China’s oil consumption fell 9% year over year in the second quarter as expensive crude accelerated the use of electric cars, trucks, rail and industrial equipment.
CNOOC Limited produced a record 398.7 MMboe in the first half of 2026, up 3.7% year over year, as new offshore projects and exploration gains supported production growth in China and overseas.
Saudi Aramco has offered more oil for loading outside the Strait of Hormuz in September, four sources with knowledge of the matter said on Wednesday, after the producer sold at least 4 million barrels to China this month.Shipping data indicates that Aramco has resorted to shuttling cargoes aboard tankers with their trackers switched off to […]
The world’s biggest oil refiner, China’s state-held Sinopec, is looking to transform its business as domestic fuel sales crumble amid the electric vehicle boom.
China’s oil demand probably peaked last year, earlier than previous estimates, according to the head of the nation’s top refiner.
China has pledged to increase its domestic oil and gas supplies to 440 million tons of oil equivalent, while expanding its long-distance pipeline network by an additional 20,000 kilometers, bringing the national total to 220,000 kilometers by 2030. These targets, unveiled on Monday by the National Development and Reform Commission (NDRC) and the National Energy […]
Philippine President Ferdinand Marcos Jr. said Friday there is a “distinct possibility” that the Philippines and China could undertake joint oil and gas exploration in the South China Sea, amid recent confrontations between the two countries in the South China Sea.
The first phase of China’s Bozhong 19-6 gas field, the country’s first 100-billion-cubic-meter-scale gas field in the Bohai Sea, has entered full operation, with daily oil and gas output exceeding 5,200 tonnes, China National Offshore Oil Corporation said on Sunday.
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.