Angola plans to increase its oil production by 20 percent by next year after suffering a very difficult 2014 as costs soared, prices slumped and technical problems hit output, the state oil company Sonangol said. Oil output from Africas sec...

Argentinas YPF SA and Chinas Sinopec recently signed an M.O.U. to develop oil-and-gas projects in Argentina. Local oil prices are decoupled from the international marketplace. A barrel of oil in Buenos Aires sells for $77 compared to about...

China plans to increase its shale gas production from 1.3 billion cubic meters of shale gas per year to 30 billion cubic meters per year by 2020, according to Chen Weidong of China National Offshore Oil Corp. This goal is significantly less...

Fujairah Oil Terminal, a joint-venture storage facility in the United Arab Emirates, received its first cargo of light distillates and will get an initial crude delivery this month, Commercial Director Malek Azizeh said. The start of operat...

The mainland should boost its strategic oil reserves and push ahead with energy price reforms, President Xi Jinping said yesterday. The measures were necessary to safeguard the nations energy security, Xi told a meeting of the Leading Group...

CNOOC Limited announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed two production sharing contracts (PSCs) with SK Innovation Co., Ltd. (SK) for Blocks 04/20 and 17/03 in the South China Sea....

Chinas top economic planner on Monday announced the retail price of gasoline would be raised by 290 yuan (47.3 U.S. dollars) per tonne and diesel by 280 yuan per tonne, snapping the trend of 13 consecutive cuts since July. The adjustment th...

Finland-based power provider Wartsila will provide an integrated propulsion system for the compressed natural gas (CNG) carrier being built for Indonesian state-owned energy company Perusahaan Listrik Negara (PLN). The 110m-long, 2,200m2 ca...

Southwestern Chinas Chongqing municipal government announced on Tuesday that it will build 30 billion cubic meters of shale gas production capacity by 2020 with an annual output of 20 billion cu m. The local government said a total investme...

State oil companies China National Offshore Oil Corp. (CNOOC) and Taiwans CPC Corp. plan to drill a well in deep waters off the islands southwest coast, at a block in the Taiwan Strait they are jointly developing under a production sharing...