Cnpc News

The third and the last train of the Arctic LNG 2 project in Russia has been put on hold but the second train is likely to be installed, the head of stakeholder TotalEnergies' said.The liquefied natural gas (LNG) project in the Russian Arctic has faced challenges from U.S. sanctions imposed on the project last November over the conflict in Ukraine, and subsequent force majeures by shareholders.At the end of 2023 Arctic LNG 2 started tentative production at its first train, which is yet to deliver a first cargo.

Foreign shareholders suspended participation in the Arctic LNG 2 project due to sanctions, renouncing their responsibilities for financing and for offtake contracts for the new Russian liquefied natural gas (LNG) plant, the daily Kommersant reported on Monday.The project, seen as a key element in Russia's drive to boost its LNG global market share to 20% by 2030 from 8%, was already facing difficulties due to U.S. sanctions over the conflict in Ukraine and a lack of gas carriers.China's state oil majors CNOOC  and China National Petroleum Corp (CNPC) each have a 10% stake in the project…

Russia is hoping its shipments of liquefied natural gas (LNG) will offset a sharp fall in pipeline gas exports to Europe, but a shortage of gas tankers and sanctions hold back its plans, analysts and industry sources said.Russia wants to boost its share of the LNG market to 20% by 2030 from 8% now, but a force majeure declaration by top producer Novatek over LNG supplies from its future Arctic LNG 2 project due to sanctions shows the hurdles it faces.Novatek's announcement comes after the United States last month imposed sanctions on Arctic LNG 2…

Bangladesh started in recent days a large crude oil receiving and offloading facility built by China that allows the south Asian oil importer to significantly reduce the cost of shipping in crude oil.The single-point mooring facility at Chattogram port last Sunday offloaded 82,000 tons (about 600,000 barrels) of crude oil from a 100,000-ton tanker, said an official with state-run Bangladesh Petroleum Corp (BPC).The project is majority-funded by the Chinese government and build by a unit of Chinese state oil major CNPC, said the BPC official who declined to be named as he's not authorized to sp

Japan will make sure its energy supplies are not affected by sanctions the United States recently imposed on the Arctic LNG 2 project in Russia in which it has a stake, Industry Minister Yasutoshi Nishimura said on Tuesday.Japan, the world's second-largest liquefied natural gas (LNG) buyer, relies on LNG as a transition fuel before it reaches carbon neutrality in 2050, and has supply contracts and stakes in projects globally to guarantee imports.The Arctic LNG 2 project is to be launched next month…

The Italian oil and gas company Eni, the operator of the the Coral South project offshore Mozambique, said Monday that the first shipment of LNG produced from the Coral gas field, in the ultra-deep waters of the Rovuma Basin, had departed from the Coral Sul FLNG facility.The Coral Sul is Mozambique's first LNG project and first floating LNG facility ever deployed in the deep waters of the African continent.Built by Samsung Heavy Industries in South Korea, the Coral Sul FLNG unit is 432 meters long and 66 meters wide…

Heavy lift shipping and offshore transport and installation contractor Jumbo Offshore reports it has executed the transport and installation of a torpedo pile mooring system, including mooring for flexible risers, umbilical for the Libra Consortium's Guanabara floating production storage and offloading unit (FPSO). While this type of installation previously required the mobilization of up to three anchor handling tugs, Jumbo carried out the entire contract using only its J-class offshore installation vessel Fairplayer…

China has entrusted a defense-focussed state firm to ship millions of barrels of Venezuelan oil despite U.S. sanctions, part of a deal to offset Caracas' billions of dollars of debt to Beijing, according to three sources and tanker tracking data. China National Petroleum Corp (CNPC) stopped carrying Venezuelan oil in August 2019 after Washington tightened sanctions on the South American exporter. But it continued to find its way to China via traders who rebranded the fuel as Malaysian, Reuters has reported.

Italian oil and gas company Eni said Saturday that the first hydrocarbons had been introduced  from the Coral South reservoir offshore Mozambique into the Coral South FLNG unit.Eni operates the offshore Area 4 where the Coral South FLNG is located. Eni's partners are ExxonMobil, CNPC, GALP, KOGAS, and ENH.Coral South, also known as Coral Sul, FLNG will now be ready to achieve its first LNG cargo in the second half of 2022, adding Mozambique to the LNG-producing countries."Hydrocarbons introduction comes after the safe and timely conclusion of the offshore commissioning activities.

Chinese refiners are paying for Russian crude oil using cash transfers to maintain imports from Russia’s Fast East, as banks shy away from financing the oil because of sanctions, sources with knowledge of the matter said.Global oil prices have soared to their highest in a decade as banks halted financing Russian oil after the United States and other countries ramped up sanctions on Moscow following its invasion of Ukraine.Spot crude premiums and freight rates also spiked, piling on buyers’ costs.Several European and U.S.

The Guanabara FPSO has arrived at the Mero field in the Santos Basin, offshore Brazil, the Brazilian state-run oil company Petrobras has informed.The FPSO, also known as Mero 1, will be the first 'definitive' oil production system at the Mero field, the third largest pre-salt field behind Búzios and Tupi. MODEC is responsible for the engineering, procurement, construction, mobilization, installation and operation of the FPSO, including topsides processing equipment as well as hull and marine systems.

Singapore-based offshore vessel provider Nortrans has secured a flotel contract with TechnipEnergies to support the hook-up of the giant Coral Sul FLNG unit that has recently arrived in Mozambique after a journey from South Korea where it was built.Nortrans said that the flotel contract had a potential total period of up to 200 days including options. The contract is scheduled to start in February 2022.Nortrans will deploy our DP3 500 pax flotel - CSS Temis for the project and we will be accommodating up to 400 client personnel on board on a daily basis during the project period. Financial details were not disclosed."Our company's strict Covid procedures are in place to protect our crew and client personnel to keep a safe and Covid free environment onboard at all time…

China more than halved the volume of export quotas for refined fuel, predominantly gasoline, diesel and aviation fuel, under the first allotment for 2022, while raising the allowances for low-sulphur fuel oil by 30%, industry sources said on Tuesday.The deep cuts to refined fuel, largely expected by the market, was in line with the Chinese government's recent policy to curb excessive domestic refinery production amid a broad plan to reduce carbon emissions, the sources said.Quotas for refined fuel exports totalled 13 million tonnes under the batch…

Italian energy industry giant Eni said Monday it had held the naming and sail away ceremony for the Coral-Sul FLNG unit, the first floating LNG facility ever to be deployed in the deep waters of the African continent. The event took place at Samsung Heavy Industries shipyard in Geoje, South Korea, in the presence of Filipe Jacinto Nyusi, President of the Republic of Mozambique, and H.E. Moon Jae-in, President of the Republic of Korea.The FLNG, which is part of the Coral South Project, will be now towed and moored at its operating site in the Rovuma basin offshore Mozambique.

China has issued new export quotas for the export of low-sulphur fuel oil (LSFO) used to power ships and for other refined fuels such as gasoline and diesel for the rest of 2021, according to a trading source and document reviewed by Reuters on Thursday.Under the new quotas, 1 million tonnes of LSFO can be exported while 1.579 million tonnes of refined fuels can be shipped, according to the source and the document issued by the Ministry of Commerce.The new issue brings this year’s total permits for refined fuel exports to about 38.6 million tonnes…

Claudio Descalzi, CEO of the Italian oil and gas giant Eni on Friday met with Filipe Nyusi, President of Mozambique, where Eni is working to develop giant offshore gas reserves using a floating LNG unit.Descalzi updated President Nyusi on the Eni-led Coral South Project, which will put in production Mozambique’s gas resources. "The project is on track and the Coral Sul FLNG, being finalized in South Korea, is set to become the world’s first ultra-deepwater FLNG and the first LNG producer in Mozambique…

Russian gas company Novatek has signed heads of agreement with Glencore for the long-term supply of LNG from the Arctic LNG 2 project.The agreement, signed Wednesday at Saint-Petersburg International Economic Forum, established the key commercial terms for the long-term supply of more than of 0.5 million tons of LNG per year from the Arctic LNG 2 project. The LNG will be delivered to a number of locations in East Asia, Novatek said.Leonid Mikhelson, NOVATEK's Chairman of the Management…

Chinese state-run shipping giant COSCO Shipping Development Co said on Tuesday that it holds a 3.74% stake in Bank of Kunlun, which has acted as a key official channel for money flows between China and Iran.The statement was made by the shipping firm on the e-interview platform of the Shanghai Stock Exchange, in response to an investor question on whether it held a stake in the bank.COSCO did not elaborate on when it acquired its holding, although the bank had disclosed the shipping firms stake in its 2019 annual report.COSCO’s comments come days after China and Iran, both subject to U.S.

Venezuela has resumed direct shipments of oil to China after U.S. sanctions sent the trade underground for more than a year, according to Refinitiv Eikon vessel-tracking data and internal documents from state company Petroleos de Venezuela (PDVSA).Chinese state companies China National Petroleum Corp (CNPC) and PetroChina - long among PDVSA's top customers - stopped loading crude and fuel at Venezuelan ports in August 2019 after Washington extended its sanctions on PDVSA to include any companies trading with the Venezuelan state firm.The imposition of the sanctions was part of a push by the Trump administration to oust Venezuelan President Nicolas Maduro…

Russian gas producer Novatek has started ship-to-ship loadings of liquefied natural gas from the Yamal LNG project near the northern port of Murmansk, shifting away from Norway, ship tracking data at Refinitiv Eikon showed on Monday.The company previously conducted such operations at a terminal at the Norwegian Arctic port of Honningsvag. However, Oslo has faced pressure from the United States to stop Novatek from using a Norwegian port, with Washington arguing that such operations…

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has signed shipbuilding contracts with Russia's Sovcomflot and Japan's Mitsui O.S.K. Lines for the construction of six icebreaking Arc7 liquefied natural gas (LNG) carriers based on a newly developed design.The new ships will be the second generation of vessels engineered to transport LNG from the Russian Arctic, with special emphasis on year-round operation in the eastern sector of the Northern Sea Route.DSME…

The last of 13 topside modules has been lifted and installed aboard Eni's Mozambique-bound Coral-Sul FLNG facility, being built by Samsung Heavy Industries in South Korea.The lifting of the module marks the end of the onshore-modules fabrication campaign configuring the entire gas treatment and liquefaction plant"The massive 70 thousand tons topside was lifted onto the hull one module at a time and is now complete. However, construction continues with integration and commissioning activities…

Italian oil and gas company Eni has chartered two Vroon platform supply vessels to support its offshore drilling project in Mozambique.Vroon said this week that the contract with ENI was on a long-term drilling project, with Vroon providing platform-supply vessels VOS Princess and VOS Principle in support of the drillship SAIPEM 12000.ENI’s campaign will resume in the second half of December, after a suspension due to the COVID-19 pandemic. The project is scheduled to last around…