SZ Energy News: Industry News, Stories Analysis and Editorial
Get Free SZ’s Newsletter
News2-shale gas
Get SZ's China industry news in your inbox each day. It's free. Subscribe Today.
Industry Headlines
[Sept. 30, 2014] will stop updating during Oct 1st to 7th.
[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.
China Exploration
[Oct. 24, 2014]  According to the 2014 BP Statistical Energy Survey, Equatorial Guinea and Gabon had combined proven oil and gas reserves of 3.7bn barrels. That’s roughly equivalent to the reserve base of Egypt, or around 700m in excess of the United Kingdom’s. It’s hardl
[Oct. 24, 2014]  InterMoor, an Acteon company, has completed two major offshore projects for China Offshore Oil Engineering Corporation (COOEC) with support from Acteon sister companies in the Panyu and Enping fields, Pearl River Mouth basin, South China Sea.To extend the
[Oct. 24, 2014]  Cnooc Ltd. (883) is sizing up the potential for oil exploration in Norway’s Arctic as China’s biggest offshore producer ignores a freeze in the two countries’ relations since the 2010 Nobel Peace Prize.The state-owned Chinese company and
China Refining
[Oct. 24, 2014]  China’s total crude supply exceeded refinery throughput in September, implying 665,000 b/d of crude was added to domestic storage, according to Platts calculations Wednesday based on government data.The stockbuild last month was more than double the Augus
[Oct. 24, 2014]  China is finding oil supplies 14,000 miles away, aided by the global rout in prices that’s left producers vying for new markets.PetroChina Co. said it bought Colombian crude for a northern refinery for the first time because it was good value. The t
[Oct. 24, 2014]  The current situation with oil prices has become a big problem for the majority of members of the oil market. The decline in prices jeopardized even shale projects in the United States.  Venezuelan officials said that the nation’s economy was in dang
China Biofuels, Green Energy
[Oct. 24, 2014]  Two years ago, a Boeing 787 Dreamliner became the first biofuel-powered aircraft to cross the Pacific Ocean. It was actually running on a biofuel/regular jet fuel mix, with the biofuel derived mainly from used cooking oil. Now, in the interest of ensuring
[Oct. 23, 2014]  Boeing and Commercial Aircraft Corp. of China (COMAC) opened a demonstration facility that will turn waste cooking oil, or "gutter oil," into sustainable aviation biofuel on Wednesday.Boeing and COMAC are sponsoring the China-U.S. Aviation Biofu
[Oct. 23, 2014]  China has opened a demonstration facility converting waste cooking oil, or gutter oil, into sustainable aviation biofuel in a project sponsored by Boeing and Commercial Aircraft Crop of China (COMAC), Boeing announced Wednesday."Strong and continuing
China Gas , LNG / LPG
[Oct. 24, 2014]  The University of Calgary has partnered with a major Chinese oil and gas company to establish a collaborative energy research, education and training site in Beijing - the first such facility in China for a university anywhere in the world.An official agr
[Oct. 24, 2014]  NEA vice-director Zhang Yuqing said the rise would represent an increase of up to 1.5bn m3 compared to this year, the state-run Xinhua News Agency reported.According to Xinhua, Zhang told a workshop in Beijing that shale gas production, in which gas is ex
[Oct. 24, 2014]  Disagreement over the size of China’s shale gas reserves and a poor understanding of its shale deposits have disrupted Chinese efforts to extract unconventional gas, a government researcher from a state thinktank said on Wednesday.Scepticism over
China Pipelines
[Oct. 23, 2014]  Berdymukhamedov went on adding that the construction of the fourth - D branch of the Turkmenistan-China gas pipeline is supposed to be accomplished in 2016.The China National Petroleum Corporation (CNPC) has been purchasing gas from the Central Asia since
[Oct. 22, 2014]  The construction of the 4th branch (D) of the Turkmenistan-China gas pipeline is planned to be completed in 2016, Turkmen President Gurbanguly Berdimuhamedov said Oct. 21.President Berdimuhamedov made the remarks while delivering a speech at a meeting of
[Oct. 15, 2014]  A contract on gas supplies to China on the eastern route came into effect on October 13 after the intergovernmental agreement was signed, Gazprom CEO Alexei Miller said on Monday. “It’s today that the agreement on gas supplies, the agreement o
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
[Oct. 24, 2014]  This report has introduced Ultra High Molecular Weight Polyethylene(UHMWPE) basic information included Ultra High Molecular Weight Polyethylene(UHMWPE) definition classification application industry chain structure industry overview. 2014 Deep Resear
[Oct. 24, 2014]  China’s coal industry is embracing expensive new technologies to help defend its large share of the energy mix against competing sources – particularly gas.China produces and consumes almost as much coal as the rest of the world combined, but
[Oct. 24, 2014]  Thanks to its advanced valve technology, Metso has secured a large order for the coal-to-hydrogen revamping project for the oil quality upgrade by Sinopec’s Jiujiang refinery in Eastern China.With the expansion of coal gasification in recent years, Metso’
China Commodities
[Oct. 21, 2014]  The Dubai Mercantile Exchange and the fledgling Shanghai International Energy Exchange on Monday announced a deal to cooperate on a much-needed new Asian benchmark crude oil futures contract.But Chinese authorities have not yet approved the Shanghai crude
[Oct. 13, 2014]  China’s crude oil imports in September rose 7.4% year on year to 27.58 million mt or an average 6.74 million b/d, the second highest on record, preliminary data released Monday by the General Administration of Customs showed. Crude imports were last highe
[Sept. 22, 2014]  Major Chinese oil company Sinopec Group on Thursday said it has taken over 67.5 percent of the A-shares of drilling equipment maker Kingdream.Sinopec has agreed for Shenzhen-listed Kingdream Public Limited Company to raise funds through private offerin
China Finance & Acquisition
[Oct. 21, 2014]   Sinopec Yizheng Chemical Fibre Co Ltd Says asset restructuring plan gets government approval   (  2014-10-21)
[Oct. 21, 2014]  The Dubai Mercantile Exchange and the fledgling Shanghai International Energy Exchange on Monday announced a deal to cooperate on a much-needed new Asian benchmark crude oil futures contract.But Chinese authorities have not yet approved the Shanghai crude
[Oct. 17, 2014]  Crude futures slid on Thursday after data revealed U.S. inventories rose more than markets were expecting last week, while soft Chinese inflation figures softened the commodity as well by stoking concerns that global supply far outstrips demand.Crude fall
China Govt & Regulatory
[Oct. 13, 2014]  Raft of deals expected to be inked in MoscowChina and Russia are likely to sign up to 50 agreements on energy, finance, aerospace, railways and other fields, as Premier Li Keqiang arrived in Moscow on Sunday to seek long-term, stable and sustainable coope
[Oct. 10, 2014]  There is no reason for China to join Western countries in the "war" against the Islamic State group no matter what the Western media say, because it has a far smaller stake than the West in the Middle East. The Western media say China should joi
[Oct. 10, 2014]  A lawsuit accusing China’s largest oil refiner of muscling a start-up out of the market has turned a spotlight on the country’s biodiesel policy, once trumpeted as a way to cut dependence on imported crude oil.China is the world’s sixth-
Contact SZ
101,No. 19, Lane 111, Fudu Rd
Shanghai, 201100, China
Tel: (86 21) 54383583
ICP 07002695