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.
Sinopec
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.
Eni, Sonangol sign up Angolan acreages
Eni and Sonangol has signed production-sharing contracts (PSCs) for Blocks 27 and 28 with the Angolan regulator.
Sinopec builds China’s first large CCS project
China’s Sinopec has started building the country’s first large-scale carbon capture utilisation and storage (CCUS) project as part of its target to be carbon-neutral by 2050.
Shell’s $1bn Abadi divestment process struggles after Sinopec’s interest wanes
Shell has failed to generate any significant interest in the sales process for its share of the giant Abadi LNG project one year after the Indonesian government announced the Anglo-Dutch supermajor’s intention to divest.
TotalEnergies dishes out Tilenga work
Total E&P Uganda has signed conditional letters of award for surface facilities and drilling packages under its Tilenga project, in western Uganda.
Mobilisation and MoUs as Algeria heads to vote
Algeria will hold its legislative elections on June 12, offering a slim opportunity for change – although with concerns already around turnout and legitimacy.
McDermott, Sinopec take $2bn Tilenga job
TotalEnergies has chosen McDermott and Sinopec International Petroleum Service Corp. to carry out work Uganda’s Tilenga project.
China’s Sinopec ready to launch first green hydrogen project in 2022
State-backed Sinopec is ready to launch its first green hydrogen project in Inner Mongolia next year as part of an effort to help meet its goal of becoming China's top hydrogen company by 2025.