Russian oil output in March hit new Post-Soviet High; CNOOC is giving up on a high-profile shale gas project

（2015/03/30-2015/04/05）

Review of International Energy News
——On 2 April 2015, according to the International Energy Agency, Russia’s oil production hit an all-time peak of 11.41 million bpd in 1988 when it was still part of the former Soviet Union, accelerating the trend of global oil supply exceeding its demand.
——Australia is set to give a preliminary ruling on Chinese photovoltaic products on 7 April 2015 and make the final decision on whether levying anti-dumping duty on China or not on 19 May 2015.
——The discount at which Russia has been selling natural gas to Ukraine in the first quarter will remain in effect for the whole of the second quarter, Russian President Vladimir Putin's spokesman said on March 31.

Review of Domestic Energy News
——China’s state-owned oil firm, CNOOC, is giving up on a high-profile shale gas project in Anhui province, conceding that the play “is not suitable for development on a large scale.”.
——There are still many difficulties China will face to introduce “Made-in-China” nuclear to international markets with respect to the intense foreign competition, technical experience and operational wisdom.
——On March 27, CNPC and Caterpillar signed a strategic cooperation agreement in Beijing in order to push forward win-win development by giving play to respective strengths and providing priority support for each other.
——China officially ended its two-tier gas pricing system starting 1 April 2015, and Shanghai Petroleum and Natural Gas Trading Center would roll out spot electronic trading of pipeline natural gas in the first place.