Oil prices rose Friday, helped by rising Chinese crude demand and threats of a strike in Africa's largest oil exporter, but U.S. crude still posted its biggest weekly loss in two months, Reuters reported.
West Virginia Gov. Jim Justice earlier this week was short on specifics, but showed enthusiasm for what he termed a “deathly serious” $83.7 billion China Energy investment plan for shale gas and petrochemical projects in West Virginia, the Wheeling (W.V.) News-Register newspaper reported.
China’s CAS Holdings, an investment arm of China’s Academy of Science, looks to spend $2 billion on a natural gas-to-methanol plant in the state of Washington, then shipping the fuel to Chinese factories and chemical makers, Chinese executives said.
Brazilian state-run oil company, Petrobras, said on Tuesday it signed a new $5 billion financing agreement with the China Development Bank (CDB) on Dec. 4, with maturity in 2027, Kallanish Energy learns.
China’s liquefied natural gas (LNG) imports will surge by 40% year-on-year this winter to a total 20 million tonnes, with deals estimated to be mostly done on a spot basis rather than offtake from long-term contracts, according to consulting firm Wood Mackenzie.
The board of directors of Russian oil major Rosneft approved last week a five-year crude oil supply deal with CEFC China Energy Company starting in January 2018, Rosneft said Monday in a security filing.
China Petroleum & Chemical Corp. (Sinopec) said on Tuesday it has approved development plans for its Shunbei onshore oil and gas field, in the country’s northwest region, with commercial production expected by 2020.
UK-based petrochemical giant, INEOS, said Monday it will deliver the first-ever ethane cargo from U.S. shale gas into China in 2019, following a long-term supply agreement it inked with China’s SP Chemicals, Kallanish Energy reports.