DOCSLIB.ORG

International Deals | PLS

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
International Deals | PLS March 13, 2017 • Volume 09, No. 04 INTERNATIONALDEALS Serving the marketplace with news, analysis and business opportunities Exxon buys 25% stake in Eni’s Mozambique gas for $2.8B Shell sells vast majority of Marking its third multi-billion-dollar acquisition in eight months, ExxonMobil oil sands business for $7.2B signed a deal for an indirect 25% WI in Eni’s gas discoveries offshore Mozambique. In the biggest advance yet for its Exxon will pay US$2.8 billion cash for half of the Italian energy company’s 71.4% stake post-BG divestment plan, Shell signed in Eni East Africa, which owns 70% WI in the Rovuma Basin’s Area 4 concession. Eni’s two agreements that will dramatically indirect Area 4 stake will drop to 25%. downsize its footprint in Canada’s oil Three acquisitions totaling $10.8B CNPC owns the sands for a net payoff of plus $1.7B contingent since last July. other 28.6% of Eni US$7.25 billion. As a result East Africa, equivalent to 20% WI in Area 4. The Chinese NOC paid Eni $4.21 billion of these transactions, the for this stake in 2013. The remaining Area 4 interests are held by South Korea’s Kogas, supermajor will shed all of its thermal in Portugal’s Galp Energia and Mozambique’s state-owned ENH (10% each). situ and undeveloped oil sands interests Multiple media outlets have been reporting for more than a year that Exxon and a reduce its stake in a key oil sands was in negotiations with both Eni and Anadarko Petroleum, which owns multiple mining project from 60% to 10%. This discoveries on the neighboring Area 1 concession. Last August, Reuters reported that is the second major oil sands divestment the US supermajor had agreed on terms with Eni but would not announce a deal for by an international oil and gas company several months at Exxon’s request. Continues On Pg 8 in just three months, following Statoil’s OMV buys into key Russian gas field for $1.85 billion $444 million exit from the sector Delivering on a promise to replenish reserves and reduce operating costs, Austria’s in mid-December. OMV agreed to acquire German energy company Uniper’s 25% stake in one of Russia’s Marathon exiting concurrently; Statoil biggest gas fields for US$1.85 billion (€1.75 billion). Yuzhno Russkoye field lies in divested its oil sands late last year. the Yamal-Nenets region of Western Siberia and is the key gas source for the Nord Stream pipeline to Germany, First, Shell will sell to Calgary-based producing at a gross plateau Replaces high-capex UK assets with Canadian Natural Resources Ltd. its low-cost output anchoring Nord Stream. rate of 2.4 Bcf/d since 2009. entire 60% WI in the Athabasca Oil For OMV, the field will immediately generate net production of 600 MMcf/d, boosting Sands Project; its 100%-owned in situ the company’s output by one-third and establishing a new core area in Russia. assets in Alberta’s Peace River complex The Yuzhno Russkoye deal is the biggest move so far in an ongoing effort to including the Carmon Creek thermal transform OMV’s portfolio across the entire oil and gas value chain. It was announced project; and multiple undeveloped two days after OMV agreed to sell its Turkish retail business for $1.45 billion (PG. 11). oil sands leases. CNRL will pay The acquisition also follows the $875 million sale of OMV’s UK North Sea business $8.5 billion for these assets, comprised of to privately held Siccar Point Energy, which closed in January. Continues On Pg 11 $5.4 billion cash plus 98 million shares valued at $3.1 billion. The stock portion China’s CNPC & CEFC acquire final 12% in ADCO for $2.7B will make Shell a major shareholder with nearly a 9% equity stake in CNRL, one Abu Dhabi’s state-owned ADNOC signed up two Chinese oil and gas companies of Canada’s largest energy companies to fill the final 12% WI earmarked for foreign partners at its onshore ADCO concession and an oil sands leader with a market cap for a combined price tag of nearly US$2.7 billion. China’s state-owned CNPC paid of ~$35 billion. Continues On Pg 13 AED6.5 billion ($1.77 billion) to enter the concession with an 8% stake, followed two days later by private conglomerate CEFC China Energy, which contributed an AED3.3 billion ($888 million) sign-up bonus for 4% DEALS FOR SALE WI. These prices are roughly in line with the $2.19 billion all-stock deal struck by Four ADCO fields produce 1.66 MMbo/d, INTERNATIONAL OPPORTUNITY more than half of Abu Dhabi’s total. BP in December for a 10% ADCO stake. Large Wells. The new ADCO concession began in January 2015 and is expected to produce SOUTHEAST ASIA PP Working Interest For Sale gross resources of 20-30 Bboe over its 40-year term. The concession’s Bab, Bu Hasa, PP 2725DV Shah and Asab fields account for half of Abu Dhabi’s reserves and production. They will provide immediate net production of 132,800 bo/d for CNPC and 66,400 bo/d for WEST AFRICA OFFSHORE CEFC, ramping to more than 166,000 bo/d and 83,000 bo/d at peak, respectively. In UPPER CRETACEOUS DISCOVERY addition, CEFC signed a long-term oil supply contract for ~750 MMbo annually. NonOperated WI For Sale PP First Class Operator. The other foreign ADCO stakeholders are France’s Total (10%), Japan’s Inpex PP 2701DV (5%) and South Korea’s GS Energy (3%). Continues On Pg 10 All Standard Disclaimers & Seller Rights Apply. INTERNATIONALDEALS 2 March 13, 2017 Latin America Zenith sells Argentine oil Shell to take 50% stake in YPF block targeting Vaca Muerta fields shut in since mid-2015 Argentina’s state-owned YPF signed a preliminary agreement to partner with Shell Azerbaijan and Italy-focused Zenith on its 50,400-acre Bajado de Anelo block in Neuquen province. Terms call for a Shell Energy sold its shut-in oil properties in affiliate to contribute 97.6% of a US$305.8 million two-phase Vaca Muerta shale pilot Argentina’s southern Patagonia region program to earn an operated 50% stake. The companies are in exclusive negotiations to to a group of local energy investors. The reach a definite agreement, which Shell spokesperson Kimberly Windon told Reuters company acquired the Don is expected by late April. If successful, Windon added, the pilot will expand to full Ernesto and Don Alberto field development. fields in Chubut province YPF signed a similar Located NE of YPF & Chevron’s prolific in 2010 and increased production and Vaca Muerta program at Loma Campana. agreement early last year to profitability while demonstrating further partner with Aubrey McClendon’s American Energy Partners on Bajado de Anelo development potential, but it had to as well as the larger Cerro Arena block, but that deal fell apart after McClendon’s suspend operations in August 2015 after death in a single-car accident last March. YPF plans to invest $2.3 billion in the Vaca a major storage tank owned by state- Muerta this year. Bajada de Anelo lies northeast of YPF and Chevron’s producing run YPF collapsed and shut down oil Vaca Muerta program on the Loma Campana block. transport from the region. Elsewhere in Neuquen province, YPF bought PetroUruguay’s 20% WI in the Before the shut-in, Zenith had 2Q15 producing Aguada de la Arena block for $18 million to boost its ownership to 100%. net sales of 112 bo/d from the Argentine YPF acquired its initial 80% WI from Petrobras Argentina for $68 million in a deal that fields. The Calgary-based company had closed last October. Aguada de la Arena produced 7.1 MMcfe/d (22% oil) from 14 wells net proved reserves of 103,000 bo and in 2015. Its acquisition was part of a larger deal that 2P reserves of 545,000 bo in Argentina also gave YPF 33% WI in the 60 MMcfe/d (10% oil) December 31, 2014 • Volume 06, No. 15 as of March 31, 2016. The buyers will INTERNATIONALCAPITAL Serving the marketplace with news, analysis and business opportunities pay Zenith only a nominal sum in light Rio Nuequen block for $72 million. It is partnering Analysts assess project risk at various price points Petrobras scandal, possible In perhaps the most extreme prognostication to date, Goldman Sachs analysts default spurs lawsuits say $1.0 trillion in projects could fall by the wayside as $60/bbl Brent renders certain The ongoing investigation into the higher-priced projects around the world unprofitable. Projects aggregating $930 Petrobras scandal could soon have billion worth of future investment were no longer profitable with Brent at $70/bbl, the implications outside Brazil. That’s of anticipated expenses to return the with Petrobras Argentina (now majority-owned investmentInternationalCapital bank said, and that $10/bbl less would push that number to the $1.0 trillion because theJan. company and its executives20 mark. The Goldman analysis looked at 400 of the world's largest new fields have been named excluding US shale. as the target Goldman estimates that more than Led by Canadian oil sands $1.0T in projects are at risk at current prices. of a new, $98-billion US class-action projects at $80/bbl and certain US shale lawsuit alleging Petrobras made material fields to production, but will assume all by Argentine power firm Pampa Energia) and plays and other tight oil plays at $76, Energy Aspects say more than 12% of global oil misstatements about the value of production would be uneconomic if the majors were to move forward on existing projects at today’s prices.
Load more

Recommended publications
  • Working with Vietnam, Russia's Rosneft Draws China's
    Working with Vietnam, Russia's Rosneft Draws China’s Ire Rosneft is a crucial arm of Russian foreign policy, yet functions at times without direct Kremlin involvement. By Nicholas Trickett May 19, 2018 China has been the driving force behind Russia’s “Pivot to Asia,” becoming the largest individual consumer of Russian Russian President Vladimir Putin, right, and Vietnamese oil among its energy trade partners. Early this month, it President Tran Dai Quang attend a news conference was reported that Russia had completed the delivery of its following their meeting in the Kremlin in Moscow, Russia first S-400 regiment – the country’s most advanced air Thursday, June 29, 2017. defense system for export – to China. Beijing’s Ministry of Image Credit: Natalia Kolesnikova/Pool Photo via AP Commerce is signaling that trade turnover with Russia may reach $100 billion this year Russia and that investment under the aegis of the Belt and Road Initiative (BRI) is growing fastest in percentage terms in Russia. Trade is up because oil prices are up, not necessarily because of an economic breakthrough, but the messaging is part of a broader commitment to making it appear as though all is well between the two countries. Two recent developments mark a significant change in the relationship. First, CEFC China Energy walked away from a deal to acquire 14.16 percent of Rosneft’s shares. Mired in scandal, the company has come under heavy scrutiny about its international expansion at home. Qatar stepped in to buy the shares instead as Rosneft changed its corporate strategy to provide better returns for shareholders and entice Qatar.
    [Show full text]
  • Energy China Forum 2019 9Th Asia-Pacific Shale Gas & Oil Summit 25-27 September, 2019 | Shanghai China
    Energy China Forum 2019 9th Asia-Pacific Shale Gas & Oil Summit 25-27 September, 2019 | Shanghai China Opportunities in China Shale Gas & Oil OPPORTUNITY IN CHINA SHALE GAS & Oil MARKET As a fast growing market, China shale gas & oil industry has been proved with great resource potential, high government support and increasing drilling and fracturing operations, which makes the market full of opportunities for global technology, equipment and service providers. • Abundant shale resources: China is currently the 3rd largest shale gas producer in the world with a top reserve of 30 tcm. Meanwhile, China has nearly 100 billion tons of shale oil(tight oil) resources. • Highly valued and supported by the government: The country requires vigorous enhancement of domestic oil and gas development and formulate various supportive policies for shale development. • Surging production – It is the two most critical years of 2019-2020 for China to achieve its ambitious 5 years shale gas production target of 30 bcm. • Increasing capital investment: Both CNPC and Sinopec are increasing investment and expenditure with total expenditure for E&P of 216.1 billion CNY in 2018, up by 12% yoy. They are expected to stay high investment in 2019-2020 despite the market fluctuation. • Increasing operations - Starting from 2018, CNPC and Sinopec were accelerating their shale gas production. CNPC plans to drill 6,300 shale gas wells in total during 2018-2035. Sinopec plans to drill around 700 shale gas production wells during 2019-2020. • Cost/efficiency orientation – Chinese shale players are more eager than ever looking for cost-reducing and efficiency-optimizing solutions.
    [Show full text]
  • Asia's Energy Security
    the national bureau of asian research nbr special report #68 | november 2017 asia’s energy security and China’s Belt and Road Initiative By Erica Downs, Mikkal E. Herberg, Michael Kugelman, Christopher Len, and Kaho Yu cover 2 NBR Board of Directors Charles W. Brady Ryo Kubota Matt Salmon (Chairman) Chairman, President, and CEO Vice President of Government Affairs Chairman Emeritus Acucela Inc. Arizona State University Invesco LLC Quentin W. Kuhrau Gordon Smith John V. Rindlaub Chief Executive Officer Chief Operating Officer (Vice Chairman and Treasurer) Unico Properties LLC Exact Staff, Inc. President, Asia Pacific Wells Fargo Regina Mayor Scott Stoll Principal, Global Sector Head and U.S. Partner George Davidson National Sector Leader of Energy and Ernst & Young LLP (Vice Chairman) Natural Resources Vice Chairman, M&A, Asia-Pacific KPMG LLP David K.Y. Tang HSBC Holdings plc (Ret.) Managing Partner, Asia Melody Meyer K&L Gates LLP George F. Russell Jr. President (Chairman Emeritus) Melody Meyer Energy LLC Chairman Emeritus Honorary Directors Russell Investments Joseph M. Naylor Vice President of Policy, Government Lawrence W. Clarkson Dennis Blair and Public Affairs Senior Vice President Chairman Chevron Corporation The Boeing Company (Ret.) Sasakawa Peace Foundation USA U.S. Navy (Ret.) C. Michael Petters Thomas E. Fisher President and Chief Executive Officer Senior Vice President Maria Livanos Cattaui Huntington Ingalls Industries, Inc. Unocal Corporation (Ret.) Secretary General (Ret.) International Chamber of Commerce Kenneth B. Pyle Joachim Kempin Professor; Founding President Senior Vice President Norman D. Dicks University of Washington; NBR Microsoft Corporation (Ret.) Senior Policy Advisor Van Ness Feldman LLP Jonathan Roberts Clark S.
    [Show full text]
  • China at the Gates a New Power Audit of Eu-China Relations
    CHINA AT THE GATES A NEW POWER AUDIT OF EU-CHINA RELATIONS François Godement & Abigaël Vasselier ABOUT ECFR The European Council on Foreign Relations (ECFR) is the first pan-European think-tank. Launched in October 2007, its objective is to conduct research and promote informed debate across Europe on the development of coherent, effective and values- based European foreign policy. ECFR has developed a strategy with three distinctive elements that define its activities: • A pan-European Council. ECFR has brought together a distinguished Council of over two hundred Members - politicians, decision makers, thinkers and business people from the EU’s member states and candidate countries - which meets once a year as a full body. Through geographical and thematic task forces, members provide ECFR staff with advice and feedback on policy ideas and help with ECFR’s activities within their own countries. The Council is chaired by Carl Bildt, Emma Bonino and Mabel van Oranje. • A physical presence in the main EU member states. ECFR, uniquely among European think-tanks, has offices in Berlin, London, Madrid, Paris, Rome, Sofia and Warsaw. Our offices are platforms for research, debate, advocacy and communications. • Developing contagious ideas that get people talking. ECFR has brought together a team of distinguished researchers and practitioners from all over Europe to carry out innovative research and policy development projects with a pan-European focus. ECFR produces original research; publishes policy reports; hosts private meetings, public debates, and “friends of ECFR” gatherings in EU capitals; and reaches out to strategic media outlets. ECFR is a registered charity funded by the Open Society Foundations and other generous foundations, individuals and corporate entities.
    [Show full text]
  • 中国の石油産業における 第2グループ（Second-Tiers）
    JOGMEC K Y M C JOGMEC 調査部 竹原 美佳 アナリシス 中国の石油産業における 第2グループ（second-tiers） はじめに 中国の石油産業は長年3大国有石油企業CNPC、SINOPEC、CNOOC 3社の寡占状態にある。業界寡 占度は電力や石炭など他のエネルギー産業に比べ著しく高い。3社は原油生産の9割、天然ガス生産の8 割、精製処理量の7割を占めている（図1）。輸送、貯蔵・販売事業についても3社が過半を占める。 原油・天然ガス輸入パイプラインはCNPC/PetroChinaがほぼ一手に担い、国内の主要なLNG受入基 地は国有石油企業3社が地方政府と共同で建設。地方政府やその傘下のガス企業も出資しているが、上 海の受入基地を除き3社の出資比率が最も高い。また天然ガス（LNG）の輸入（長期売買契約）の9割以上 が3社によるものだ。 しかし、近年、習近平政権が推し進める「混合所有制（国有企業への国有〈異業種〉、集団、民間企業に よる資本参加）」（すなわち、国有石油企業の独占打破）政策や石油産業を対象とした汚職腐敗取り締ま りが追い風となり、国有石油企業の牙城で“第2グループ（second-tiers）”と呼ばれる企業の活動領域が 拡大しつつある。 国外ガスバリューチェーン展開の動きはまだ見られないが、今後、“第2グループ”の間で統合・再編 が行われ、国外探鉱開発事業と国内精製・販売を中核とした中堅石油企業が出現する可能性がある。 原油生産 天然ガス生産 精製処理量 陝西延長 6% 外資等 CNOOC 陝西延長 0% 18% その他 PetroChina 19% 28% 23% CNOOC PetroChina Sinopec 5% Sinopec PetroChina 52% 15% 62% 17% CNOOC Sinopec 6% 43% 外資等 6% 出所：各社年報、BP 統計等に基づき作成 図1 国有石油企業の原油・天然ガス生産、精製処理量の割合（2016年） 1.“第2グループ”企業の概要と石油・ガス産業での活動 “第2グループ（second-tiers）”企業は石油、電力・ガス、 中心に石油企業原油3社、電力・ガス9社、金融・その 金融他、政府系ファンドに大別することができる。本稿 他（国家ファンドを含む）7社計18社を抽出した。 では国外探鉱開発事業とLNG輸入事業に関わる活動を 企業別の概要と活動状況を以下に示す。 45 石油・天然ガスレビュー JOGMEC K Y M C アナリシス 表1 第2グループ企業の概要 LNG 売買 国内石油・ 国内 LNG 受入基 都市ガス販売・顧客数 契約 ガス生産 主な国外 地出資基地数 上段：販売量（億m3） （百万トン） 2016 年 油ガス田資産等 上段：操業中 下段：顧客 上段：契約 （万 boed） 下段：建設中 （万戸） 下段：合意 国有 中国中化 ブラジル Peregrino 油 未公表 Sinochem 田 石油 中国化工 ChemChina 地方政府 陝西延長 マダガスカル 23 Yanchang 国有 中国華電 複数計画あり 契約：1.0 販売：N.A Huadian 合意：3.0 顧客：N.A 地方政府 北京控股（北京燃気） ロシア 操業中 1：河北・ 販売：138 Beijing Enterprise/Beijing Verkhnechonsk 油田 唐山 顧客：660 Gas （2015 年） 申能 操業中 2：上海・ 販売：76 Shenergy 洋山、五号溝 顧客：660（LPG、 未公表 石炭ガス込み） （2016 年） 浙江能源 交渉中 操業中１：浙江・ 販売：65
    [Show full text]
  • VOLUME 19 • ISSUE 9 • MAY 9, 2019 On
    VOLUME 19 • ISSUE 9 • MAY 9, 2019 SPECIAL ISSUE: CHINA’S UNITED FRONT OPERATIONS AROUND THE WORLD IN THIS ISSUE: On the Correct Use of Terms for Understanding “United Front Work” By Anne-Marie Brady Reorganizing the United Front Work Department: New Structures for a New Era of Diaspora and Religious Affairs Work By Alex Joske The United Front Work Department Goes Global: The Worldwide Expansion of the Council for the Promotion of the Peaceful Reunification of China By John Dotson ​ United Front Work by Other Means: China’s “Economic Diplomacy” in Central and Eastern Europe By Martin Hála How Beijing is Shaping Politics in Western Australia By Wai Ling Yeung and Clive Hamilton Editor’s note: This is a special theme issue of China Brief, focused on China’s “united front” (tongyi zhanxian, 统一战线) ​ ​ ​ ​ ​ influence operations throughout the world. Many of the Chinese government’s united front activities are entrusted to a specific organization: the Communist Party’s United Front Work Department (UFWD), which handles a broad range of policy portfolios ranging from ethnic and religious affairs within China, to seeking influence over ethnic Chinese ​ communities and governments in foreign countries. However, in a much broader sense, the “united front” also represents a series of political strategies and tactics, employed by a variety of Chinese state-affiliated organizations, to pursue the interests of the Chinese Communist Party throughout the world. In our first article, Anne-Marie Brady helps to frame the issue by examining the nature of “united front work,” and the language employed in reference to these activities.
    [Show full text]
  • WPC 2018: 33Rd Annual World Petrochemical Conference
    WPC 2018: 33rd Annual World Petrochemical Conference - Delegate List Company Title Country 3M Sourcing Analyst USA 3M Sourcing Analyst USA 3M Company Advanced Sourcing Specialist USA ABB Manager of Business Development USA Abbott Commodity Risk Manager USA Abbott Nutrition Global Packaging Risk Management USA ABN AMRO MD Netherlands ABN AMRO Director USA ABN AMRO Managing Director, Head of Basic Materials North America USA ACS NY CME STEM Program USA Adage Capital Management Analyst USA ADM Vice President, Process & Chemical Research USA Advanced Composites GM Purchasing USA Advanced Composites Senior Buyer USA Advanced Composites, Inc. Asst. GM Purchasing USA Advisian Practice Lead, Chemicals Canada AEP Energy Director USA Aflac Financial Analyst USA AFPM Vice President USA AFPM President and CEO USA Agilyx Corporation CEO USA Air Liquide Chemical Marketing Manager USA Air Liquide Global Chemicals Marketing Director Germany Air Liquide- Lurgi Technologies Director Marketing Chemical Conversion Germany Air Products Strategy & Marketing Manager USA Air Products Global Petrochemicals Market Manager USA AkzoNobel Industrial Chemicals Sales & Marketing Director Netherlands AkzoNobel Industrial Chemicals Business Development Manager Netherlands Alabama Power Company Industrial Business Development USA ALBA Corporation President South Korea Alberta's Industrial Heartland Association Strathcona County Representative Canada Alberta's Industrial Heartland Association Strathcona County Representative Canada Alberta's Industrial Heartland Association Director, Business Development Canada Alberta's Industrial Heartland Association Sturgeon County Representative Canada Alberta's Industrial Heartland Association Business Development Officer Canada Alberta's Industrial Heartland Association Executive Director Canada Alfa Corporativo S.A de C.V. Strategic Planning Leader Mexico Alfa Corporativo S.A de C.V. Strategic Planning Analyst Mexico ALFA CORPORATIVO SA DE CV STRATEGIC PLANNING MANAGER.
    [Show full text]
  • Forecast of Chinese Investment in US Shale Gas
    University of Denver Digital Commons @ DU Electronic Theses and Dissertations Graduate Studies 1-1-2014 Forecast of Chinese Investment in US Shale Gas Zhizhou Zhu University of Denver Follow this and additional works at: https://digitalcommons.du.edu/etd Part of the Asian History Commons, Environmental Sciences Commons, and the United States History Commons Recommended Citation Zhu, Zhizhou, "Forecast of Chinese Investment in US Shale Gas" (2014). Electronic Theses and Dissertations. 736. https://digitalcommons.du.edu/etd/736 This Thesis is brought to you for free and open access by the Graduate Studies at Digital Commons @ DU. It has been accepted for inclusion in Electronic Theses and Dissertations by an authorized administrator of Digital Commons @ DU. For more information, please contact [email protected],[email protected]. Forecast of Chinese Investment in US Shale Gas __________ A Thesis Presented to the Faculty of Josef Korbel School of International Studies University of Denver __________ In Partial Fulfillment of the Requirements for the Degree Master of Arts __________ by Zhizhou Zhu June 2014 Advisor: Professor Barry B. Hughes Author: Zhizhou Zhu Title: Forecast of Chinese Investment in US Shale Gas Advisor: Professor Barry B. Hughes Degree Date: June 2014 Abstract This thesis will make a forecast of the future growth of Chinese investment in the US shale gas industry in the short term (within the next 5 years) and in the long term (in more than 10 years). The thesis’s purpose is to study the purpose, trend as well as the impact on China itself in China’s recent asset acquisition activities in the US shale gas.
    [Show full text]
  • Sino-Russian Gas and Oil Cooperation: Entering Into a New Era of Strategic Partnership?
    April 2015 Sino-Russian Gas and Oil Cooperation: Entering into a New Era of Strategic Partnership? OIES PAPER: WPM 59 Keun-Wook Paik* The contents of this paper are the authors’ sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its members. Copyright © 2015 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-78467-029-0 *Keun-Wook Paik is Senior Research Fellow at the Oxford Institute for Energy Studies. i April 2015 – Sino-Russian Gas and Oil Cooperation Acknowledgements Since the publication of Sino-Russian Oil and Gas Cooperation: The Reality and Implications in August 2012, Sino-Russian energy cooperation has witnessed major breakthroughs during the period 2013–14, and the implications for the coming years will not be small. This paper aims at updating the breakthroughs and analysing the implications. I am hugely privileged to have been able to count on the advice, support, and encouragement of my OIES colleagues. My special thanks go to Bassam Fattouh, Jonathan Stern, and Chris Allsopp for their generosity and patience in commenting on the draft, which has significantly enhanced its quality. I also want to express sincere thanks to Tatiana Mitrova who made very useful comments on the final draft, to Lucy Hornby who gave solid help in restructuring and shortening the first draft, and to Colin Shek who helped update my understanding of the CNPC’s WEP development scheme.
    [Show full text]
  • Top 100 Oil & Gas Companies
    The Global 5000 - Top 100 Oil & Gas Companies Company Name 2013 Tot Revenue ($ mil USD) China Petroleum & Chemical (Sinopec)$ 475,778 Royal Dutch Shell Group $ 451,235 Exxon Mobil Corporation $ 434,763 China National Petroleum $ 432,007 BP plc $ 379,136 Saudi Aramco $ 350,000 Vitol Holding B.V. $ 307,000 Total S.A. $ 236,534 Chevron Corp. $ 220,156 Phillips 66 $ 171,596 Gazprom $ 165,016 ENI SpA $ 154,108 Petrobras $ 141,462 Valero Energy $ 138,074 Pemex $ 125,943 PDVSA $ 120,979 Lukoil $ 119,118 Rosneft Oil $ 117,079 JX Holdings $ 111,014 SK Corporation $ 102,122 Statoil ASA $ 102,100 Petronas $ 100,744 Marathon Petroleum Corporation $ 100,160 China National Offshore Oil $ 95,971 PTT Public Company Limited $ 92,556 Indian Oil $ 81,323 Reliance Industries Limited $ 73,332 Pertamina $ 71,102 Repsol SA $ 69,148 BHP Billiton $ 66,003 OMV Group $ 56,308 ConocoPhillips $ 54,413 Idemitsu Kosan $ 50,350 Energy Transfer Equity $ 48,335 Energy Transfer Equity $ 48,335 Enterprise Products Partners LP $ 47,727 CNOOC Ltd $ 47,219 Schlumberger Limited $ 45,266 Bharat Petroleum $ 43,954 Plains All American Pipeline $ 42,249 Plains GP Holdings $ 42,249 GS Caltex $ 41,715 World Fuel Services $ 41,561 source: http://theglobal5000.com/ Hindustan Petroleum Corp. Ltd. $ 38,958 Suncor Energy $ 37,927 CPC $ 37,689 Ecopetrol S.A. $ 37,684 Tesoro Corporation $ 37,601 PKN Orlen Group $ 36,037 Korea Gas Company $ 34,774 CEFC China Energy $ 34,133 Gas Natural Fenosa $ 33,147 GasTerra $ 32,250 Enbridge, Inc. $ 31,978 Formosa Petrochemicals $ 31,333 Cosmo Oil $ 30,863 Imperial Oil Ltd $ 30,797 Showa Shell Sekiyu K.K.
    [Show full text]
  • China Energy 2020
    China EnErgy 2020 Columbia Club September 11, 2014 NatioNal Committee oN China EnErgy UNited StateS -C hiNa RelatioNS Fund CommittEE 中华能源基金委员会 _ _ _ _ _ _ _ _ _ _ hina nErgy _ C E 2020 _ _ _ September 11, 2014 _ _ _ _ _ _ agenda _ _ _ _ _ 6:00 p.m. registration & reception _ _ _ _ 6:30 Welcoming remarks _ _ StEphEn OrlinS , President, national Committee on u.S.-China relations _ _ Zhuang JianZhOng , deputy director, China Energy Fund Committee _ _ international Center _ _ JaSOn BOrdOff , Founding director, Center on global Energy Policy _ _ _ _ introduction of david SandalOW by JaSOn BOrdOff _ _ _ _ ShalE gaS in China _ _ _ david SandalOW , inaugural Fellow, Center on global Energy, _ _ Columbia university _ _ aSOn OrdOff _ Q&a moderated by J B _ _ _ hang uOBaO tEphEn rlinS _ 7:05 introduction of Z g by S O _ _ _ _ China EnErgy tO 2020 _ _ Zhang guOBaO , Chairman, advisory Committee of national Energy _ _ Committee; former Vice Chairman, national development reform _ _ Commission; and former director, national Energy administration of China _ _ _ _ Q&a moderated by david SandalOW _ _ _ _ 7:40 Panel discussion: China’S EnErgy futurE _ _ EnnEth iEBErthal _ moderator: K l , Senior Fellow, John L. thornton China _ _ Center, the Brookings institution _ _ _ _ Panelists: _ _ ChEn WEidOng , Chief Energy researcher, Energy Economics institute, _ _ CnooC _ _ JOanna i.
    [Show full text]
  • The U.A.E. Oil & Gas Sector
    The U.A.E. Oil & Gas Sector Recent Updates January 2019 The U.S.-U.A.E. Business Council is the premier business organization dedicated to advancing bilateral commercial relations. By leveraging its extensive networks in the U.S. and in the region, the U.S.- U.A.E. Business Council provides unparalleled access to senior decision makers in business and government with the aim of deepening bilateral trade and investment. U.S.-U.A.E. Business Council 505 Ninth Street, NW Suite 6010 Washington D.C. +202.863.7285 [email protected] www.usuaebusiness.org EXECUTIVE SUMMARY The United Arab Emirates (U.A.E.), a member of the Organization of the Petroleum Exporting Countries (OPEC) and the Gas Exporting Countries Forum (GECF), has long been an important actor in international oil & gas (O&G) markets. Having consolidated its position in the global hydrocarbon sector, Emirati policymakers are now actively pursuing wide-ranging social, economic, and regulatory reforms with demonstrable impacts on the domestic O&G sector and key international markets. U.A.E. policymakers have explicitly stated that the Emirates, particularly Abu Dhabi, will undertake major strategic investments in midstream and downstream infrastructure to bring domestic producers in line with the U.A.E.’s 2021 national development goals, and the contemporary global hydrocarbon pricing environment, through greater emphasis on high value-added refined and petrochemical products, rather than crude oil exports.1 In support, the Government of Abu Dhabi has already strategically reoriented its national oil company, the Abu Dhabi National Oil Company (ADNOC), to allow the firm’s leadership to augment activities across the hydrocarbon value-chain through the optimization of its organizational structure, a more robust utilization of external funding, significant investments in new and preexisting assets, and the expansion of the company’s strategic partnership frameworks.
    [Show full text]