ConocoPhillips CEO says the Middle East is investment-worthy but risks must be managed

Today (5th), it was learned from China National Petroleum Corporation (CNPC) that the largest desert oilfield in China, the Had-Fuman oilfield, has surpassed 26 million tons in oil and gas production extracted from more than 6,000 meters underground. Recently, Well Zhentan-1, located on the northern edge of the Taklamakan Desert, successfully extracted a rock core from a depth of 8,080 meters. These rock cores have been dormant underground for approximately 500 million years. This is the first time that a core has been extracted from a depth of over 8,000 meters on the northwestern margin of the Tarim Basin in China. Xu Yanan, the director of the Tarim Oilfield Project Department at CNPC, stated that with these valuable rocks, they can now analyze and evaluate the generation potential of oil and gas below 8,000 meters, assess the thickness of the reserves, and determine their maturity. (CCTV Finance)

AUD/JPY has just broken through the 110.00 mark, currently reported at 110.01, up 0.22% for the day.

Abu Dhabi National Oil Company (ADNOC) has signed an agreement with Gulf Group to supply up to 2 million tons of liquefied natural gas (LNG) to Thailand. The trade will commence in 2027, with the contract lasting for multiple years.