Nigeria takes Addax licences, hands them to Offor
Nigeria has revoked four licences held by Addax Petroleum and handed them to the operator's former contractor.
Sinopec
China’s mega-refineries are throttling other Asia oil processors
The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region.
China’s Sinopec boosts capital spending by 24%
China Petroleum & Chemical Corp, better known as Sinopec, plans a 24% rise in capital spending to 167.2 billion yuan ($25.5 billion) in 2021 as oil prices and energy demand strengthen.
Qatar signs first long-term LNG deal with China’s Sinopec
Qatar Petroleum will supply China’s Sinopec with 2 million tonnes per year of LNG for a ten-year term.
China’s Sinopec strikes major discovery in frontier basin
Sinopec, China’s second-largest energy company has made a significant oil and gas find in the remote Tarim basin in the country’s north-west Xinjiang region.
Chinese oil majors undervalued
Analysis from investment house Bernstein suggests that the Chinese oil majors - CNOOC, Sinopec and PetroChina - offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.
China’s Sinopec is rolling out world’s biggest hydrogen network
Sinopec aims to massively expand its hydrogen refuelling network as the state-owned oil giant, which has the potential to become one of the world’s largest hydrogen producers, attempts to carve out a role in China’s transition to cleaner energy.
Eni tipped to takeover giant Chevron project in Indonesia by March
SKK Migas, Indonesia’s upstream regulator, expects Eni to takeover Chevron’s giant Indonesia Deepwater Development (IDD) during the first quarter 2021. If the move comes to pass, expect other potential buyers, that could include Pertamina, Sinopec, Neptune Energy and Saka Energi, to be in the new IDD mix.
S&P swings downgrade axe on energy majors amid transition
S&P Global Ratings has downgraded its outlook for a number of energy majors, driven by concerns around the energy transition and pressure on profitability.
Wood secures major contract for ethylene expansion in China
Engineering and consulting giant Wood has clinched a deal worth more than $120 million for a refinery project in south China.
CNOOC seeks buyers for Scott platform in UK North Sea: Report
CNOOC is looking for buyers for its Scott platform and associated oilfields in the UK North Sea, according to Reuters.
Sonangol income halves in 2019
Sonangol posted net income of $125 million for 2019, while EBITDA reached $4.78 billion up 10% year on year.
EnQuest, Sinopec ‘among bidders’ for ExxonMobil UK North Sea oil and gas fields
ExxonMobil's UK North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the US oil giant seeks to exit the aging region altogether, according to people with knowledge of the matter.
BP celebrates Greater Plutonio milestone
BP’s Greater Plutonio floating production, storage and offloading (FPSO) vessel offshore Angola has produced 600 million barrels of oil.
China oil giants cash in with pipeline deals worth $56bn
China’s biggest oil and gas companies finalized deals worth $56 billion to sell their pipeline networks to a new national carrier at premiums to their book value, a long-awaited step that’s being seen as a boost for investors.
China eyes African opportunities
Amidst the oil price crash crisis and the pressure on companies, opportunities are emerging for those with resources.
New CEO takes over at Repsol Sinopec Resources UK
A new chief executive has today taken on the top job at North Sea operator Repsol Sinopec Resources UK.
President Xi orders China’s oil industry to ‘drill’
Oil’s historic price crash is presenting an uncomfortable dilemma to China’s energy majors: follow market signals to cut drilling, or heed President Xi Jinping’s orders to boost output.
Repsol sets aside nearly £700m for North Sea arbitration
A Spanish oil giant has set aside nearly £700 million in case it ends up on the wrong side of a long-running arbitration centred on a UK North Sea joint venture.
Woodmac: Coronavirus and the impact on gas and LNG
As with all commodities, the impact of the novel coronavirus (2019-nCoV) on Chinese gas demand will depend on both the severity and length of time required to contain the outbreak.
China LNG force majeure rejected as virus chaos sparks dispute
Two of Europe’s biggest energy companies rejected a Chinese force majeure on liquefied natural gas contracts in the latest twist to a drama that’s gripping global commodities markets.
Norwegian oil making competitive entry into Asian markets
Norway’s new oil grade is making inroads in Asia, threatening to undermine sales of similar crudes from Africa and South America.
First oil from Johan Sverdrup to be shipped to China
First oil from Equinor’s giant Johan Sverdrup field is to be shipped to China, the Norwegian operator has announced.
Sinopec looks to start cutting rates and operations in November
China’s biggest refiner plans to reduce operations from next month after a surge in the cost of shipping crude eroded margins, according to people with knowledge of the matter.
Shell ‘most valuable’ global oil and gas brand
Oil giant Shell has emerged as the world's "most valuable" oil and gas brand, according to a global brand consultancy group.