United States

Meng Meng

China's February crude imports surge 22 percent; gas imports drop from January

Mar 08 2019

SINGAPORE/BEIJING China's crude oil imports rose to the third-highest volume on record on a daily basis on increasing purchases by new private refineries, while natural gas imports eased as demand dropped amid warmer temperatures, customs data showed on Friday.

Saudi Aramco to sign China refinery deals as crown prince visits: sources

Feb 21 2019

SINGAPORE/DUBAI/BEIJING Saudi Aramco plans to sign preliminary deals to invest in two oil refining and petrochemical complexes in China during the Saudi Arabian crown prince's visit this week, sources familiar with the plans said, as Beijing seeks expanded ties with Riyadh.

Drill, China, drill: State majors step on the gas after Xi calls for energy security

Feb 01 2019

SINGAPORE/BEIJING China's state energy giants are set to raise spending on domestic drilling this year to the highest levels since 2016, focusing on adding natural gas reserves in a concerted drive to boost local supplies.

China's Sinopec reveals $687 million oil trading loss

Jan 25 2019

BEIJING/SINGAPORE Sinopec Corp said its trading unit Unipec lost 4.65 billion yuan (525.64 million pounds) on crude oil hedging in the fourth quarter, one of China's largest derivatives trading losses in nearly a decade.

UPDATE 1-China's Sinopec reveals $687 mln oil trading loss

Jan 25 2019

* Wrong calls on the market led to losses in derivatives trade

RPT-UPDATE 1-China's CNOOC boosts spending target to 5-yr high, increases domestic drilling

Jan 23 2019

* Planned 2019 spending of up to $12 bln at highest since 2014

China's CNOOC boosts spending target to 5-year high, increases domestic drilling

Jan 23 2019

BEIJING/SINGAPORE China's state-owned offshore oil and gas producer CNOOC Ltd said it is confident of achieving its spending target this year, the highest since 2014, as its responds to a call to build up the nation's petroleum output and reserves.

UPDATE 2-China's CNOOC to double domestic proven reserves, exploration work by 2025

Jan 18 2019

BEIJING/SINGAPORE, Jan 18 China National Offshore Oil Company, or CNOOC, said on Friday it aims to double its exploration activities and proven oil and gas reserves in China over the next seven years, a target that will see the state oil firm expedite capital spending.

China cuts refiners' oil import quotas with first 2019 allowances

Jan 02 2019

SINGAPORE/BEIJING China issued its first batch of crude oil import quotas for 2019 on Wednesday at a lower volume than for the same batch a year ago though expectations are for the volumes to climb later this year.

China November refinery runs rise year-on-year, but ease from record as sales slow

Dec 14 2018

BEIJING/SINGAPORE China's November refinery throughput rose from a year earlier, heading for an annual record, official data indicated on Friday, although the runs eased from highs touched in the previous two months as product inventories swelled and sales slowed.

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