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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

Proven reserves of Fuling shale gas field exceed 1 trillion cubic meters

Beijing (JLC), December 16, 2024--Fuling gas field became Sinopec’s first shale gas field to have proven gas reserves of over 1 trillion cubic meters.

12-16-2024 16:25:30

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

Sinopec unveils new gas reserves in Sichuan Basin

Guangzhou (JLC), August 22, 2023 – Sinopec has added another 30.55 billion cubic meters (bcm) of proven geological reserves to its gas assets, the company said on August 22.

08-22-2023 17:53:02

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

Sinopec discovers shale gas reserves in Sichuan

Beijing (JLC), October 19, 2022--Sinopec has discovered shale gas reserves in Southwest China's Sichuan Basin with a confirmed volume of 387.8 bcm and potential daily output of 258,600 cubic meters.

10-19-2022 18:04:48

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

Caofan LNG peak shaving reserve center gains ground

Beijing (JLC), March 23, 2022--China Railway 18th Bureau Group finished the main body construction of the storage tank of Jinan Caofan LNG peak shaving reserve phase II project, a market source said.

03-23-2022 16:04:45

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

Shandong’s largest inland LNG reserve center comes online

Beijing (JLC), September 28, 2021--China’s eastern Shandong province launched Nancaofan LNG peak shaving reserve center in its provincial capital Jinan last Sunday, the largest kind in inland Shandong.

09-28-2021 14:30:38

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

Towngas to launch new LNG reserve center in Shandong’s Weifang

Beijing (JLC), September 22, 2021--Weifang Towngas Co., Ltd. recently said that the company is expected to launch its Binhai LNG peak-shaving reserve center in Weifang city of eastern China’s Shandong province in October.

09-22-2021 17:42:20

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

Beijing Gas starts emergency reserve tanks at Tangshan LNG terminal

Beijing (JLC), September 14, 2021--China’s state-owned Beijing Gas Group unloaded LNG cargoes earlier this month into two new tanks at PetroChina’s Tangshan LNG terminal, marking the startup of the emergency LNG reserve facilities, according to Chinese domestic reports.

09-14-2021 17:48:38

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

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