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Related Articles
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
Bad omens for Chinese oil demand
Sino-US trade tensions could see crude consumption crumble despite recent buying behaviour
Taiwan’s energy dependencies laid bare
Renewed China tensions threaten island’s inflows of oil and gas from overseas
US-China trade war will have limited impact
Tariffs likely to compound already weakening energy flows between economic powerhouses and lead to trade being rerouted
Outlook 2025: China faces up to slowing clean product demand
Structurally lower GDP growth and the need for a different economic model will contribute to a significant slowdown
Chinese president Xi Jinping and Vietnamese communist party general secretary Nguyen Phu Trong
Vietnam China ExxonMobil Rosneft
James Gavin
18 August 2020
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Vietnam battles for IOCs as China turns up the heat

China is intensifying its pressure on Hanoi to halt IOCs’ offshore drilling activities. Some have already withdrawn and others may follow

Vietnam is facing the prospect of losing heavyweight IOCs from its offshore, as China amplifies pressure to rein in E&P activity that it views as challenging its maritime interests along the so-called Nine Dash Line in the South China Sea. Chinese pressure has this year forced Russia’s Rosneft to shelve a planned drilling campaign, while both Repsol and the UAE’s Mubadala, partners on the Ca Rong Do field, have relinquished offshore stakes to state-owned PetroVietnam—in return for what is understood to have been a compensation package worth around $1bn. Spain’s Repsol announced on 12 June that it would relinquish its 51.75pc stake in block 07/03 and blocks 135-136 in Vietnam. The IOC dis

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