News

IEA: China Will Usher Golden Age of Gas

IES shows that for promotion of constantly increasing demands, golden age of gas in North America will expand to China in the next 5 years.   New interim report of gas market published IEA points out that the demands for gas in China will be double nearly by 2019. The increasing demands for gas...

Japan Sets Foot in Gas Fields in Mozambique

It is reported that the Ministry of Economy of Japan will provide resource assistance development to Mozambique, an African country that discovered world-class scale gas fields. The two governments reached an agreement on July 31.   To ensure that Japanese enterprises can also participate in development...

Apparent Demands for Gas in China Increasing Constantly

The new International Gas Report published by Platts points out that the total apparent demands for gas in China was 1.391 ten billion cubic meters in June, increasing by 7.9% on year-on-year basis while falling by 4.7, compared with previous month. In the fist half of this year, the total apparent...

Gas Output in Russia Decreased by 1.7%

It was reported that the total gas output in Russia was 3.74688 hundred billion cubic meters from January to July, 2014, decreasing by 1.7%, compared with the same period of 2013, according to the data of the Russian Federation Ministry of Industry and Energy. Meanwhile, Russia exported 1.17 hundred...

Ukraine: Forbid Russia Supplying Gas to Europe

It was reported that Arseniy Yatsenyuk, the Prime Minister of Ukraine stated that Ukraine was ready for sanctioning Russia, forbidding any transit transportation through Ukraine, including flights from Russia to Europe and supplying gas to Europe from Russia. Ukraine will utilize par of aid funds from...

South Stream Gas Pipe Will Not Be Abolished

It is reported that in recent days, Gerhard Reus, the CEO of OMV states that South Stream gas pipe in contemplation will not be abolished although the western and Russia confront each other because of the crisis in Ukraine.   The CEO said, “The gas pipe is a program which will last for 50...

Russian Oil Export to Asia Reaching a New High Level

For the deteriorating relationship with the Western deteriorating, Russian energy industry is treating Asia as its new axis of business. Russian oil export to the region has already reached a new high level in history. Many analysts also predict that Russia will promote part of Asian energy enterprises...

Nigerian President Appealed to Increasing Gas Supply

It is reported that recently, Jonathan, Nigerian President appealed to increasing gas supply, because insufficient gas has already raised the costs of manufacturers and threatened the policy that the government controls prices. In Nigeria, gas is main fuel used to generate electricity by most of enterprises....

Oil Demands Decline Indicates Global Economic Growth Slow

Energy Aspects, a consulting company in London claims that the substantial decline of oil demands is a leading indicator that global economic growth slows down. The new GDP published by Europe and Japan also proves that.   For the weak demands of European and Asian oil refineries and the falling...

Deal Between Rosneft and Vitol Fizzled Out

It is reported that the deal between Rosneft and Vitol, the oil trader which is worth for 2 billion dollars has already fizzled out. It is the new indication that the upgrading sanctions by the Western are hindering the Russian state-owned oil corporation to realize its ambition.   Before, Vitol,...

IEA: EU Has High Dependence on Russian Gas

On Monday (August 25), for tense relationship between Russia and Ukraine, Maria Van der Hoeven, the Chief Executive of IEA claimed that EU still has high dependence on Russian gas in the short term and it needs more time to realize the diversification of energy supply.   Van der Hoeven pointed...

LNG Market in China Has Overcapacity

This year, LNG market has already entered into cold winter. The whole industry is depressed, needing all of efforts to rescue market together. LNG market in China has overcapacity.   It is known that Chinese LNG market is entering into a pathologic cycle gradually since 2013. Explosive growth of...

Slovakia Launched a Pipe to Supply Gas to Ukraine

On Tuesday, Slovakia announced to launch a pipe to supply gas to Ukraine from EU. It is an important step that EU provides support to Ukraine for the upgrading disputes with Russia.   Reverse gas supply means that EU will supply gas to the eastern of Europe, as one of the responses for Gazprom...

Russia Preventing EU from Exporting Russian Gas to Ukraine

Moscow is seeking for prevent EU from exporting Russian gas to Ukraine. It threatens to cut off all of lifelines of Kiev which may intensify Ukrainian energy crisis in this winter.   When Moscow gives out threat, officials of EU are preparing new sanctions on Rosneft, Gazprom Neft and Transneft,...

Korea Imported Oil from The U.S.

Before dawn on September 11, a cargo ship loading 4 hundred thousand barrels of American gas condensate will arrive at Port of YOSU in Jeollanam-do, Korea. Korean oil industry is very concerned about that. It is the first time for 41 years that Korea imports oil from the U.S. Korea may get rid of excessive...

Chinese Economy Slowing Down Contains Gas Demand

Growth rate of Chinese gas demand in 2014 may decrease to the lowest level in three years. And it will continue falling in the next year. Due to Chinese economy slowing down and demoded raising price, gas demand will be far lower than anticipation.   The slowing growth rate means that demand will...

Gas Supply to China through the Western Line Expanded

On September 17, Miller, the CEO of Gazprom said that Russia had already negotiated with China for gas supply through the Western Line and discussed the possibility of expanding the quantity of gas supply.   On that day when Miller reported Putin, the Russian President, he stated that Russian and...

Iran Has Become the Third Largest Oil Supplier for China

Import volume of oil from Iran to China increases significantly. Iran has already become one of the most important oil suppliers for China. What’s more, China also becomes the largest trade partner for Iran officially since 2009 when exceeded EU and the leading investments supplier, which filled...

Russia Should Not Use Gas as Weapon

Guenther Oettinger, the energy commissioner of EU claimed that he hoped that Russia could reach a transitional solution with Ukraine for gas which having been cut off for three months on the meeting between Russia, Ukrainian government and Ukrainian pro-Russian, held in Berlin this Friday.   However,...

Rosneft Found an Oilfield in the Arctic Pole

Rosneft claimed that they had already found an oil field in the Arctic Pole with the assistance of Exxon Mobil, which meant that the explored region may become one of the most important global oil-producing regions.   Igor Sechin, the CEO of Rosneft announced that there were as high as 1 billion...