July 10, 2023

Jiangsu oil field in-depth investigation and research to solve the development of the problem

Up to now, the implementation of conventional oil and gas exploration in Jiangsu oilfield proved reserves, control reserves have completed 70% and 52% of the annual plan, crude oil production over the line operation, effectively transforming the effectiveness of the theme of education and learning into the results of reform and development to benefit the masses of employees.

July 10, 2023

Anqing Petrochemical's 3 million tons/year heavy oil catalytic cracking plant started successfully in one go

On June 30, Anqing Petrochemical's 3 million tons/year heavy oil catalytic cracking plant, a project of Sinopec's "Ten Dragons" scientific and technological research project, was successfully started at one time and produced qualified products, marking Sinopec as the leader in the application of heavy oil catalytic cracking technology route. The plant is an independently developed

July 07, 2023

Oil prices diverge as market uncertainty continues - RTP pipeline maker excerpts from OilPrice.com

As uncertainty in the oil market is widespread, traders are struggling to balance economic uncertainty with continued supply cuts and rising capital costs Although Brent crude prices briefly rose on news of further production cuts by Saudi Arabia and capacity powers, they retreated in early Wednesday trading West Texas Intermediate (WTI

July 07, 2023

UAE sees latest production cuts as sufficient to balance oil market - RTP pipeline maker excerpts from oilprice.com

United Arab Emirates (UAE) Energy Minister Suhail Mazrui said Wednesday that the latest crude production and export cuts announced earlier this week by OPEC+ de facto leader Saudi Arabia and the capacity powerhouse should be enough to bring the oil market back into balance, Oilprice.com reported on July 5, 2023. "I

July 07, 2023

Natural gas industry is slow - RTP pipeline manufacturer excerpts from China National Petroleum News Center

On June 20, CNPC and Qatar Energy signed a cooperation document for the Northern Gas Field Expansion Project in Doha, the capital of Qatar. According to the agreement, Qatar Energy will continue to supply 4 million tons/year of LNG resources to PetroChina for the next 27 years and transfer 1.25% of the shares of the Northern Gas Field Expansion Project to PetroChina.

July 07, 2023

Qatar leads production growth - RTP pipeline manufacturer excerpts from China Oil News

Qatar leads production growth The situation changed rapidly after the 21st century. Middle Eastern governments realized that low-cost natural gas could replace liquid fuels in the power and industrial sectors, freeing up more oil for export. At the same time, global demand for LNG was growing rapidly. Countries

July 07, 2023

Many countries speed up natural gas development - RTP pipeline maker excerpts from China National Petroleum News Center

Many countries accelerate gas development The UAE currently has three production lines at Das Island in the Gulf with a total capacity of 5.8 million tonnes per year. Like Qatar, the UAE has opened its oil and gas assets to international investors to diversify and raise capital. 2020 saw ADNOC sell a minority stake in the $20 billion Hail & Ghasha sulfur-bearing gas development project to international companies. The company plans to build a new LNG plant, an LNG facility to be constructed in Fujairah, UAE, on the southern coast of the Persian Gulf, with a capacity of

July 07, 2023

Petrobras seeks to buy oil assets after decade of divestment - RTP pipeline maker excerpted by Sinopec News

Petrobras is looking at potential asset acquisition opportunities after years of selling stakes in upstream and downstream companies, Sergio Caetano Leite, chief financial officer of Petrobras, said in an interview with Bloomberg, Oilprice.com reported on July 4. With reduced debt, stronger cash flow and improved ability to raise capital, Pet