Addax ends Nigeria saga with NNPC transfer
As a result, they agreed the “clean and amicable exit for Addax by resolving all the PSC contractual issues, including litigation”.
Sinopec
Eni denies that it has replaced Chevron as operator of IDD project
Eni (MIL:ENI) has denied reports in Indonesia last week, citing a senior government official, suggesting that the Italian company had become the new operator of the Indonesia Deepwater Development (IDD) project, replacing Chevron.
Sinopec snaps up first NFE LNG offtake deal with Qatar
Sinopec has signed up to buy 4 million tonnes per year of LNG from QatarEnergy (QE) for 27 years.
Sinopec looks for more from Sonatrach, amid production push
Sonatrach has signed a new memorandum of understanding (MoU) with Sinopec, with the aim of expanding the two companies’ co-operation.
Shell explores joint venture for open-source CCUS in China
Shell (LON:SHEL) has signed a memorandum of understanding (MoU) with Sinopec, Baowu and BASF to explore the feasibility of developing an open-source carbon capture, utilisation and storage (CCUS) project in the East China region.
Sinopec makes major shale gas discovery in China
China’s Sinopec said it has discovered major shale gas reserves in the Jinshi 103HF exploratory well in the country’s Sichuan basin.
Aberdeen-based Respol Sinopec UK appoints new chief operating officer
Aberdeen-based Repsol Sinopec UK has appointed a new chief operating officer, Peter Medlam will take on the role at the start of next month.
Sinopec posts record first-half profits on rising oil prices
Sinopec posted record first-half profits as higher global oil and gas prices outweighed a mixed market for fuel in China.
INEOS and SINOPEC ink three deals worth $7bn
INEOS and SINOPEC have signed three back-to-back deals worth a combined $7 billion (£5.8bn) which are expected to generate a combined turnover of around $10bn from 7 million tonnes of capacity.
China in advanced talks with Qatar for gas stakes worth billions
China’s energy majors are in advanced discussions to invest billions of dollars in Qatar’s massive liquefied natural gas (LNG) expansion project.
Sonatrach signs Sinopec deal, launches pipeline monitoring
Sonatrach has signed a production-sharing contract (PSC) with Sinopec on the Zarzaitine concession, in the Illizi Basin.
China energy giants in talks for Shell’s Russian gas stake
China’s key state-run energy companies are in talks with Shell to buy its stake in a major Russian gas export project, according to people with knowledge of the matter.
Mozambique pre-qualifies 12 companies for 6th bid round
Instituto Nacional de Petroleo (INP) has approved 12 of the 13 companies for pre-qualification in its sixth licence round.
BP courts Chinese and Indian energy majors in bid to offload Russia assets
BP has reached out to state-backed firms in Asia and the Middle East as it searches for a way to offload its Russian assets.
China oil giant plans record $31bn spend on energy security push
Sinopec will spend record amounts this year to increase oil and gas drilling as China aims to bolster its energy security and insulate itself from volatile global commodity markets. Significantly, the news comes as the Chinese giant pauses new investment in Russia projects over sanctions risk.
China starts up world’s largest green hydrogen plant
Chinese chemical producer Baofeng has started production from the world’s largest green hydrogen plant in the Chinese region of Ningxia raising global installed electrolyzer capacity by 50%. The news highlights how China is beating the world on climate technologies.
China’s Sinopec gets maiden LNG under new Qatari deal
China's state-owned Sinopec reported yesterday that it had received its first liquefied natural gas (LNG) cargo as part of a new supply contract with Qatar Energy.
China’s Sinopec floods LNG spot market with cargoes for 2022
A top Chinese liquefied natural gas (LNG) importer is offering to sell dozens of spot cargoes this year, indicating the world’s biggest buyer is well-stocked.
Repsol Sinopec to dish out major wells contract for Fulmar decommissioning
North Sea operator Repsol Sinopec Resources UK (RSRUK) is expected to put a major decommissioning contract for its Fulmar field out to tender next week.
Signing new PSC unlocks Egypt investments for APA-Sinopec
The APA-Sinopec joint venture have reached a new production-sharing contract (PSC) in Egypt, which will see more drilling carried out – and more cash returned to the companies.
China’s Sinopec signs up for more US LNG
US liquefied natural gas (LNG) developer Venture Global LNG has signed a trio of supply deals with China’s Sinopec. Significantly, the sales contracts will more than double China’s imports of LNG from the US.
Sonangol farm-out plans disappoint
Results from Sonangol’s farm-out plans have been a “disappointment”, Welligence Energy Analytics has reported.
China’s NOCs to spend $120bn on drilling in effort to cut oil imports
China’s national oil companies, CNPC, CNOOC, and Sinopec, are expected to spend over $120 billion on drilling and well services by 2025 to help meet rising domestic oil and gas demand. With 118,000 wells estimated to be drilled in China, analysts at Rystad Energy reckon there will be significant opportunities for innovative suppliers.
China begins winter gas buying spree at the worst possible time
China is escalating its purchases of liquefied natural gas (LNG) for the winter, exacerbating a global supply shortage and leaving less fuel for energy-parched Europe.
Sinopec makes another big gas find in Sichuan basin
China’s Sinopec has discovered another 34.029 billion cubic metres (cm) of gas reserves at the Zhongjiang field in the Sichuan basin. Total gas reserves in the basin now stand at 106.1 billion cm, said the Chinese national oil company.