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Chinese Firm Moves Forward With This Strategically Critical Iraqi Gas Field

Oil & Gas‚ Oil and Gas Industry | intent | December 5, 2024 | Comment off

In practical energy terms, the Mansuriya field holds an estimated 4.5 trillion standard cubic feet (Tscf) of gas and is expected to produce around 300 million scf per day (Mmscf/d) of gas at its peak, although it will start running at about 100 Mmscf/d within 18 months, a senior energy source who works closely with Iraq’s Oil Ministry told OilPrice.com. That said, the site has a deeper and broader appeal to China, with the Mansuriya field having long been regarded by it, the U.S., Russia and Iran as holding a vital strategic position in the heart of the Middle East.

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CNOOC begins production on Huizhou 26-6 oilfield development project

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

The project is located in the Pearl River Mouth Basin, with an average water depth of approximately 110 meters. The main production facilities include a new intelligent drilling production platform, as well as the adaptively modified “NAN HAI FEN JIN” FPSO. A total of 19 development wells are planned to be commissioned, including 2 oil production wells and 17 gas production wells. The project is expected to achieve a peak production of approximately 20,600 boed in 2027. The main products include light crude and natural gas.

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China’s Industrial Sector Posts Large Profit Decline In October

Oil & Gas‚ Oil and Gas Industry | intent | November 28, 2024 | Comment off

China’s large industrial firms reported a 10 % Y/Y decline in profits in October, with the property and retail sectors hit the hardest, the National Bureau of Statistics in Beijing said on Wednesday. Total profits for the first 10 months of the current year fell 4.3% Y/Y to 5.87 trillion yuan (US$810.9 billion), worse than the 3.5 per cent drop recorded in the first nine months.

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Kazakhstan Interests In Transit Of Russian Gas To China Through Its Territory

Uncategorized | intent | November 26, 2024 | 0 comment

Kazakhstan is considering the construction of a new gas pipeline to transport gas from Russia to China through its territory. This potential project will be pursued if Moscow and Beijing reach an agreement on the matter. “The issue of a new gas pipeline from Russia to China is within the competence of these two countries. If they agree, Kazakhstan is […]

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Oil Is Still Not Out of The Woods

Oil & Gas‚ Oil and Gas Industry | intent | October 21, 2024 | Comment off

This week, crude oil prices faced sharp declines due to a confluence of factors that weighed heavily on market sentiment. Concerns over weak demand, particularly from China, and the easing of supply risks in the Middle East were central to the downward pressure on prices. Simultaneously, a series of reports from major institutions like the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) lowered global demand forecasts for 2024, reinforcing the bearish outlook.

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