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China is believed to have built up massive stockpile of oil under its government-managed strategic petroleum reserve

China’s Oil Reserve may Subvert any OPEC Move to Push up Petroleum Prices

Sep 28, 2016 12:53 PM EDT

Members of the Organization of Petroleum Exporting Countries (OPEC) are scheduled to hold an informal meeting in Algiers later this week. The continuous decline in oil prices is likely to be the main agenda at the meeting. However, experts believe that China's oil reserves may subvert any decision taken by OPEC members to push up petroleum prices.

Russian Oil Stops Flowing To Western Europe Thru Belarus

China May Quadruple Gas Imports by 2030

Charissa Echavez |

Aug 09, 2016 03:53 PM EDT

China may increase its gas imports from 53 billion cubic meters per year to between 190-270 billion by 2030, according to Li Yueqiang, head of the China National Petroleum Corp. (CNPC) International Department.

China's PetroChina Co. posted the highest liability among non-financial A-share companies with more than $1.05 trillion yuan ($162.8 billion).

PetroChina's Liabilities Amount to 1 Trillion Yuan

Charissa Echavez |

Apr 11, 2016 04:05 PM EDT

PetroChina, the country's biggest oil producer, posted the highest amount of liabilities among all non-financial A-share firms with 1.05 trillion yuan ($162.8 billion), the worst in nearly two decades.

China National Offshore Oil Corporation's (CNOOC) oil rig is seen in China's Bohai Sea.

China Becomes World's Second Largest Oil Refining Country

Iesha javed |

Mar 22, 2016 09:15 AM EDT

According to the 2016 China Oil and Gas Industry Development Analysis and Development Report, issued by the China Petroleum Enterprise Association and China Oil and Gas Industry Development Research Center on March 21, China is the world's second largest oil refining country after the United States.

Petrochina discovers 100 million tonnes of shale

PetroChina Makes China's Biggest Shale Deposit Discovery

Camille Harthy |

May 28, 2015 01:28 PM EDT

A unit of state-owned China National Petroleum Corp. has discovered over 100 million tonnes of oil in north-west China, the biggest shale discovery in the nation to date.

Asian Shares Advance On Bullish Oil And U.S. Markets

Dino Lirios |

Feb 04, 2015 08:00 PM EST

The greater Asian markets sustained its hawkish streak led by energy gains and the oil price rebound.

King Abdullah Ends 9-Year Reign, Salman is New King of Saudi Arabia

Vittorio Hernandez |

Jan 23, 2015 12:52 AM EST

After three weeks of confinement in the hospital, Saudi Arabia King Abdullah died on early Friday morning, ending nine years of reign that began in 2006. With his death, the new king is his brother Salman, while the crown prince and heir of the new king is half-brother Muqrin.

This October 2010 photo provided by Penn State University shows the arms of a brittle starfish, red in color, clinging to coral damaged by the Macondo well in the Gulf of Mexico.

Huge Bathtub Ring of Oil Found on Sea Floor and Linked to BP Spill

Dino Lirios |

Oct 30, 2014 02:20 AM EDT

A bathtub ring of oil has been discovered on the sea floor, as an effect from BP's historic oil spill in the Gulf of Mexico. It is a 1,235 square-mile bathtub ring of oil on that deep ocean's floor.