China
To meet the Malaysia oil & gas production targets, Hess and Petronas have decided to speed up the development of the Kamelia and Belud oil fields. On Kamelia in the North Malay Bassin, Hess has awarded a letter of Intend to Emas Offshore Production & Construction (EOCL) to charter a FPSO for a first period of […]
With more than $75 billion Capital Expenditure to be invested in drilling rigs in the next 5 years, the pipeline of business opportunities in drilling rigs has never been so loaded according to Upstream, the Norwegian Oil & Gas newspaper. From their well documented analysis published in March about the drilling rigs, Upstream explains how this industry should break another historic […]
Arkema, the French leading petrochemical company, and Jacobs Engineering have signed 4 contracts for new PVC projects in China. These PVC production facilities should be located in Hefei, Golmud, Etuoke Banner and Wu Lan Cha Bu, China. They will represent 4 million t/y capacity based on Arkema PVC licenses. In these contracts Arkema will provide their proprietary PVC suspension […]
According to an interview of Mr Fu Chengyu, who became chairman of Sinopec‘s parent in April, to Bloomberg, Sinopec is considering to sell its chemical assets in the next five years in order to finance its overseas development. Benchmarking the Majors like ExxonMobil or Shell, Sinopec wants to balance it Upstream activities and Downstream business. With profitability […]
Total joins Kuwait Petroleum Corp. (KPC) represented by its wholly-owned subsidiaries Kuwait Petroleum International (KPI) and Petrochemicals Industries Co. (PIC) in the Joined Venture with Sinopec for this $9 billion “Refinery” and “Petrochemical” complex at Zhanjiang, in China’s southern Guangdong province. In fact Total took the opportunity to substitute Shell which had pulled out of […]
After benchmarking the USA who should become a net gas exporter in 2012 for the first time in their history, China has learnt the lesson very fast and decided to develop their reserves of shale gas on fast track to reduce their energy dependency. The fact is that China hosts 19% of the global reserves of shale […]
Definition: “Shale gas” is the name given to natural gas accumulation is locked in tiny bubble-like pockets within layered sedimentary rock such as shale. Comment: “Shale gas” is usually found in compact, low-permeability rocks deep beneath the surface. Reserves of this gas are very substantial and well distributed over the globe: they are estimated to represent […]
In the Bohai bay of the Liaoning Province, in the northeast of China, the China National Offshore Oil Corporation (CNOOC), started production of very heavy crude oil from the Suizhong 36-1 offshore field in 1993. The second phase came on stream in year 2000. Now CNOOC announced to proceed to a revamping of the existing […]
