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China's oil major PetroChina said on Thursday its ​Dushanzi Petrochemical unit's 1.2 million ‌metric tons per year ethylene project in Xinjiang had started up ​successfully on the first ​attempt.

Chinese energy company PetroChina is this ​year focused on defining ‌well locations in Suriname, where it participates in ​two shallow-water blocks, ​and drilling is expected to ⁠begin in 2027, ​the firm's head for the ​South American country said on Wednesday.

China's oil consumption is expected to drop in 2026 amid a pivot to new energy and high ​oil prices due to the Iran war, according to a report ‌published by PetroChina's research unit.

PetroChina and Indian Oil Corp failed to secure very large crude carriers to lift Iraqi Basrah crude in late June, company and shipping sources said on ​Thursday, while another Chinese major Sinochem is on the hunt for a ‌tanker.

Woodside Energy said on ​Friday it had ‌exercised its pre-emptive right ​to acquire ​a 10.67% stake in ⁠the Browse ​Joint Venture from ​PetroChina International Investment (Australia), blocking a deal previously ​agreed with ​Japan's INPEX.