05/15

2020

Major energy sources are sufficiently supplied, with multiple measures in place to ensure energy security.

Major energy sources are sufficiently supplied, with multiple measures in place to ensure energy security.

Ensuring food and energy security is one of the "Six Guarantees" tasks. Recently, reporters learned from the National Energy Administration that, during the COVID-19 pandemic response, the agency has successively formulated and implemented more than 20 specific measures to bolster national energy security. Currently, the energy sector has largely resumed full-scale production and operations, with ample supplies of key energy commodities. In terms of maintaining robust development and production efforts, the National Energy Administration has proactively addressed the external challenges posed by falling global oil prices to the oil and gas industry. The agency is actively developing diversified supply strategies, strengthening domestic oil and gas exploration, development, and stable production while boosting output. Additionally, it’s accelerating the construction of a comprehensive natural gas production, supply, storage, and sales system, and enhancing the nation’s capacity for oil and gas reserves. At the same time, the administration is vigorously pursuing…

03/20

2020

Two ministries: Fully promote green production and consumption across key areas, industries, and sectors.

Two ministries: Fully promote green production and consumption across key areas, industries, and sectors.

Recently, the National Development and Reform Commission and the Ministry of Justice jointly issued the "Opinions on Accelerating the Establishment of a Green Production and Consumption Regulatory and Policy System" (referred to as the "Opinions"). The "Opinions" clearly state that by 2025, regulations, standards, and policies related to green production and consumption will be further improved, creating a robust institutional framework with effective incentives and constraints. Moreover, green production and consumption practices will be comprehensively implemented across key areas, industries, and critical stages, leading to an overall提升 in China's green development level. The "Opinions" also propose refining the Priority Control Chemicals List, guiding enterprises to adopt non-toxic, harmless, low-toxicity, and environmentally friendly raw materials in their production processes.

03/17

2020

公司党委组织党员自愿捐款支持疫情防控工作

公司党委组织党员自愿捐款支持疫情防控工作

3月2日，为打赢疫情防控阻击战，深入学习贯彻习近平总书记关于疫情防控工作的重要讲话和指示批示精神，按照党中央决策部署，积极响应党中央对广大党员的号召，为抗击疫情贡献一份力量，我公司党委积极组织广大党员有序开展捐款活动，公司三个支部党员共捐款15550元，并将全部款项转交至上级临淄区辛店街道党工委，以实际行动增强"四个意识"、坚定"四个自信"、做到"两个维护"。    

03/02

2020

The resumption rate in the oil and petrochemical industries exceeds 95%, as energy companies strive to ensure a stable and secure energy supply.

The resumption rate in the oil and petrochemical industries exceeds 95%, as energy companies strive to ensure a stable and secure energy supply.

These past few days, while diligently managing COVID-19 prevention and control, central enterprises have seen multiple key engineering projects begin construction one after another. As of now, the resumption rate in the oil and petrochemical industry has exceeded 95%. In Chongqing, to ensure a balanced production, supply, storage, and sales system for domestic natural gas, the city’s largest underground gas storage facility—Xiangguosi Gas Storage—has kicked off emergency gas injection more than a month ahead of schedule, injecting 8 million cubic meters of gas daily to enhance peak-shaving capacity. To further strengthen natural gas reserves and supply capabilities, China National Petroleum Corporation (CNPC) plans to build several new gas storage complexes in the Sichuan-Chongqing region. Zhao Houchuan, spokesperson for CNPC Southwest Oil & Gas Field Company, stated: "We will invest 10 billion yuan to construct the first-ever gas storage facilities within Sichuan Province."

02/13

2020

Shandong Announces Major Chemical Construction Projects for 2020

Shandong Announces Major Chemical Construction Projects for 2020

On the 12th, the Shandong Provincial Government website released the "Notice of the People's Government of Shandong Province on Issuing the List of Major Provincial Projects for 2020" (hereinafter referred to as the "Notice"), announcing both the list of major construction projects and the list of major preparatory projects in Shandong Province for 2020. Notably, the 2020 list of major chemical construction projects in Shandong Province includes: the Yulong Island Refining and Chemical Integration Project with an annual refining capacity of 20 million tons, Li Hua Yi Lizhen Refining and Chemical's 400,000-ton-per-year high-performance ABS resin project along with its 171,000-ton-per-year acrylonitrile facility, Jineng Technology's 900,000-ton-per-year high-performance polypropylene project, and Shandong Jinghai Chemical Co., Ltd.'s 400,000-ton-per-year production facility.

02/08

2020

公司向临淄区红十字会捐款100万元驰援抗击疫情

公司向临淄区红十字会捐款100万元驰援抗击疫情

02/04

2020

Dushanzi Petrochemical Facility Operates at Full Capacity, Fully Ensuring Fuel Supply

Dushanzi Petrochemical Facility Operates at Full Capacity, Fully Ensuring Fuel Supply

In recent days, Dushanzi Petrochemical Company has actively implemented epidemic prevention and control measures, strengthening management and monitoring at production sites and critical areas to ensure a steady supply of medical-grade materials and sufficient oil products for the market. On February 1, employees at the Dushanzi Refinery's Control Center were seen wearing masks as they disinfected office equipment on-site. Guo Qiang, Deputy Director of the Hydrocracking Unit at the refinery, explained: "To maintain high-capacity production of essential chemical products like raw materials for mask manufacturing at the ethylene plant, our 2-million-ton-per-year hydrocracking unit has been operating steadily at a load of 210 tons per hour. Through optimized adjustments, it’s now supplying 90 tons of hydrotreated residual oil per hour to the ethylene production unit. Meanwhile, aviation fuel and diesel supplies remain fully adequate to meet demand."

01/20

2020

Energy supply and demand remain stable overall, with significant achievements in energy conservation and consumption reduction.

Energy supply and demand remain stable overall, with significant achievements in energy conservation and consumption reduction.

In 2019, China steadily advanced its new energy security strategy of "Four Revolutions and One Cooperation," focusing on the green and low-carbon transition. The country continued to deepen structural reforms on the supply side of the energy sector, ensuring both reasonable growth in energy output and steady improvements in quality. **I. Energy Production Stabilizes While Gradually Slowing Down** In 2019, China further promoted the optimization and reduction of substandard coal production, while orderly expanding high-quality, advanced energy capacity. At the same time, the nation actively pushed for increased oil and gas reserves and output, as well as enhanced consumption of clean energy. Efforts were also intensified to strengthen energy transportation infrastructure, thereby safeguarding safe energy production and ensuring an effective supply. Meanwhile, China’s strategic efforts to reduce excess coal capacity continued to deepen, leading to a slight deceleration in raw coal production growth. In 2019, large-scale enterprises…

01/15

2020

In 2020, CNOOC's exploration and development investment exceeded 66.3 billion yuan, with production reaching over 520 million barrels of oil equivalent.

In 2020, CNOOC's exploration and development investment exceeded 66.3 billion yuan, with production reaching over 520 million barrels of oil equivalent.

On January 13, CNOOC held its 2020 Business Strategy and Development Plan press conference in Hong Kong. During the event, CNOOC announced that the company’s targeted net oil and gas production for 2020 would reach 520 million to 530 million barrels of oil equivalent, representing a year-on-year increase of 3.34% to 5.37%. Of this total, approximately 64% will come from China, while overseas operations will account for about 36%. CNOOC noted that its net oil and gas production in 2019 is expected to exceed the initial annual target, reaching around 503 million barrels of oil equivalent. Looking ahead, CNOOC forecasts its net oil and gas output to climb further to approximately 555 million barrels of oil equivalent in 2021 and 590 million barrels of oil equivalent in 2022. Notably, the share of domestic oil and gas production is projected to decline to 59%, while overseas production is set to rise to 41%. In 2020, CNOOC has allocated a total capital expenditure budget of RMB 85 billion to RMB 95 billion. Among these expenditures, investments in exploration, development, production, and other areas are expected to account for roughly 20%, 58%, 20%, and 2% of the total, respectively. Based on this breakdown, CNOOC’s planned capital spending on exploration and development in 2020 is estimated at RMB 66.3 billion to RMB 74.1 billion, reflecting an increase of nearly 20% compared to the previous year. For reference, in 2019, CNOOC’s total capital expenditure was between RMB 70 billion and RMB 80 billion, with exploration and development investments accounting for a combined 79%, totaling RMB 55.3 billion to RMB 63.2 billion. In 2020, CNOOC plans to drill 227 exploration wells and acquire approximately 27,000 square kilometers of 3D seismic data. The company also anticipates the commissioning of ten new projects throughout the year, including adjustments to Area 4 of the Penglai 19-3 oilfield and Phase II of the Penglai 19-9 oilfield in China’s offshore waters, as well as the first phase of the Qinhuangdao 33-1 South Oilfield, the pilot development area of the Bohong 19-6 condensate gas field, the joint development project involving Luda 16-3 and 21-2, and the S1 well area of the Nanbao 35-2 oilfield, among others. CNOOC Chief Financial Officer Xie Weizhi emphasized that the company will continue to maintain competitive per-barrel oil costs, uphold prudent investment decisions, and ensure that capital expenditures are executed efficiently according to plan. According to CNOOC’s financial report for the first half of 2019, the company’s key cost per barrel of oil fell below $30, reaching $28.99/barrel—a further 8.9% decrease year-on-year. CNOOC CEO and President Xu Keqiang stated that in 2020, the company will steadily boost its oil and gas reserves and production, focusing on achieving profitable growth in both reserves and output. CNOOC also highlighted that technological advancements hold the potential to unlock vast reserves of heavy crude oil. Currently, the company has identified approximately 600 million tons of heavy oil reserves in the Bohai Sea region, yet only about 100 million tons have been developed so far. Thermal recovery methods are currently contributing less than 100,000 tons annually to production.

12/31

2019

The Party Committee of the Company Held Its 2019 Democratic Life Meeting

The Party Committee of the Company Held Its 2019 Democratic Life Meeting

On the morning of December 28. 2019. the company's Party Committee convened its 2019 democratic life meeting in Qingdao. Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the meeting thoroughly studied and implemented the spirit of the “Remain True to Our Original Aspiration and Keep Our Mission Firmly in Mind” education campaign.

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