Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Ibrahim Naimi leaves the hall during the opening day of the 10th Arab energy Conference in Abu Dhabi, United Arab Emirates, Sunday, Dec. 21, 2014. (AP Photo/Kamran Jebreili)

Saudi oil supply outpaces rivals in grab for record China demand

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Record imports by China are contributing to a recovery in benchmark oil from a six-year low amid speculation the purchases will help shrink the global supply glut that drove crude’s collapse in 2014.
Brazil's President Dilma Rousseff (L) shakes hands with workers of Brazilian state-run oil giant Petrobras at Petrobras's shipyards in Rio de Janeiro, on September 11, 2013. (VANDERLEI ALMEIDA/AFP/Getty Images)

China throws multi-billion dollar lifeline to scandal-plagued Petrobras

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Deals signed during the visit of Premier Li Keqiang coincide with Brazilian President Dilma Rousseff’s efforts to kick-start an economy that is forecast to contract 1.2 percent this year, its worst performance in a quarter-century.
The Freeport LNG plant on April 9, 2014 at Quintana, TX.(Thomas B. Shea)

Freeport LNG says it was warned not to sign Chinese customers

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“Early on in our project, we were quite frankly warned by the Department of Energy that it would not be looked at as politically correct for us to have a large Chinese customer,Chief Executive Officer Michael Smith said.
Categories: Asia, featured, LNG
A driver refuels her car at a gas station of PetroChina, a subsidiary of CNPC (China National Petroleum Corporation), in Luoyang city, central China's Henan province, 19 August 2014. (File, Bloomberg)

China to cede top oil buyer spot back to U.S.

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China’s new ranking shows how the U.S. shale boom is reshaping flows of oil around the world as suppliers hunt for buyers amid a global glut. A surge in American production is reducing the need for the world’s biggest economy to import crude while the Asian nation seeks to take advantage of a slump in prices to fill its emergency stockpiles.
(AP Photo/Greg Baker)

PetroChina, Sinopec surge on industry merger speculation

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China National Petroleum Corp., the state-owned parent of PetroChina, hasn’t received any information from the government, nor has it spoken with Sinopec about a merger, Media Director Gong Kai said.
A driver refuels her car at a gas station of PetroChina, a subsidiary of CNPC (China National Petroleum Corporation), in Luoyang city, central China's Henan province, 19 August 2014. (File, Bloomberg)

China’s fuel demand to peak sooner than oil giants expect

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Sinopec has offered a view of the country that should serve as a reality check to any oil bull.
a worker sprays water in the switchyard area of the under- construction coal-fired power plant, partially financed by the Japan Bank for International Cooperation, in Kudgi, India. (AP Photo/Aijaz Rahi)

Japan uses climate cash for coal plants in India, Bangladesh

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Despite mounting protests, Japan continues to finance the building of coal-fired power plants with money earmarked for fighting climate change, with two new projects underway in India and Bangladesh.
(AP Photo/Hasan Jamali)

Asia readies for Iran oil bargains on potential nuclear deal

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As world leaders seek an accord on Iran’s nuclear program, at least six Asian refiners including are anticipating more supply from the Middle East producer if sanctions are lifted.
Jiang Jiemin, chairman of PetroChina, left, is mobbed by journalists after attending an IPO ceremony for PetroChina at the Shanghai Stock Exchange in Shanghai. (AP Photo)

China indicts former oil boss on corruption charges

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Jiang Jiemin was charged with abusing his position at China National Petroleum Corp. and taking bribes, which led to large losses of public money, the national prosecutor’s office said in a statement.
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IEA sees China, India filling strategic reserves with cheap oil

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The two nations are building emergency stockpiles with millions of barrels of crude that mirror the reserves of oil and refined products that the U.S. and its western allies amassed after the first oil crisis of 1973 to 1974.