• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours Evergrande is going Belly Up.
  • 3 hours World’s Biggest Battery In California Overheats, Shuts Down
  • 12 hours U.S. Presidential Elections Status - Electoral Votes
  • 3 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 6 hours Poland Expands LNG Powered Trucking and Fueling Stations
  • 1 day And now, hybrid electric locomotives...
  • 12 hours Ozone layer destruction driving global warming
  • 1 day The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 11 hours The coming Cyber Attack
  • 11 hours Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 14 hours 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers
  • 1 day The Painful Death of Coal
Is Blue Hydrogen Better Than No Hydrogen?

Is Blue Hydrogen Better Than No Hydrogen?

Blue hydrogen has come under…

The Major Beneficiary Of The Afghanistan Crisis

The Major Beneficiary Of The Afghanistan Crisis

Following the Taliban takeover of…

China's Historic Decision To Stop Hoarding Oil

China's Historic Decision To Stop Hoarding Oil

China has made a historic…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

Is China About To Open Up Its Oil Industry?

Brief but extremely interesting note from China this week. Suggesting that an unparalleled opportunity in the energy space may be coming available here.

That’s in the Chinese oil and natural gas industries. Where it appears the government may be about to open up former government-only sectors to outside investment, for the first time ever. Related: Horizontal Land Rig Count Summary 4th March 2016

That was the plan outlined by the head of the National Development and Reform Commission (NDRC), Xu Shaoshi, at a press conference in Beijing yesterday. With this influential official saying that China will launch pilot programs for “mixed ownership” in oil and gas industries currently run by state-owned enterprises.

The NDRC chief didn’t specify what exact oil and gas opportunities might come open for outside investment. But the mere suggestion of such a strategy is intriguing — and could mean openings coming in the Chinese E&P sector, pipelines, services, and other ancillaries. Related: Ultra-Bearish Headlines As A Contrarian Signal For Oil

The news of the mixed ownership program was particularly interesting in light of another announcement from China last week. Where one of the country’s biggest oil and gas players said it is offering up a slate of offshore drilling opportunities for foreign partners.

That was China National Offshore Oil Corp (CNOOC). Which has reportedly offered 18 offshore blocks in Chinese waters for tender.

According to Reuters, the licenses on offer include acreage in the Bohai Bay, South Yellow Sea, Pearl River Mouth, Yinggehai, and Qiong Dongnan basins. With some of the blocks covering deepwater plays — where CNOOC will reportedly offer preferential terms to attract skilled partners. Related: Oil Posts Gains In Less Volatile Markets

Bidders for the blocks will be able to attend an upcoming data room in Tianjin, Shanghai, Guangzhou, and Zhangjiang. And then purchase further information on the tendered blocks — ahead of an October 31 deadline for bids.

All of which is extremely interesting in its timing — seeming to support the statements from the NDRC that China is serious about bringing the private sector into former state-only ventures in oil and gas. Watch for announcements on further energy investment opportunities across China.

Here’s to new China hands

By Dave Forest

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Michael H on March 07 2016 said:
    A communist led government that arrests it's own 'citizens' when they become too successful and sends them off for 'investigation'?
    Even their own language betrays something a lot darker to anyone who has read an elementary history of the party's creation and its' ultimately self serving destructive ways.
    I wouldn't put one cent into such a country for fear of the executives of that 'company' being sent off to a 're-education' camp and possibly being replaced with a doppelgänger or much more simply coming back 'taught' to follow the party's' orders to the detriment of any foreign investor or investment group.
    I've never worried about foreign investment in my own country, even by our communist friends as I know that in the end the government or people can simply reappropriate the asset/s if necessary for the good of the nation and even more so could imagine that happening at the whim of what is basically a dictatorship.
    Just look at what happens each time a new clique comes into power in such countries- the former leaders and their entourage or circle of friends/family/henchmen are basically eliminated, most of the time financially and many times physically.
    When a nation intentionally robs it's trading 'partners' by constantly aquiring their technology through outright theft, why would anyone think that they won't just take any monies or technology invested there?
    It truly is laughable.
    This is in now way meant to diminish the article written above.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News