US exports crude oil to China

Men work the oilfields in California. US crude oil production will soon surpass oil imports. Photo: MCT

The US has started exporting crude oil to China for the first time since 2005, which analysts say gives Washington additional leverage in Sino-US relations and has major implications for the global oil market.

Thursday, 18 April, 2013, 5:54am

Canadian oil sands lure Chinese investors (video)

Work in progress at an oils sands project in Fort McMurray.

In 1778 when Alexander MacKenzie first sighted a sticky black substance in Canada, he wrote in his journal that the locals mixed it with spruce gum to waterproof their canoes. MacKenzie, one of the first Europeans to report seeing oil sands in Canada's Alberta province, also mentioned that heating the oil sands caused them to smell like black coal.

That, for the moment, was that.

13 Nov 2012 - 2:20pm

Briefs, October 1, 2012

The explosion in Himeji, Japan, killed a fireman. Photo: AFP

Diaper shortage feared after Japanese blast

1 Oct 2012 - 4:42am

Honghua Group steps up push on making tools for drilling

A natural gas appraisal well is seen behind a treatment pond of drilling waste. Honghua Group is seeking the technology to unlock gas trapped in rock formations. Photo: Reuters

Honghua Group, the mainland's largest maker of rigs for land-based oil and gas drillers, is eyeing opportunities to buy or co-operate with more firms with expertise in making drilling equipment used in unconventional energy exploitation.

7 Sep 2012 - 3:42am

Peak oil nuts may be right, but for all the wrong reasons

I've never had much time for the peak oil prophets of doom. To me they always seemed first cousins to the kind of people who hide out in log cabins in the back hills of Montana surrounded by plentiful stocks of canned food and shotgun cartridges, waiting for the collapse of civilisation.

27 Jun 2012 - 12:00am

Shanghai exchange set for oil futures

The Shanghai Futures Exchange plans to launch China's first crude-oil futures contracts this year, inviting foreign investors to participate in Beijing's latest attempt to burnish its global economic clout.

29 May 2012 - 12:00am

Honghua to target shale gas projects

Honghua Group, one of the world's largest producers of land-based oil and gas drilling rigs, plans to take minority stakes in shale gas exploration projects on the mainland in a bid to forge closer ties with its customers.

28 May 2012 - 12:00am

Swire to expand offshore fleet

Investment holding company Swire Pacific will spend US$1.2 billion over the next few years buying more than 20 new offshore support vessels to expand and upgrade its existing fleet of 77 ships.

17 May 2012 - 12:00am

Rongsheng eyes US$800m deal to construct oil rigs

China Rongsheng Heavy Industries is set to make its first foray into the offshore-rig-building market with a deal potentially worth up to US$800 million from a Singapore-based company.

The mainland's largest private shipbuilder and PrimePoint Oil & Gas, an offshore hydrocarbons exploration firm, are in talks for the construction of up to four rigs.

12 May 2012 - 12:00am

Noble positive on Mongolia, eyes US shale

Noble is eyeing opportunities in the United States shale gas market and could see positive developments in its Mongolian mining joint venture by the end of this year, a senior executive said yesterday.

The Hong Kong-headquartered, Singapore-listed commodities group said it was also less exposed to Africa and that there were 'one or two' areas of interest it was investigating.

11 May 2012 - 12:00am

Natural gas supply expected to surge

The contribution of unconventional natural gas to the mainland's supply is expected to surge to 30 per cent of total supply by the end of this decade from 1.5 per cent currently, according to an industry expert.

23 Apr 2012 - 12:00am

China playing catch-up on electric vehicles

China will move faster to develop its clean-energy vehicle industry to regain ground lost to the United States and tackle the pressing issue of rising fuel consumption at home, the State Council says.

19 Apr 2012 - 12:00am

Price controls hit PetroChina profit

PetroChina, the nation's largest oil and gas producer, is pinning its hopes on more favourable government energy pricing and tax policies this year to reverse last year's fall in profits.

30 Mar 2012 - 12:00am

China still long way from shale gas extraction

China's development of its vast shale gas resources is at an exploratory stage and significant commercial output is a long way off, according to CNOOC, the nation's dominant offshore oil and gas producer.

29 Mar 2012 - 12:00am

Beware the shifting sands

Sunshine Oilsands, founded by Canadian oil and gas industry veteran Michael Hibberd and geologist Shen Songning in 2007, is seeking to raise up to US$700 million in Hong Kong's first initial public offering of an oil sands developer.

17 Feb 2012 - 12:00am