• 3 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 6 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 11 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 14 minutes Democrats through impeachment process helped Trump go out of China deal conundrum. Now Trump can safely postpone deal till after November 2020 elections
  • 1 hour Shale Oil Fiasco
  • 38 mins Everything you think you know about economics is WRONG!
  • 1 hour USA v China. Which is 'best'?
  • 14 hours Wallstreet's "acid test" for Democrat Presidential candidate to receive their financial support . . . Support "Carried Interest"
  • 2 mins Global Debt Worries. How Will This End?
  • 9 hours My interview on PDVSA Petrocaribe and corruption
  • 23 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 15 hours Quotes from the Widowmaker
  • 21 hours Petroleum Industry Domain Names
Why Oil Prices Just Jumped

Why Oil Prices Just Jumped

Oil prices recovered somewhat on…

Iraq: The Next Great Threat To Global Oil Markets

Iraq: The Next Great Threat To Global Oil Markets

Protests in Iraq have already…

Will Sinopec Save Chesapeake in its Quest for International Market Share?

Chesapeake Energy, the second largest natural gas producer in the US is in trouble, and must sell billions of dollars worth of assets if it hopes to avoid defaulting on its loans; an act that looks unlikely to happen soon enough.

Luckily for Chesapeake, Sinopec has large ambitions which could come to their aid. The Chinese energy company is considering buying into Chesapeake as part of its bid to grow its global market presence and diversify from the refining and distribution end of the market, where it is fed up of having to weather hits from CNOOC, CNPC, and PetroChina. Sinopec have plans to operate in all parts of the supply chain in order to balance their own portfolio, and already hold positions in Gabon, Sudan, and Ethiopia, although they have also been looking to enter more mature markets, especially in Canada.

Unfortunately for Chesapeake, Sinopec is not nearly as wealthy as CNPC, CNOOC, or PetroChina, however if they receive extra funding from the Chinese state, Sinopec could prove to be a  lifesaver for Chesapeake as it looks to focus on unconventional oil and gas in order to increase its knowledge and knowhow for use domestically in China where it estimated that fields could hold 60 billion cubic metres.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play