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PetroChina founds commercial oil reserve company, followed by CNOOC

Guangzhou (JLC), February 26, 2025--PetroChina established a commercial oil reserve company on February 11, while CNOOC followed suit on February 19, according to Tianyancha.

02-26-2025 19:05:37

Sinopec begins building commercial oil reserve project in Dongying

Guangzhou (JLC), December 2, 2024 – Sinopec Shengli Oilfield Company on November 29 began the construction of a large-scale commercial oil reserve facility in Dongying.

12-02-2024 18:45:05

CNOOC discovers large oilfield with proven reserve of 102 mln mt

Guangzhou (JLC), March 11, 2024 – CNOOC discovered China’s first deep-water and deep-play large oilfield in the South China Sea, the company announced on March 8.

03-11-2024 19:08:46

Sinopec discovers new shale oil and gas reserve in Sichuan Basin

Guangzhou (JLC), January 11, 2024 – Sinopec has discovered more than 100 million mt of new oil and gas reserve in the Sichuan Basin.

01-11-2024 18:57:53

China INE crude price rises again after China cuts reserve ratio

Guangzhou (JLC), September 15, 2023--The price of crude futures on China's Shanghai International Energy Exchange (INE) extended gains on Friday after China announced a cut in the reserve requirement

09-15-2023 18:10:31

Xinjiang and Sichuan top China’s oil and gas reserves in 2022 respectively

Guangzhou (JLC), August 1, 2023 -- China’s total oil reserves (not including shale oil and oil sands) stood at roughly 3.8 billion mt in 2022.

08-01-2023 18:06:44

China INE crude price edges up on warning against misusing oil reserves

Guangzhou (JLC), October 26, 2022--The price of crude futures on China’s Shanghai International Energy Exchange (INE) inched higher on Wednesday, after Saudi Arabia warned about some countries’ misuse

10-26-2022 19:07:20

China INE crude price plummets after IEA agrees to release oil reserves

Guangzhou (JLC), April 7, 2022--The price of crude futures on China’s Shanghai International Energy Exchange (INE) plunged Thursday, after the International Energy Agency (IEA) announced a huge oil re

04-07-2022 18:53:36

China may release another batch of crude reserves soon

Guangzhou (JLC), November 23, 2021--China may release a second batch of crude reserves in the near term, in view of high crude and bulk commodity prices, according to market sources.

11-23-2021 20:59:58

China to release gasoline, diesel reserves to ease tightness

Beijing (JLC), November 2, 2021--China will unleash gasoline and diesel reserves to mitigate domestic supply tightness, the National Food and Strategic Reserves Administration said on October 31.

11-02-2021 13:30:57

China to release another batch of crude reserves

Guangzhou (JLC), September 24, 2021--China will release a second batch of crude reserves in the near term, after an auction for the first batch took place on September 24, according to market sources.

09-24-2021 15:00:48

China to release crude reserves by auction on Sept 24

Beijing (JLC), September 15, 2021--China is going to release the first batch of crude from bonded tankers, 7,383,616.78 bbl (about one mln mt)

09-15-2021 17:12:55

INE crude dips on China’s plan to release crude reserves

Guangzhou (JLC), September 10, 2021--The price of crude futures on the Shanghai International Energy Exchange (INE) edged down on Friday, after China announced a plan to release crude from reserves.

09-10-2021 18:59:29

China to release crude reserves to relieve cost pressure

Beijing (JLC), September 10, 2021--China is going to release crude stocks in the reserves in batches to deal with increasing cost of feedstocks for domestic enterprises, the State Bureau of Grain and Material Reserves reported on its website on September 9th.

09-10-2021 09:44:48

Sinopec Yizheng petroleum reserve to start up

Beijing (JLC), April 27, 2020--China’s largest refiner Sinopec put its Yizheng crude commercial reverse base into operation on April 22, the industry source said.

04-27-2020 15:48:41

INE crude soars as China plans to buy oil for reserves

The price of crude futures on the Shanghai International Energy Exchange (INE) surged on Thursday as China is said to be preparing to buy crude for its strategic reserves.

04-02-2020 17:36:43

Yanchang Petroleum adds 117 mln mt of oil to reserves in 2019

Beijing (JLC), November 14, 2019--Shaanxi Yanchang Petroleum said recently it has added 117 million mt of proved oil to its geological reserves in 2019.

11-14-2019 16:42:36

Sinopec to add two 100-billion-cubic-meter shale gas reserve bases

Beijing (JLC), July 25, 2019--Sinopec has newly verified two 100-billion-cubic-meter shale gas reserves in Sichuan basin, domestic media reported.

07-25-2019 17:40:51

China adds 959 million mt of proven crude reserves in 2018

Beijing (JLC), July 17, 2019--China had added 956 million mt of proven crude geological reserves in 2018, up 9.4% year on year, domestic media reported, citing a source from the Ministry of Natural Resources (MNR).

07-17-2019 17:26:10

Qinghai Oilfield to explore 25 mln mt of oil and gas reserves in 2019

Beijing (JLC), February 15, 2019--Qinghai Oilfield planned to explore 25 million mt of oil and gas reserves in 2019, China National Petroleum Corporation’s subsidy PetroChina Qinghai Oilfield Company said on February 12.

02-15-2019 19:39:26

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