China

Shell signed a 5-year contract to supply PetroChina with carbon-neutral LNG using carbon credits to offset emissions from Shell’s own emission-reduction project portfolio.

Iraq’s oil minister Ihsan Abdul Jabbar said the country’s state-owned Basra Oil Co. is the likely candidate to buy ExxonMobil’s operator stake in the giant West Qurna-1 oil field.

With Chevron out of the picture, Iraq may turn to China to buy ExxonMobil’s 32.7% stake in West Qurna-1, or it may buy some or all of the stake itself to meet an end of June deadline to complete the sale.

Includes oil ports, refineries, and storage facilities; crude and refined product pipelines; coal and nuclear power plants; and EV battery factories.

Success at the Fuling gas field in southwestern China will play a major role in the country's energy agenda.

In striving to boost production of shale gas and tight oil, China is trying enhanced-hydraulic-fracturing technology and real-time data analysis in the Sichuan shale basin. In Daqing’s tight-oil fields, an alternative fracture-completion strategy and post-stimulation flowback technology has been tested.

Sinopec is moving on to Phase 2 at its Weirong shale-gas development in Sichuan province after having completed Phase 1 by drilling 56 new wells over the past year and building new infrastructure to support increased natural gas production.

China independent distributor Jiasheng Gas Co. is set to build a $380-million LNG storage and receiving facility in east China, as the country opens up to more private participation and investments surge in LNG import terminals.

Designed to be a “living” map, it focuses on the largest fixed infrastructure for crude oil and refined products such as trunk pipelines, refineries, and storage facilities.

Gasoline and diesel demand are set to increase YoY beginning in Q3 2020.