OPEC, for some quiet moments..

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According to CNPC, the state-owned oil and gas giant, natural gas imports could jump to as much as 270 billion cubic meters annually by 2030. To put this in perspective, gas imports in 2015 totaled 53 billion cubic meters, with total consumption that year reaching 200 billion cubic meters. The increase will come largely thanks to a general shift toward cleaner energy sources as China seeks to clean up its image as one of the biggest polluters in the world. The shift is also part of a government strategy to move away from heavy industry to services as a growth driver.

China Could Quadruple Gas Imports By 2030 | OilPrice.com

Estimates by Bloomberg have shown that oil majors have doubled their combined debts to US$138 billion since 2014. That’s also a staggering tenfold jump from the 2008 total oil major debts. Looking at the Q2 balance sheets of some oil majors, we see debts rising, cash flows dropping, capex diminishing, but dividends firmly held, and in Exxon’s (NYSE:XOM) case, even raised by 2.7 percent compared with the second quarter of 2015—the same quarter in which Exxon’s earnings plunged 59 percent annually.

The Consequences Of Big Oil’s Exploding Debt | OilPrice.com

China’s crude imports fell to the lowest level in six months as demand from independent refineries eased. Net fuel exports surged to a record. The world’s biggest energy user imported 31.07 million metric tons of crude in July, according to data released by the General Administration of Customs on Monday. That’s about 7.35 MMbpd, the slowest pace since January. Meanwhile, net fuel exports jumped to 2.49 million tons last month.

China crude imports fall to 6-month low as teapot demand slows

The Organization of Petroleum Exporting Countries will hold informal talks at a conference in Algiers next month and considers the recent decline in oil prices “temporary,” the group’s president said Monday. “Expectation of higher crude oil demand in the third and fourth quarters of 2016, coupled with decrease in availability, is leading the analysts to conclude that the current bear market is only temporary and oil price would increase during later part of 2016,” Mohammed Al Sada, Qatar’s energy minister and holder of OPEC’s rotating presidency, said in a statement on the group’s website. Members constantly discuss ways to stabilize the market, he said.

OPEC plans informal talks next month, sees oil dip temporary