Sinopec doubles profits and increases LNG procurement from US and Qatar amid rise in China shale output
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.
Sinopec increases Tianjin North LNG terminal capability and reports output boost at main shale-gas field
China Petroleum and Chemical Corp. (Sinopec), which recently signed supply deals with US liquefaction plant developer Venture Global, has put a second jetty into operation at the Tianjin North onshore LNG import terminal guaranteeing supplies to the Chinese capital Beijing.
China's Sinopec extends Arab world presence with Algeria accord after Qatar LNG and Iraq gas deals
Sonatrach, the Algerian state energy company and operator of two liquefied natural gas export plants, and Sinopec of China, an importer of LNG from nations like Australia, have signed an accord to extend and broaden the Chinese major’s 20-year oil producing role in the North African country.
Sinopec strengthens energy presence in Gulf with Iraqi gas field award after Qatari LNG agreement
China Petroleum & Chemical Corp., known as Sinopec, is strengthening its energy presence in the Arab Gulf region by winning a licence to further develop the Mansuriya natural gas field in Iraq, located near the Iranian border, while also arranging Gulf LNG imports.
Sinopec shale boost
Nov 13 (LNGJ) - China Petroleum and Chemical Corp. (Sinopec), a shareholder in the Australia-Pacific LNG plant in Queensland operated by ConocoPhillips, said it added 83 billion cubic metres of newly proven domestic natural gas reserves at the Chuanxi field in China’s onshore Sichuan Shale basin. “The reserves, certified by the Chinese Ministry of Natural Resources, raise the field’s total proven resources to 114 Bcm. The reservoir is spread over 138 square kilometres in the western part of the basin at depths of 6,000 metres,” said Sinopec.
Sinopec reported earlier in November that it had recorded China’s highest ever daily output of shale gas at 20.62 million cubic metres in its Fuling project, the country’s first commercial shale production venture. “Fuling shale is an important gas source for the Sichuan-East gas pipeline, meeting the daily gas consumption of 40 million households,” said the company. “Since the beginning of 2020, the Fuling shale-gas field has achieved full recovery of production through non-stop drilling rig operations and rapid resumption of fracturing gas testing despite the Covid-19 outbreak,” stated Sinopec.
