News-energychinaforum
SZ Energy News: Industry News, Stories Analysis and Editorial
Get Free SZ’s Newsletter
News2-shale gas
NEWS ALERTS
Get SZ's China industry news in your inbox each day. It's free. Subscribe Today.
Industry Headlines
[Aug. 7, 2014]  China has halved the quantum of shale gas it expects to produce by 2020 after early exploration efforts to unlock the unconventional fuel proved challenging, according to an industry website and a government source.China, believed to hold the world’s l
[Jul. 14, 2014]  HOW does conventional wisdom – i.e. the opinion of the majority – become conventional wisdom? This is a subject that the blog pondered over the last few days as it wandered around Euro Disney. Unfortunately, Mickey, Donald and his pals weren’t able to give us an answer. The reason why we dwelled so much on this subject was because of our post last week on coal-to-olefins (CTO) in China. We feel, like many others perhaps should feel, that we might have have been suckered-in to believing that water was the Achilles Heel of the process. If water is not really a challenge, and much of the planned new US supply come on-stream towards the end of this decade, here is a scenario: ?US petrochemicals companies suffer severe oversupply distress, which will either be short term or long term, depending on your view of the global economy. ?This could enable China to buy-up distressed US petrochemicals assets. It has ample reserves to go on a buying spree, especially if it reduces its holdings of US Treasuries. Back to our main point about conventional wisdom. Perhaps some of those at the top are happy to continue to peddle the CTO water challenge fallacy because they have pinned their career success on huge ethane-based capacity additions. When things go wrong, they might have already retired or moved on to other positions and so there is nothing in it for them to rock the boat. Less senior people worry that if they, too, rock the boat by expressing their doubts, on either CTO supply or more importantly the macro-economic fundamentals, they will be committing career suicide. It is easier to follow the herd and say, “we didn’t see this coming” when things go wrong, rather than be an outlier. Here is a reminder, from this excellent article by my colleague Nigel Davis, on the scale of what’s being planned in the US: ?As many as 11 new crackers could be built in the US before the end of the decade. Add the capacity from eight expansions for existing facilities announced to date and the potential capacity increase is 51% or 13.9m tonnes. US polyethylene capacity could rise by 47%, or 7.1m tonnes. ?Even if we tinker with some of the announced US cracker on-stream dates (see the above estimate, from ICIS Consulting, of actual, as opposed to announced, start-up timings), the big slug of ethylene capacity – as much as 7m tonnes – would be available after 2017. Tellingly, the ‘build-out’ – between 2017 and 2020 – is far above that in past ethylene cycles.
[Jul. 14, 2014]  The US and China signed new agreements that are expected to increase co-operation on energy issues.
China Exploration
[Sept. 19, 2014]   The water levels of wells in Zhanggaotu, a village in Jingbian county in northwestern China’s Shaanxi province, have now plunged by more than 10 meters and all the inland lakes in the village have also run dry.  Village residents are suffe
[Sept. 19, 2014]   China 1st Shale Gas Field Highly Productive: Ministry It’s been confirmed that China’s first shale gas field has over 100 billion cubic meters of proven reserves. The Ministry of Land and Resources says the field, which is located in South
[Sept. 19, 2014]   China National Offshore Oil Corp. has plenty to get excited about these days. After years of touting the unexplored and hidden depths of the South China Sea, the company has finally scored a coup with its first independent deepwater discovery. 
China Refining
[Sept. 19, 2014]   At least 3 million barrels of Iraqi Kurdish oil are on ships heading to Asia, with trade sources naming China as a possible destination as the autonomous region expands efforts to establish independent oil sales in defiance of Baghdad. Two sour
[Sept. 19, 2014]   Crude oil fell on Thursday, pressured by ample supply, concerns about demand growth and a stronger US dollar.Brent prices slid sharply around 11:34 a.m. EDT (1534 GMT), dropping 60 cents a barrel within 13 minutes, while US crude tumbled 90 cents ov
[Sept. 19, 2014]    Regional refineries set to benefit from import rights as part of industry reform More private firms are expected to be granted the right to import crude oil in the near future, after privately-owned Guanghui Energy Co announced on August
China Biofuels, Green Energy
[Jul. 16, 2014]  China National Petroleum Corporation (CNPC) announced Tuesday that the petroleum drilling and exploration operation of Zhongjiannan Project in the South China Sea was smoothly completed on schedule July 15 with oil and gas shows found. In accordance
[May 22, 2014]  Although exact details are unclear, Russian and Chinese media outlets are reporting that ten years of negotiations surrounding the sale of natural gas from Siberia to China have finally concluded at the tail end of a state visit by President Vladimir Puti
[May 19, 2014]  Western efforts to punish Russia for its military adventures in eastern Ukraine look set to backfire in spectacular fashion.This coming week, Russian President Vladimir Putin is poised to unveil a very big prize: access to the world’s largest, fas
China Gas , LNG / LPG
[Sept. 19, 2014]   Sinopec and PetroChina , China’s largest oil and gas producers, plan to increase shale gas output by 40%/year to meet the country’s production target.SNP plans to invest 21.5B yuan ($3.5B) in shale gas drilling and expects to produce as much
[Sept. 19, 2014]   In order to meeting the country’s production target of shale gas, China Petroleum & Chemical Corp. is planning to invest $3.5 billion in shale gas drilling in hopes of producing 3.5 billion cubic meters by 2015, while PetroChina will in
[Sept. 19, 2014]    China is set to begin producing ’flammable ice’, an unconventional untapped energy source found in permafrost and ocean sediment.According to the Xinhua news agency, the nation will begin commercial production of gas hydrate by 2030.Gas hydrat
China Pipelines
[Sept. 16, 2014]   v Chinese President Xi Jinping left Dushanbe for the Maldives on Sunday, concluding a four-day trip to Tajikistan that has significantly boosted bilateral ties and injected fresh vigor into regional cooperation within the framework of the Shang
[Sept. 16, 2014]   President Xi Jinping and Tajikistan’s President Emomali Rahmon of Tajikistan saw the start of work on the China-Central Asia gas pipeline’s Line D construction on Saturday in Tajikistan.  [Special coverage] The project is a major stage of
[Sept. 16, 2014]   Construction work on the fourth line of the Central Asia-China gas pipeline network started in Tajikistan on Saturday, China National Petroleum Corp (CNPC) said on its website Monday. China’s President Xi Jinping and Tajikistan’s President Emom
China Terminals & Storage
[Aug. 20, 2014]   The Chinese government has rejecting an environmental impact assessment for an $84 million commercial crude oil storage base planned by Sinopec Corp citing insufficient measures to cut potential pollution.The proposed second phase of Baishawan com
[Aug. 15, 2014]  Singapore’s Universal Terminal, backed by China’s state oil giant PetroChina , plans to raise as much as S$1 billion ($800 million) in an initial public offering of units of a business trust, two sources with direct knowledge of the matter told Reuters
[Mar. 28, 2014]  New loan issuance affects the oil tanker shipping industry One of the key indicators that grabs analysts’ attention is China’s new loans. Issuing new loans is an important way of stimulating economic growth, as it increases demand. However, ex
China Petrochemical
[Sept. 18, 2014]   Oil and gas giant China Petrochemical Corp has announced its second asset injection deal in a week, injecting its oil machinery business into its Shenzhen-listed drilling equipment and chemicals manufacturing unit, Kingdream, for 1.6 billion yuan (H
[Sept. 17, 2014]   Sinopec is adding chemicals to fire. The state energy giant, officially known as China Petroleum  and Chemical, already disappointed investors by selling part of its gas-station arm for less than expected, thereby dashing hopes that this so-cal
[Sept. 12, 2014]   China Shipping Development, the country’s largest tanker operator by fleet size, is acquiring a 20 per cent stake in a mainland tanker company for HK$1 billion from parent China Shipping (Group) in a bid to capitalise on the growth of hauling
China Commodities
[Sept. 17, 2014]   MAN Diesel & Turbo said Monday it has received an order to supply its Dual-Fuel Diesel Electric (DFDE) propulsion solution for four liquefied natural gas (LNG) carriers (LNGCs) that will be constructed at Hudong-Zhonghua Shipyard in Shanghai, Ch
[Sept. 17, 2014]   China’s quest for clean air will be the main driver of growth for Westport Innovations Inc in the next two years, creating new demand for engines that run on natural gas, the company’s chief executive said. Westport, yet to turn a profit since
[Sept. 17, 2014]   TABLE-China retail gasoline, diesel prices since 2009 China will cut the retail price of gasoline by 140 yuan($22.8) per tonne and diesel by 135 yuan from Wednesday, the NationalDevelopment and Reform Commission said on Tuesday.   &nb
China Finance & Acquisition
[Sept. 19, 2014]   Refiner takes the lead in pioneering the opening-up of State-owned enterprises Oil and natural gas giant China Petroleum and Chemical Corp (Sinopec) is leading the country’s latest round of State-owned enterprise reform as it explores an innova
[Sept. 19, 2014]   China’s landfill projects in the South China Sea, though unpopular with its neighbors and the U.S., should boost Chinese state oil drillers Cnooc Ltd. (CEO_)  and PetroChina (PTR_) , both of which trade in the U.S., because an expansion or stre
[Sept. 18, 2014]     Harvest Fund Management Co. Ltd. unveiled a new closed-end fund to the public on September 16 that will mainly invest in the sales subsidiary of China Petroleum & Chemical Corp. (Sinopec). Sinopec said on September 14 that it ha
China Govt & Regulatory
[Sept. 19, 2014]    The 2014 Global Competitiveness and Sustaining Company Growth Event and the "2014 Global Competitiveness Brands - Top 10 from China" were held on September 17, Eastern Daylight Time. Since 2009, this is the fifth consecutive time Sin
[Sept. 19, 2014]   Refiner takes the lead in pioneering the opening-up of State-owned enterprises Oil and natural gas giant China Petroleum and Chemical Corp (Sinopec) is leading the country’s latest round of State-owned enterprise reform as it explores an innova
[Sept. 16, 2014]   Sinopec just gave us a picture of what it means when it talks about reforms. On Sunday night, the state-owned oil behemoth, whose full name is China Petroleum & Chemical Corp., released a list of 25 investors set to purchase a total of near
Contact SZ
101,No. 19, Lane 111, Fudu Rd
Shanghai, 201100, China
Tel: (86 21) 54383583
Email: info@szenergy.biz
ICP 07002695