China's state oil and gas major Sinopec Group said it has signed a contract to explore a natural gas block in Algeria that potentially holds large shale gas resource.
Top Chinese refining major Sinopec Corp will prioritise "risk control" in purchasing Russian oil, which has similar quality for its value versus competing global supplies, a top company executive said on Monday.
Sinopec Corp said on Monday the Chinese government has certified about 180 million metric tons, or about 1.3 billion barrels, of new geological reserves at two of its shale oil plays.
Algeria's state oil and gas firm Sonatrach and China's Sinopec signed a contract for hydrocarbon development and exploration worth $850 million in the north African country, the Algerian company said on Tuesday.
China's Sinopec plans to raise crude throughput next month by 100,000 to 150,000 barrels per day (bpd) from January to meet a rise in travel demand during the Lunar New Year holiday and compensate for run cuts at independent refiners, trade sources said.
China Petroleum & Chemical Corp, or Sinopec Corp , said on Friday it processed 2.03% less crude oil in 2024 versus 2023 and its diesel output tumbled 10.27% over the previous year.
China Petrochemical Corp, or Sinopec, expects China's petroleum consumption to peak by 2027 at no more than 800 million metric tons or 16 million barrels per day, the state energy group said in an outlook released on Thursday.
Sinopec Corp said on Monday that the company and Saudi Aramco have started constructing a refinery and petrochemical complex in southeast China's Fujian province.
Sinopec is advancing development of shale oil at its pilot project Jiyang in east China, pumping 1,600 metric tons per day now, up from 100 tons in 2021, the state oil and gas group said on Wednesday.
East Timor has talked with Chinese firms including state-owned Sinopec about developing the stalled Greater Sunrise gas field, President Jose Ramos-Horta said on Wednesday, after disagreements with Australia over the shared field's future.
China's Sinopec posted a 2.7% rise in net profit for the first half of the year, it said on Sunday, as rising oil prices boosted income.
China Petroleum and Chemical Corp (Sinopec) , Asia's largest refiner, on Friday reported first-half crude throughput little changed year on year.