As decarbonization pressure on traditional fossil fuel-related industries gradually intensifies,CCUS has been increasingly incorporated into energy transition strategies by various oil companies.From a development opp...As decarbonization pressure on traditional fossil fuel-related industries gradually intensifies,CCUS has been increasingly incorporated into energy transition strategies by various oil companies.From a development opportunity perspective,oil companies possess four key advantages in developing the CCUS industry:exploration and development technology advantages;geological resource advantages;capital advantages;source-sink matching advantages.In terms of challenges,oil companies face numerous issues in developing the CCUS industry,including technological development,economic viability,and policy and legal aspects.At the national level,China’s oil companies should advocate for improving and optimizing relevant laws and regulations,enhancing the policy support system,incorporating CCUS into the carbon trading market,and strengthening top-level design and medium-to long-term planning;at the enterprise level,they should continuously advance full industrial chain technologies and reduce CCUS project operating costs,selectively participate in industrial segments that suit their capabilities,strengthen CCUS full industrial chain operational capabilities,and enhance talent development and strengthen international exchange and cooperation.展开更多
On April 2,the United States announced the implementation of the so-called“reciprocal tariffs”plan.Combined with factors such as the OPEC+plan to increase production starting in May,this led to a continuous plunge i...On April 2,the United States announced the implementation of the so-called“reciprocal tariffs”plan.Combined with factors such as the OPEC+plan to increase production starting in May,this led to a continuous plunge in the benchmark oil prices of WTI and Brent over the subsequent three trading days.Despite the significant impact of the United States’“reciprocal tariffs”plan on the global political and economic landscape,the fundamental dynamics of supply and demand remain the decisive factors in the fluctuations of international oil prices.The current trend of international oil price fluctuations is still primarily driven by the supply side,with both supply and demand factors playing a role.Investment,costs,and resource constraints on the supply side do not allow for a significant increase in crude oil production,while“consumption rigidity”on the demand side does not permit a significant decrease in crude oil demand.As a result,International oil prices are expected to fluctuate in the short term,but a significant decline is unlikely to be sustained in the near to medium term.In this context,Chinese oil companies should focus on four key areas to ensure the security of national oil and gas supplies:first,promoting high-quality increases in domestic oil and gas reserves and production;second,steadily strengthening the acquisition of overseas oil and gas resources;third,continuously driving innovation in oil and gas exploration and development technologies;fourth,enhancing the capacity for domestic oil and gas reserves in an orderly manner.展开更多
Since 2011,America has maintained its position as the world’s largest natural gas producer.Since 2017,America has consistently experienced a surplus in natural gas supply,becoming a net exporter of natural gas.Americ...Since 2011,America has maintained its position as the world’s largest natural gas producer.Since 2017,America has consistently experienced a surplus in natural gas supply,becoming a net exporter of natural gas.America’s“natural gas independence”has reshaped the global natural gas market,creating a new pattern of“supply shifting westward and consumption shifting eastward”.展开更多
In 2024,the global LNG market exhibits an uncertain development trajectory amidst complex challenges,including weak global economic growth,heightened geopolitical risks in the oil and gas sector,and increasingly strin...In 2024,the global LNG market exhibits an uncertain development trajectory amidst complex challenges,including weak global economic growth,heightened geopolitical risks in the oil and gas sector,and increasingly stringent global climate and environmental governance measures.展开更多
The global oil price fluctuated widely at a high level throughout 2022 due to the combined impact of limited investment growth in global upstream oil and gas,the increasing regional geopolitical risks of oil and gas d...The global oil price fluctuated widely at a high level throughout 2022 due to the combined impact of limited investment growth in global upstream oil and gas,the increasing regional geopolitical risks of oil and gas driven by the Ukraine Crisis,and a slower global economic growth resulting from repeated COVID-19 outbreaks,which exerted a negative influence on the global oil and gas resource M&A market.The total number of global oil and gas resource M&A transactions in 2022 was only 215,down by 19%from 2021 and close to the lowest level in 20 years.The total amount of M&A transactions was only USD 88 billion,down by about 36%from 2021.The global oil and gas M&A market in 2022 had four overall characteristics:First,the number and amount of transactions worldwide showed a“double decline”trend,with the number of transactions in Africa hitting an eight-year high;second,the overall amount of M&A transactions by various international oil companies decreased,and international oil giants continued to sell“non-core”oil and gas assets;third,the Implied Long-Term Oil Price continued to rise,with significant differences from the trend of international oil prices;fourth,in North America,unconventional oil and gas asset transactions remained active,and the amount of oil sand transactions approached the highest value in nearly 10 years.Looking forward to 2023,with the international oil price fluctuating at a high level and the global epidemic gradually becoming stable,it is expected that M&A activities in Africa and South America will significantly increase,international oil giants will seek transactions on both the buying and selling sides,and unconventional oil and gas resource transactions in North America will still be a market hotspot.展开更多
In 2017,due to the intensified implementation of the ‘changing coal into gas' policy in the northern area and the gas supply shortage in Central Asia,China's LNG imports greatly increased,leading to our count...In 2017,due to the intensified implementation of the ‘changing coal into gas' policy in the northern area and the gas supply shortage in Central Asia,China's LNG imports greatly increased,leading to our country overtaking South Korea as the world's second largest LNG importer.In this process,the demand for LNG in the northern area of our country increased substantially,leading to relatively large differentiation development in the LNG imports of ‘three barrels of oil(CNPC,SINOPEC and CNOOC)',exposing the insufficiency of supporting infrastructure construction for the development of the LNG business in our country,and triggering the government,enterprises and academic circles to pay great attention to ensuring the safety of the domestic natural gas consumption market.Nevertheless,according to a comprehensive analysis of the external environment,internal market,business entities and policy orientation,China's LNG import business is still on the rise,and extensive room remains for progress in the future.展开更多
文摘As decarbonization pressure on traditional fossil fuel-related industries gradually intensifies,CCUS has been increasingly incorporated into energy transition strategies by various oil companies.From a development opportunity perspective,oil companies possess four key advantages in developing the CCUS industry:exploration and development technology advantages;geological resource advantages;capital advantages;source-sink matching advantages.In terms of challenges,oil companies face numerous issues in developing the CCUS industry,including technological development,economic viability,and policy and legal aspects.At the national level,China’s oil companies should advocate for improving and optimizing relevant laws and regulations,enhancing the policy support system,incorporating CCUS into the carbon trading market,and strengthening top-level design and medium-to long-term planning;at the enterprise level,they should continuously advance full industrial chain technologies and reduce CCUS project operating costs,selectively participate in industrial segments that suit their capabilities,strengthen CCUS full industrial chain operational capabilities,and enhance talent development and strengthen international exchange and cooperation.
文摘On April 2,the United States announced the implementation of the so-called“reciprocal tariffs”plan.Combined with factors such as the OPEC+plan to increase production starting in May,this led to a continuous plunge in the benchmark oil prices of WTI and Brent over the subsequent three trading days.Despite the significant impact of the United States’“reciprocal tariffs”plan on the global political and economic landscape,the fundamental dynamics of supply and demand remain the decisive factors in the fluctuations of international oil prices.The current trend of international oil price fluctuations is still primarily driven by the supply side,with both supply and demand factors playing a role.Investment,costs,and resource constraints on the supply side do not allow for a significant increase in crude oil production,while“consumption rigidity”on the demand side does not permit a significant decrease in crude oil demand.As a result,International oil prices are expected to fluctuate in the short term,but a significant decline is unlikely to be sustained in the near to medium term.In this context,Chinese oil companies should focus on four key areas to ensure the security of national oil and gas supplies:first,promoting high-quality increases in domestic oil and gas reserves and production;second,steadily strengthening the acquisition of overseas oil and gas resources;third,continuously driving innovation in oil and gas exploration and development technologies;fourth,enhancing the capacity for domestic oil and gas reserves in an orderly manner.
文摘Since 2011,America has maintained its position as the world’s largest natural gas producer.Since 2017,America has consistently experienced a surplus in natural gas supply,becoming a net exporter of natural gas.America’s“natural gas independence”has reshaped the global natural gas market,creating a new pattern of“supply shifting westward and consumption shifting eastward”.
文摘In 2024,the global LNG market exhibits an uncertain development trajectory amidst complex challenges,including weak global economic growth,heightened geopolitical risks in the oil and gas sector,and increasingly stringent global climate and environmental governance measures.
文摘The global oil price fluctuated widely at a high level throughout 2022 due to the combined impact of limited investment growth in global upstream oil and gas,the increasing regional geopolitical risks of oil and gas driven by the Ukraine Crisis,and a slower global economic growth resulting from repeated COVID-19 outbreaks,which exerted a negative influence on the global oil and gas resource M&A market.The total number of global oil and gas resource M&A transactions in 2022 was only 215,down by 19%from 2021 and close to the lowest level in 20 years.The total amount of M&A transactions was only USD 88 billion,down by about 36%from 2021.The global oil and gas M&A market in 2022 had four overall characteristics:First,the number and amount of transactions worldwide showed a“double decline”trend,with the number of transactions in Africa hitting an eight-year high;second,the overall amount of M&A transactions by various international oil companies decreased,and international oil giants continued to sell“non-core”oil and gas assets;third,the Implied Long-Term Oil Price continued to rise,with significant differences from the trend of international oil prices;fourth,in North America,unconventional oil and gas asset transactions remained active,and the amount of oil sand transactions approached the highest value in nearly 10 years.Looking forward to 2023,with the international oil price fluctuating at a high level and the global epidemic gradually becoming stable,it is expected that M&A activities in Africa and South America will significantly increase,international oil giants will seek transactions on both the buying and selling sides,and unconventional oil and gas resource transactions in North America will still be a market hotspot.
文摘In 2017,due to the intensified implementation of the ‘changing coal into gas' policy in the northern area and the gas supply shortage in Central Asia,China's LNG imports greatly increased,leading to our country overtaking South Korea as the world's second largest LNG importer.In this process,the demand for LNG in the northern area of our country increased substantially,leading to relatively large differentiation development in the LNG imports of ‘three barrels of oil(CNPC,SINOPEC and CNOOC)',exposing the insufficiency of supporting infrastructure construction for the development of the LNG business in our country,and triggering the government,enterprises and academic circles to pay great attention to ensuring the safety of the domestic natural gas consumption market.Nevertheless,according to a comprehensive analysis of the external environment,internal market,business entities and policy orientation,China's LNG import business is still on the rise,and extensive room remains for progress in the future.
