AVEVA Strategic Initiative in China
AVEVA has restructured its Chinese operations into two operational divisions. The move will dedicate AVEVA’s VANTAGE engineering solutions and personnel to the unique requirements associated with each of the industry sectors; delivering solutions, support and consultancy more effectively. The two divisions will be run from AVEVA's Asia Pacific operation and headed by: Ms Liu Xiao Bin, Vice President, for the Guangzhou-based China Process and Power Division; and Ms Zhou Chun, Vice President, for the Shanghai-based China Marine Division. The China Marine Division will be responsible for serving all aspects of marine engineering and construction (including both shipbuilding and offshore facilities)…
CNPC, Cheniere Pact for LNG
China’s state-owned oil company, China National Petroleum Corporation (CNPC), and U.S. independent energy company Cheniere Energy have signed a Memorandum of Understanding (MoU) for long-term sales and purchases of liquefied natural gas (LNG), Reuters reported. The report quoted U.S. State Department saying that the deal between the two companies was signed during president Trump’s first state visit to China. Neither companies disclosed details of the transaction. According to CNPC…
Port Corpus Christi to benefit from LNG partnership with China
Port Corpus Christi officials are confident that the agreement signed between Cheniere Energy of Houston and China National Petroleum Corporation (CNPC) will bring increased traffic to the port, according to the San Antonio Business Journal. Officials from Cheniere accompanies President Trump on his tour to China and signed a Memorandum of Understanding with the Chinese company. CNPC is the largest gas and oil supplier and producer in China and is also one of the largest providers of oilfied services.
CNPC, Eni Sign LNG Deal
China National Petroleum Corporation (CNPC) and Italy’s Eni signed a cooperation agreement that includes assessing opportunities in the gas and LNG value chain. "CNPC and Eni signed cooperation agreement today in order to cooperate in oil & gas exploration and production, gas and LNG value chain opportunities, trading and logistics opportunities, refining and petrochemicals. The partnership will regard both China and overseas activities," said a statement from the company. The signing took place in Rome at Eni's headquarters during a meeting between the Chairman of CNPC…
MOL to Launch Arctic Ocean LNG Route
Japan's Mitsui OSK Lines Ltd (MOL) said on Wednesday that it will start transporting liquefied natural gas (LNG) through the Arctic Ocean in 2018 using icebreaker LNG tankers. MOL, with its joint venture partner China Shipping, has ordered three icebreaker LNG carriers from South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd. The new tankers will deliver LNG to Europe and Asia from a gas plant to be built on the Yamal Peninsula in northern Russia by Russia's second-largest gas producer Novatek, France's Total and China National Petroleum Corporation.
Teekay Sign Yamal Charter for Newbuild
Teekay LNG Partners L.P. has entered into a 15-year time-charter contract with the Yamal LNG project, sponsored by Novatek OAO, Total SA, China National Petroleum Corporation and Silk Road Fund, to provide Yamal LNG with conventional liquefied natural gas (LNG) transportation services. Yamal LNG is scheduled to commence production in 2017. The fixed-rate time-charter contract will be serviced by one of Teekay LNG's previously unchartered 174,000 cubic meter MEGI LNG carrier newbuildings that is scheduled for delivery in early-2019. "We are pleased that our commercial team has secured this new 15-year charter contract which expands our service offering to the now fully-financed Yamal LNG project and reduces our uncommitted newbuildings to only one vessel…
CNPC Eyes Myanmar for LNG Terminal
China's biggest oil and gas company China National Petroleum Corp.(CNPC ) has expressed interested in a terminal in Kyaukphyu in Myanmar to receive imported Liquefied natural gas (LNG). China National Petroleum Corporation has proposed developing a terminal in Kyaukphyu to receive imported LNG, local media quoted an official from state-owned Myanma Oil and Gas Enterprise. He said that companies from China, Korea, Japan, Norway, Singapore and Thailand have already proposed investment into LNG development projects in Myanmar, and feasibility studies have been completed.
China Optimistic of Finding Gas Offshore Vietnam
A Chinese oil rig whose deployment to waters claimed by Vietnam early this month triggered a rupture in ties has a good chance of finding enough gas to put the area into production, Chinese industry experts said. That would give China its first viable energy field in the disputed South China Sea, as well as make it a source of friction with Hanoi for years to come. For now, China has said nothing about the potential of the area. The first round of drilling had been completed, the rig operator said on Tuesday, without giving any results from the tapped wells.
Chinese Firms in Winning Libra Field Bid, Offshore Brazil
The Chinese firms, China National Offshore Oil Corporation ( CNOOC) and China National Petroleum Corporation (CNPC), have a 10 percent stake each, with Shell and Total taking 20 percent each, and Petrobras the remaining 40 percent share. The Libra block is located in Santos Basin ultra deep waters in the pre-salt polygon and is considered a prospect of high potential. The total extension of the area is 1,547.76 km2 and was discovered by well 2-ANP-0002ARJS, drilled in 2010. Under the rules of the auction, Petrobras had to participate in any consortium with at least a 30-percent stake, and to operate the field. The rules also called for the Brazilian government to receive a minimum 41.65 percent of the field's output…
China: Rig Not Drilling in Disputed Waters
In mid-2014, rig caused worst breakdown in ties in decades. China's Foreign Ministry said on Wednesday that a $1-billion deepwater oil rig was not drilling in disputed territory in the South China Sea, in response to a warning from Vietnam against such activity. Vietnam closely tracks the movement of the oil rig, which in mid-2014 caused the worst diplomatic breakdown between the neighbours in decades, when China parked it for 10 weeks in waters Vietnam considers its own. This week Vietnam said Beijing had steered the rig, the Haiyang Shiyou 981, into a stretch where jurisdiction is unclear. "According to what is understood, China's Haiyang Shiyou 981 drilling platform is operating in Chinese-controlled waters that are completely undisputed…
China Snow Dragon Arctic
The melting Arctic presents a geopolitical challenge and it is the last bit of unclaimed land left on our quickly heating globe. A report in the Worldcrunch analyses why China is suddenly so interested in the Arctic. China is now becoming more involved primarily because of issues related to climate change, shipping and natural resources. China will also play an important role in exploiting the region's resources. Norway's Foreign Affairs Minister Borge Brende says China's growing…
Russia & China Agree on Gas Supplies
As part of the APEC summit in Beijing, a number of documents related to the Russian-Chinese cooperation in the energy sector were signed today in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping. Alexey Miller, Chairman of the Gazprom Management Committee and Zhou Jiping, Chairman of China National Petroleum Corporation (CNPC) signed a Framework Agreement on gas supplies via the western route. In particular, the document reflects such conditions as the volume and terms of supply, the take-or-pay level, the location of the gas delivery point on the border.
Chinese Seismic Exploration Require New OBC Vessels
Complete twin-screw medium speed propulsion packages have been ordered from MAN B&W for a twin set of 65 m offshore research vessels. The twins will each be specified and equipped for specific operational tasks, i.e. seismic sourcing and seismic recording. The vessels are designated as an OBC Source Vessel and an OBC (Ocean Bottom Cable) Recorder Vessel, respectively. The design consulting company for this project is Dalian Shipbuilding Technology Research Center Co. Ltd., located in Dalian, China. Both vessels will be built by Liao Nan Shipyard, also located in Dalian, and the delivery of the first vessel is scheduled to the end of next year. Operator and owner is BGP/CNPC (China National Petroleum Corporation), with its fleet mainly based in Tanggu, Tianjin.
Chinese Seismic Exploration Require New OBC Vessels
MAN B&W Diesel has added two new reference plants to the fourstroke order book. Complete twin-screw medium speed propulsion packages have been ordered for a twin set of 65 m offshore research vessels. The twins will each be specified and equipped for their very specific operational tasks, i.e. seismic sourcing and seismic recording. The vessels are designated as an OBC Source Vessel and an OBC Recorder Vessel, respectively. The OBC abbreviation refers to ‘Ocean Bottom Cable’ and the actual seismic exploration equipment applied. The design consulting company for this project is Dalian Shipbuilding Technology Research Center Co. Ltd., located in Dalian, China.
Asia Tankers-VLCC Rates to Hold Steady
Unipec charters 20 VLCCs for West Africa, MidEast cargoes; China's oil demand to climb 3.4 pct this year - CNPC. Freight rates for very large crude carriers (VLCCs) are expected to remain stable next week as buoyant chartering activity from the Middle East is offset by the large number of supertankers available for charter, ship brokers said. "We're going to see rates holding at current levels," a European supertanker broker said on Friday. "Saudi Arabian cargoes for February loading should be out on Monday.
Power of Siberia construction launched
Yakutsk hosted today celebrations dedicated to welding the first joint of the Power of Siberia gas transmission system (GTS) meant to be a crucial element of the gas supply system being built in eastern Russia. The GTS will convey gas from the Yakutia and Irkutsk gas production centers to the Far East and China. The attendance was comprised of Russian President Vladimir Putin, Zhang Gaoli, First Vice Premier of China's State Council, Yury Trutnev, Deputy Prime Minister of the Russian Federation and Presidential Plenipotentiary Envoy to the Far Eastern Federal District…
PDVSA to Receive US Crude Cargo from BP
Venezuela's PDVSA will discharge in the coming days its first cargo of U.S. crude bought from British BP, who along with China Oil was awarded a tender to supply the state-run company with some 8 million barrels in the second quarter, traders close to the deal told Reuters on Wednesday. PDVSA, who is facing delays to load and discharge tankers at its main crude port, Jose, will receive the cargo at the neighboring island of Curacao where it operates a storage facility, according to Thomson Reuters vessel tracking data. The number of tankers waiting to load and discharge at PDVSA's Bullenbay terminal in Curacao has fallen in recent days, the data say, but it has not eased around Jose. The tanker Krymst was loaded with 500,000 barrels of West Texas Intermediate crude at the U.S.
CNOOC Signs PSC with Primeline
CNOOC Limited (NYSE: CEO, SEHK: 00883) announced that its parent company, China National Offshore Oil Corporation (CNOOC) has signed a production sharing contract (PSC) with Primeline Energy China Limited (PECL) and Primeline Petroleum Corporation (PPC) (jointly as "Primeline") for Block 33/07 in the East China Sea. Block 33/07 is located about 390 kilometers of Shanghai in the East China Sea. It covers a total area of 5877 square kilometers, with water depth of 90 meters. According to the terms of the contract, Primeline will conduct 3D seismic data survey and drill exploration wells in Block 33/07 during the exploration period, in which all expenditures incurred will be borne by Primeline.
Intellian Opens in China
Intellian, a provider of satellite communication antenna systems, announced that it has established a Chinese corporation subsidiary in Shanghai and officially started operations there to better meet local customer demand. Intellian provides products and technical support to partner companies on every continent of the world through its 10 subsidiaries based in the U.S., U.K., Netherlands, Singapore and other regions. And now it has launched an additional full-scale operating subsidiary in Shanghai…
EU Suspects Tax Fraud at China's New Gateway to Europe
European Union and Italian authorities are investigating suspected wide-scale tax fraud by Chinese criminal gangs importing goods via Greece’s largest port of Piraeus, a trade gateway between China and Europe, officials said.“The VAT is completely evaded, with enormous damage to the national tax authorities and to the community,” Fabio Botto, of the Italian Central Anti-fraud Office’s special investigative unit, said in an interview.He said the suspected scam at Piraeus, part of China’s vast Belt and Road infrastructure project…
Brightoil Reports Steady Growth in Interim Results
Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period. During the period, profit attributable to the owners of the group increased 3% year-on-year to HK$561 million. Basic earnings per share amounted to 6.41 HK cents, up 3% from a year ago. Total revenue climbed 11% from HK$40.3 billion in 1HFY2014 toHK$44.9 billion for the period as the twin-engines business model (upstream and mid-downstream businesses) enabled the group to secure steady growth amid volatile oil prices.
Devon Sells Panyu Field to China
Devon Energy Corporation, a U.S.-based oil and gas exploration, development and production company, sold its producing Panyu field located offshore China to China National Offshore Oil Corporation. China National Offshore is a state-owned oil and gas producer in China. In April, Devon Energy said it had agreed to sell its producing Panyu field located offshore China to China National Offshore for $515m. During 2009, Devon's production from the Panyu field was approximately 12 thousand barrels of oil per day.
Sovcomflot Reports “Strong Start” for Q1 2014
Russian shipping company Sovcomflot, a global top-five tanker company, reported its financial results for the first quarter of 2014. The company, which offers crude oil, refined petroleum products and liquefied gas transportation services, recorded a “strong start” with highlights as listed below. •Successful completion by SCF Group’s company, Novoship, of modernization at the Port of Sochi for 2014 Winter Olympic Games. Sergey Frank, President and CEO of OAO Sovcomflot, said, “Following five years of recession, the tanker market is showing the early signs of a long overdue recovery.