LNG

China Petroleum and Chemical Corp. (Sinopec), one of the world’s top six oil and gas companies and a significant liquefied natural gas importer to back up its refining activities, more than doubled annual net profits as prices soared and it continued to seal LNG supply deals.

China National Offshore Oil Corp. (CNOOC), a large holder of Chinese LNG import capacity, raised its year-to-date domestic natural gas production to 311.3 billion cubic feet from 250.6 Bcf in the same nine-month period last year as the nation overhauls the ownership structure of its terminals and pipeline system, offering third-party access.