Sinopec

China Petroleum & Chemical Corp., aka Sinopec, has reportedly added natural gas reserves in the Sichuan Basin.  The state-owned company said it received certification from the Ministry of Natural Resources for another 30.55 billion cubic meters (Bcm) of proven reserves in a deep natural gas reservoir in the Bazhong field of the Sichuan Basin, according…

China Petroleum and Chemical Corp., aka Sinopec, has agreed to take a stake in QatarEnergy’s North Field East (NFE) LNG expansion project, the first equity deal between a Chinese state-owned firm and the major natural gas exporter. Sinopec negotiated a 5% stake in one of the four 8 million metric ton/year (mmty) capacity trains outlined…

Oil and natural gas output from two of China’s leading fields again crept upward last year, according to reports that cited data from China National Petroleum Corp. (CNPC) and China Petroleum and Chemical Corp. (Sinopec). Oil and gas production in the Tarim Oilfield, China’s largest ultra-deep onshore play, hit a record 33.1 million tons (Mt)…

QatarEnergy has clinched a 4 million metric ton/year (mmty) LNG supply agreement with China Petroleum and Chemical Corp., aka Sinopec, its first for the developing North Field East (NFE) expansion. The two firms signed the 27-year sale and purchase agreement (SPA) during a ceremony in Doha, marking the longest supply contract signed by a Chinese…

Venture Global LNG Inc. has reached a deal to sell nearly 8 million metric tons/year (mmty) of liquefied natural gas (LNG) to China Petroleum & Chemical Corp., aka Sinopec, in deals representing the largest supply agreement ever signed by a U.S. gas exporter.  The 20-year deals, publicly announced on Thursday, also represent the largest supply…

EIG Global Energy Partners, a private equity firm that specializes in investments in energy infrastructure, agreed on Monday to pay Origin Energy Ltd $1.59 billion for a minority stake in Australia Pacific LNG Pty Limited, a joint venture with ConocoPhillips and Sinopec.   The liquefied natural gas (LNG) project is the largest by liquefaction capacity on…

Venture Global LNG Inc. has signed two long-term sales and purchase agreements to supply state-owned China Petroleum & Chemical Corp., aka Sinopec, with liquefied natural gas (LNG) from its Plaquemines export terminal under development in Louisiana.  Sinopec agreed last month to purchase 2.8 million metric tons/year (mmty) on a free-on-board (FOB) basis in one deal…

China Petroleum & Chemical Corp., aka Sinopec, has reportedly announced another oil and natural gas discovery in the Tarim Basin.  The state-owned company said on Chinese social media that it had discovered 100 million tons of oil and gas resources in the legacy-producing region, according to Reuters. That’s roughly the equivalent of 733 million bbl…

China Petroleum & Chemical Corp., aka Sinopec, said Tuesday it has proved more unconventional natural gas resources in the Sichuan Basin as the country works to boost its domestic output.  State-owned Sinopec said it proved another 34 billion cubic meters (Bcm) of gas reserves in the Zhongjiang field in the southwestern part of China. The…