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China Able to Meet 2010 Energy Reduction Goal, Nation Commission Says

China will be able to meet the nation s target this year to reduce energy use per unit of gross domestic product by 20 percent from 2005 levels, the National Development and Reform Commission said in a report distributed ahead of a briefing in Beijing today.

PetroChina Plans to Add Oil, Gas Assets as Japan Earthquake Boosts Demand

PetroChina Co. pledged to accelerate acquisitions of energy assets and develop the country s domestic natural gas resources as nuclear plant closures following last week s Japan earthquake boost demand. We will accelerate our global expansion, PetroChina President Zhou Jiping ...

Sinopec to Shut Luoyang Plant in September for Maintenance, Reducing Sales

China Petroleum & Chemical Corp. (600028), the nation s biggest fuel supplier, plans to shut its 160,000- barrel-a-day refinery in Luoyang city in central China in September for maintenance, said the head of the plant. The refinery in Henan province will be shut 45 days and the ...

China's crude oil output up 5.3% in Feb

China saw its crude oil output climb 5.3% year on year to 15.91 million metric tons in February this year, according to the latest statistics figures from the National Bureau of Statistics. In the first two months of this year, China's crude oil output increased 5.5% year on year ...

China state oil reserve enough for a month's use

China has enough oil in its strategic reserves to cover one month's consumption and crude oil accounts for three quarters of the stockpile, a senior government official was quoted as saying by a Chinese newspaper on Mar 9. If the comment is accurate, it suggests the world's ...

Taiwan's Debt Tops Asia as Rising Oil Prices Punish Indonesia, Philippines

Bonds from Taiwan are beating debt from Asia s developing nations as surging oil prices punish economies with the fastest inflation. Local-currency debt sold by Taiwan returned 1.4 percent this year, the best performance in the region excluding Japan. while Singaporean notes ...

Chinese halt South China Sea seismic

Seismic testing for gas in the South China Sea by an Anglo-Filipino consortium has been halted after an incident in which Manila says two Chinese boats threatened to ram a survey ship. Last week, a Singapore-registered French-owned survey ship, conducting tests in the Reed Bank ...

Taiwan Debt Tops Asia as Rising Oil Prices Punish Indonesia, Philippines

Bonds from Taiwan are beating debt from Asia s developing nations as surging oil prices punish economies with the fastest inflation. Local-currency debt sold by Taiwan returned 1.4 percent this year, the best performance in the region excluding Japan. while Singaporean notes ...

Guangdong to build 3 large refineries in 2011

Guangdong Province plans to kick off the construction of three large refineries this year, the Wall Street Journal reported, citing the Guangdong Provincial Government as saying on Saturday. The local government said in a statement that the three projects consist of two refinery ...

Tianjin Port talks LNG terminal with CNOOC

The operator of northern China's Tianjin Port was in talks with China National Offshore Oil Corporation (CNOOC) to build a liquefied natural gas receiving terminal at its port, the China Daily reported . "The project will include an LNG dock and receiving station that can handle ...

China 2010 oil discoveries up, gas findings slump

China's discoveries of proven geological oil reserves in 2010 inched up slightly from a year earlier, but natural gas deposit findings slumped nearly 18 per cent, Ministry of Land and Resources data showed. China, the world's largest metals consumer, also said it discovered more ...

Sinopec inks 20-year LNG deal with Australia Pacific LNG

China Petrochemical Corp, which is also known as Sinopec Group and is the largest oil refiner in Asia, said today that it has signed a preliminary agreement to purchase 4.3 million metric tons of liquefied natural gas per year from Australia Pacific LNG Pty Ltd. In addition, the ...

Shandong Molong Petroleum wins order from CNPC

Shandong Molong Petroleum Machinery Co Ltd<0568>, one of the first companies manufacturing special petroleum equipment in China, has won an order of 50,600-ton oil casing pipes from China National Petroleum Corp, representing 4.04% of total bids launched by the Chinese oil giant, ...

China NDRC to Ease Limits on Outbound Investment, Economic Daily Reports

China s National Development and Reform Commission will ease limits on outbound investment by Chinese companies, the Economic Information Daily reported today, citing Kong Linglong, head of the NDRC s department of foreign capital and overseas investment. Resources-related ...

The price hike of gasoline, diesel lower than expected

China raised the prices of gasoline and diesel by 350 yuan ($53.2) a ton beginning on Sunday, the National Development and Reform Commission (NDRC) announced Saturday night. The adjustment is the first this year but the second one in the past two months. The increase would hike ...

CNPC to expand pipeline construction over next 5 years

China National Petroleum Corporation (CNPC) is scheduled to construct about 50,000 kilometers of petroleum pipeline over the next five years, according to a press release on the company's website Monday. Analysts agree that petroleum pipeline expansion is key to continued fast ...

Trees planted in China to neutralize carbon emissions of UN conference

A newly planted forest will neutralize carbon dioxide emissions from a UN climate change conference as China ups its efforts to combat climate change, an official said here Tuesday. Over 10 years the 333-hectare forest, spanning Xiangyuan, Xiyang and Pingshun counties in north ...

Emission control green revolution in impoverished Chinese regions

Suyalatu, a shepherd in northern China's Inner Mongolia, interpreted China's emission control policy in his own way: it saved him the trouble of combing soot off his sheep. "I was glad to see those nearby factories closed for environmental concerns. Their choking fumes used to ...

China end-Jan commercial crude stocks up 2.5 pct

China's commercial crude oil inventories rose 2.5 percent at the end of January from the end of December, the second consecutive rise after three falls, the official Xinhua News Agency's Oil, Gas and Petrochemicals newsletter reported on Monday. Inventories of refined oil ...

IEA: Chinese national oil companies independent from gov't

Chinese national oil companies' investment activities around the world appear mainly to be driven by "commercial incentives" rather than government instructions, the International Energy Agency said in a report on Feb. 17. The IEA's report repudiated recent criticisms, which ...
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