China Shale News Review – May 12 , 2023
◊ Qinghai Oilfield Has Achieved Most of Oil and Gas Targets in 2023
As of May 8, Qinghai Oilfield has completed 32.73% and 36.66% of the oil and gas task targets for 2023.
◊ China National Offshore Oil and Gas Production Record High in 2022
China National Offshore Oil Corporation’s production and operation performance in 2022 reached the best level in history. Over the past decade, it has cumulatively paid over trillion yuan in profits and taxes.
◊ First Carbon Dioxide Injection System in China
The carbon dioxide injection system of CNOOC Enping 15-1 central platform runs smoothly for 12 hours under rated operating conditions, and the operating parameters of the carbon dioxide compressor and molecular sieve are normal.
◊ Sichuan Expands Energy Investment by Nearly 50 Billion Yuan
Sichuan’s investment in energy projects in the first seven months was 49.3 billion yuan (+4.0% yoy). Among them, the investment in oil and gas projects was 15.9 billion yuan (+8.9% yoy).
◊ March Business Revenue Decreased and Industrial Enterprise Profit Expected to Accelerate Rise
In March, the business income of Industrial Enterprises above the national scale increased by 0.6% year-on-year. Profit fell 19.2% year-on-year.
(Source: Energy China Forum)
