China National Petroleum Corporation (CNPC), parent company of PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857), has set up a joint venture with French Total SA and Tethys Petroleum Ltd. to develop an oil and gas project in Tajikistan. Tot...

Iran has warned China it could cancel a much-delayed $5-billion offshore gas exploration contract in the Gulf, a news agency said on Monday. There is a possibility of cancelling the contract signed in 2009 to develop the South Pars gas fiel...

The following are top stories in Chinas oil, gas and petrochemical sector on Monday: 1. Natural gas output gained pace in November due to increasing demand for the fuel as winter approached, latest data from the National Development and Ref...

U.S. regulators filed a lawsuit Thursday against a Chinese oil company and two of its executives, alleging that they diverted millions of dollars in company funds to improperly benefit themselves and their families. The Securities and Excha...

China produced 8.8 billion cubic meters of natural gas in October, up 7.3 percent year-on-year, latest data on Sunday showed. According to the National Development and Reform Commission, the countrys top economic planner, apparent consumpti...

Sinopec International Petroleum Exploration Production Corp., has announced that it has acquired the French giant Totals 20% stake and operating licenses in offshore block OML 138 positioned in the Usan field in the Niger Delta basin. The s...

China National Petroleum Corp (CNPC) has emerged as the frontrunner to take over Iraqs West Qurna-1 oilfield from Exxon Mobil, a move that would diminish Western oil influence in Iraq a decade after the US-led invasion. US oil major Exxon i...

Chinas commercial crude inventories fell to the lowest level in six months while gasoline stockpiles rose the most in two years in November, according to the official Xinhua news agency. Crude supplies, excluding emergency reserves, fell 1...

BP today announced that it has agreed the sale of its 34.3 per cent interest in the Yacheng gas field in the South China Sea to Kuwait Foreign Petroleum Exploration Company (KUFPEC) for $308 million cash. Subject to regulatory, CNOOC and th...

British oil company BP says it is selling its stake in a South China Sea gas field to Kuwait Foreign Petroleum Exploration Company for $308 million in cash. The Kuwaitis are buying BPs 34.3 percent stake in the Yacheng gas field, which bega...