Abstract ConocoPhillips said that it has stopped cooperating with PetroChina in the Neijiang area and Sinopec in the Lancang area. Currently there are no projects under exploration in China. Earlier, US mid-sized oil companies Anadarko Petroleum, Ameradahes and others have announced their withdrawal from China...
ConocoPhillips said recently that it has stopped cooperating with CNPC in the Neijiang area and Sinopec in the Lancang area. Currently there are no projects under exploration in China. Earlier, US mid-sized oil companies Anadarko Petroleum, Ameradahes and others have announced their withdrawal from the upstream industry of shale gas in China. Shell, Chevron, etc. have also reported that the shale gas project in China has been blocked. The industry believes that due to the lack of optimistic about the future prospects, international oil giants are accelerating the withdrawal of China's shale gas market in the context of continued low oil prices and increased exploration risks. ConocoPhillips suspends shale gas exploration in China
ConocoPhillips said that the suspension of cooperation with PetroChina and Sinopec on shale gas exploration is mainly due to commercial considerations, ensuring that funds and resources are invested in projects with the best commercial viability.
It is understood that ConocoPhillips signed a joint research agreement with Sinopec in the 440,700 hectares of the Hanjiang block for shale gas exploration and development in 2012. Subsequently, in February 2013, ConocoPhillips signed a 20.23 with PetroChina. The production share of the 10,000-hectare Neijiang-Dazu block is divided into contracts. For ConocoPhillips to stop exploring domestic shale gas projects, Beijing Business Daily reporter contacted PetroChina and Sinopec yesterday, but as of press time, it still did not receive a reply.
Lin Boqiang, director of the China Energy Economic Research Center of Xiamen University, pointed out that the suspension of exploration of ConocoPhillips will not have a substantial impact on PetroChina and Sinopec. First, ConocoPhillips has only two gas blocks with PetroChina and Sinopec, accounting for a very low proportion. Secondly, PetroChina and Sinopec have made significant progress in the development of shale gas. Some gas block production has been considerable. The development of shale gas of CNPC and Sinopec will not stop because of the withdrawal of ConocoPhillips.
Since 2014, PetroChina has invested more than 10 billion yuan in shale gas, and this year's shale gas production will reach 2.6 billion cubic meters. On July 7, Sinopec announced that the total number of drillings in the Fuling shale gas field exceeded one million meters, and the daily gas production capacity exceeded 10 million square meters. The commercial development of shale gas achieved initial results.
International giants have quit shale gas business
In fact, not only the Chinese market, but also international oil companies are speeding up their shale gas business. In early June, ConocoPhillips announced the end of shale gas exploration in Poland due to unsatisfactory exploration results. In March, Shell announced its withdrawal from the South African shale gas project due to low energy prices; in February, France's Total announced that it would suspend all shale gas investments in the United States.
“The competitor of shale gas is natural gas, and the price of natural gas is linked with the price of oil. The current price of oil is very low, which indirectly drives down the price of natural gas. In this case, the cost of shale gas is obviously too high, not available. Competitiveness. If the price of oil is maintained at $50 a barrel, there is no need for shale gas," Lin Boqiang said.
Since June 20, 2014, international oil prices have fallen in a cliff-like manner due to the decline in demand, the appreciation of the US dollar, geopolitical disputes, the OPEC production of the Organization of Petroleum Exporting Countries, and the increase in US shale gas oil production. As of May this year, although the international oil price has rebounded slightly, it is still hovering in the low zone of 60-65 US dollars per barrel.
Wang Qihao, an analyst at Longzhong Petrochemical Network, believes that the shale gas project itself is a burning industry. At a time when international oil prices continue to fall, the alternative advantages of emerging energy are weakening, and it is reasonable for international oil companies to withdraw from shale gas exploration. . But this does not mean a permanent exit. If the international oil price rebounds and the time is ripe, these international oil companies will continue to develop shale gas.
China's shale gas mining is cold
Although PetroChina and Sinopec are in full swing in the development of shale gas, it is difficult to hide the fact that domestic shale gas development is cold. In 2012 and 2013, the Ministry of Land and Resources successively launched the bidding for exploration rights for the first and second rounds of shale gas in the country. The third round of shale gas block bidding has not been held.
On November 3, 2014, the official information of the Ministry of Land and Resources showed that China Petroleum and Chemical Corporation and Henan CBM Development and Utilization Co., Ltd. were the result of the expiration of the exploration of the exploration rights of the first two shale gas tendering blocks. The proportion of the surveyed inputs that have not been completed has been paid, and the liquidated damages are about 8 million yuan and 6 million yuan respectively, and the area of ​​the exploration block is reduced.
Liu Guangbin, an analyst at Zhuochuang Natural Gas, admitted that the current investment and output of shale gas in China is not optimistic. Two rounds of shale gas bidding have been carried out in China, but in fact, Sinopec has made some achievements, and the Fuling demonstration area has appeared. In such a pilot, most other companies do not have much production. Moreover, due to insufficient investment in exploration, penalties have been imposed, so the prospect of shale gas in China has been discounted.
The National Energy Administration also lowered the production of shale gas in China in 2020 at the 13th Five-Year Energy Planning Conference. By 2020, the output of shale gas and coalbed methane will reach 30 billion cubic meters. It has been lowered by half.
In Wang Qihao's view, if oil prices continue to be sluggish, the country does not have considerable policy support. Even if some enterprises have the willingness to join, it is difficult to implement based on long-term funding considerations. Overall, the trend of shale gas development is inevitable.
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