Kyrgyzneftegaz OJSC and the Chinese company Sinopec have agreed to expand cooperation on geological exploration in the Alay Valley of Kyrgyzstan. According to Kyrgyzneftegaz, a Kyrgyz delegation attended an international conference on oil and gas engineering technologies in Beijing, where they familiarized themselves with modern drilling technologies, geophysical survey methods, and other advanced techniques used […]
China’s Sinopec, the world’s top refiner by capacity, expects Chinese oil demand to drop by 8.9% in 2026 from a year earlier amid demand destruction from higher oil prices and the acceleration of electric vehicle adoption.
China’s oil demand probably peaked last year, earlier than previous estimates, according to the head of the nation’s top refiner.
Sinopec has secured official approval for 235.687 Bcm of proven geological reserves at the Ziyang Dongfeng shale gas field in China’s Sichuan basin, marking the country’s first ultra-deep shale gas field with reserves exceeding 100 Bcm.
China Petroleum & Chemical Corporation (Sinopec) has announced a major shale gas exploration breakthrough of its Project Deep Earth – Sichuan and Chongqing Natural Gas Base. The vertical depth of the well reaches over 5,300 m with a 1,312-m-long horizontal section, setting a new record for vertical depth of shale gas wells in China.
Aramco, Sinopec and Yasref have signed a venture framework agreement for a major expansion at the Yasref petrochemicals complex in Yanbu, Saudi Arabia, the companies announced on Wednesday.
China has substantial shale resources, especially in natural gas, but extracting them is a challenge, unlike in the United States, due to the complex geology of the local shale formations.
Sonatrach and Sinopec International Energy Investment (HK) Holding have signed a hydrocarbons PSC worth USD 850 million for exploration and development in Algeria, the Algerian NOC announced.
A new Chinese umbrella company grouping all the state majors will drill for ultradeep oil and gas, and explore shale formations in China.
China produced 4.2 million barrels daily in 2023.
Unconventional resources have long been a focus of attention for China’s state oil and gas majors, but developing them has been a challenge.
China’s largest oil refiner Sinopec (0386) saw its net profit fall about 13 percent to 58.3 billion yuan (HK$63.87 billion) in 2023 from a year ago due to decreased energy prices, and announced a final dividend of 0.2 yuan apiece.