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China’s oil output to scale new heights
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
India to help Asia spearhead global refining
Shifting demand patterns leaves most populous nation primed to become downstream leader as China and the West retreat
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Cheap gas key to unlocking new markets
Weaning poorer regions off coal means gas needs to be abundant and competitive longer term
Do not underplay China’s long-term gas growth narrative
A subdued market amid global trade tensions is just an aberration in gas’ upward trajectory
China’s critical gas position
China will play a huge role in driving gas demand, with its Qatar partnership crucial to this growth amid global structural challenges
Petro Matad plans Mongolian oil in 2022
Production from the Heron field could peak at 9,000bl/d and feed both exports and the domestic market
Guyana keeps the oil finds flowing
Latin America’s latest crude producer again proves its status as a world-class petroleum province
Cnooc expands production
Chinese state-controlled firm continues to bring new fields online to lift output
Iraq shrugs off partner uncertainty to lift long-term target
The country has lifted its long-term production target to 8mn bl/d despite continued murmurings about IOC dissatisfaction
China Petrochina Cnooc CNPC
Shi Weijun
Beijing
25 August 2020
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Chinese pipeline reform set to spur E&P

The transfer of major infrastructure assets away from the country’s NOCs to the newly created PipeChina should reinvigorate the upstream sector

China’s pipeline reform will be a boon for domestic E&P in coming years as it will allow the country’s NOCs to sharpen their upstream focus while paving the way for the entry of more players to ­foster competition. The reform, initiated last month, saw PetroChina and Sinopec agree to swap various assets—including pipelines, storage sites and import terminals worth a combined RMB391bn ($56bn)—for cash and shares in a new midstream operator, known as PipeChina. Those deals, plus cash injections from other investors, will see PipeChina valued at RMB500bn once the transactions close by the end of September—making the state-owned firm one of the largest pipeline companies in the world. The as

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