakhstan’s oil and gas industry, the former reported.
GEORGETOWN, June 16, 2023 – Chinese EPC company Bomesc Offshore Engineering Company has signed a contract with Japanese shipbuilding entity MODEC to build FPSO modules for ExxonMobil’s Errea Wittu FPSO bound for Guyana, Upstream Online reported on Thursday.
Oil markets got some rare good news out of China this week, with Beijing loosening monetary policy and issuing new import quotas for refiners, boosting hopes that the country’s oil demand will bounce back.
Saudi Arabia has long had deep ties with the East and the West thanks to its strong position in the international energy arena. The Kingdom has been an oil and gas superpower for decades and is now focusing its attention on the development of its green energy capacity, to lead in the world of renewables.
Pakistan paid for its first government-to-government import of discounted Russian crude oil in Chinese currency, the South Asian country’s petroleum minister said on Monday, a significant shift in its U.S. dollar-dominated export payments policy.
In its new medium-term report on oil that came out last week, the International Energy Agency predicted that oil demand will peak by 2028.
The China National Petroleum Corporation (CNPC), the government-owned parent company of PetroChina, and Cnooc (OTCPK: CEOHF) has kicked off ultra-deepwater exploratory drilling for oil and gas as the country looks to wean itself of foreign oil.
British energy giant Shell is boosting its oil and gas production to book profits in the near term. It’s also building out electric vehicle charging stations across Asia.
Angola is China’s second-largest trading partner in Africa, with bilateral trade surpassing 27 billion US dollars in 2022.
Following the recent slew of major cooperation agreements (including in energy, security, and logistics) between various permutations of Iran, Iraq, Russia, and China, another set of agreements – this time between Iran and Oman – allows Beijing to further consolidate its grip over the principal oil transit routes from the Middle East. It also allows it the opportunity to develop another major source of liquefied natural gas (LNG) supplies, to the detriment of the U.S.’s key allies in Europe.