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China, Australia cooperate to cut CO2: China's National Energy Administration and the Australian Department of Resources, Energy and Tourism recently signed an agreement in Beijing to conduct a feasibility study of a program that will reduce carbon emissions, and the two sides reaffirmed their commitment to cooperatio...

China Coal Benchmark Price Drops for a Fourth Week: China's Qinhuangdao coal, a national benchmark for the power-station fuel, fell for a fourth week as supplies remained above normal and the government capped prices. Power-station coal with an energy value of 5,500 kilocalories per kilogram declined 0.6 percent from a week ...

Mongolia demands upfront payment for Tavan Tolgoi: Miners bidding for Mongolia's Tavan Tolgoi, which could become one of the world's largest coal mines, have to submit a proposal for upfront payment to win the deal, the South China Morning Post reported on Dec 28. Miners including China Shenhua Energy Co Ltd, Peabody Energy Corp, ...

Hong Kong's 2010 Pollution Level Is Worst on Record, Hurting City's Image: Hong Kong posted the highest levels of roadside pollution this year since the city started collecting readings in 1999, according to calculations made by Bloomberg based on government data. Roadside smog reached very high or severe levels on the city s air pollution index, ...

China cracks down on illegal industrial mining: The elderly rice farmer was leading three outsiders into an illegal quarry to show them the gangster-run mine that has poisoned his village's fields and streams. Suddenly, a blue Hyundai sport utility vehicle sped up to them in a cloud of red dust. A Toyota pickup pulled up ...

Future pollution control 'arduours': China is expected to meet its 11th five-year period (2006-2010) pollution control targets, but the upcoming mission will be "fairly arduous," Minister of Environmental Protection Zhou Shengxian said Tuesday. Zhou said the sulfur dioxide index is expected to drop 14 percent in ...

Shanxi Coal Transportation and Sales to issue notes: Shanxi Coal Transportation and Sales Co, the largest coal distributor in China, yesterday announced that it will issue RMB 1 billion in medium-term notes with a maturity of five years on the inter-bank market on Dec. 31, 2010, sources reported. The company said in a statement ...

Shenhua, Guangdong Elec, Zhuhai Port to build coal terminal: China's Shenhua Energy Co Ltd has formed a joint venture with Guangdong Electric Power Development Co Ltd and Zhuhai Port Co Ltd to build a coal facility in the southern city of Zhuhai for 4 billion yuan, sources reported. The consortium planned to build a coal storage and ...

China green light for asset buys: Chinese authorities have given their approval to three overseas acquisition deals by state oil companies Sinopec and China National Offshore Oil Corporation (CNOOC). The National Development & Reform Commission said today on its website that it had approved Sinopec s $7.1 billion ...

PetroChina completes Sichuan wildcat: State-run PetroChina has completed drilling its first horizontal shale gas well, in Sichuan province in China s south-west. PetroChina drilled 1079 metres horizontally at the Wei 201-H1 well, in the Weiyuan structure of the Sichuan basin, after sinking vertically 2823 metres, ...

China energy authority drafting shale gas development plan -NDRC: China is drawing up a national shale gas development plan and aims for commercial production of the alternative fuel as early as possible as it gears up to boost cleaner energy consumption and reduce reliance on carbon-intensive coal. The National Energy Administration (NEA) is ...

CNOOC to acquire one-third of 3 exploration areas in Uganda for 1.47 bln USD: China National Offshore Oil Company Limited (CNOOC Ltd.) said on Wednesday that it has signed an agreement with U.K.-based Tullow Oil plc (Tullow) for a one-third interest in three exploration areas in Uganda for 1.467 billion U.S. dollars. The transaction, which is subject to ...

Cnooc, Total Sign Agreements to Buy Tullow Ugandan Assets After Tax Deal: Cnooc Ltd. (883) and Total SA (FP) signed agreements to buy stakes in Tullow Oil Plc (TLW) s Ugandan exploration interests, two weeks after the African nation said it settled a tax dispute with the U.K. energy producer. Cnooc will pay $1.467 billion for a one-third stake in ...

Sinopec 2010 Net Rises 14%, Curbed by State Anti-Inflation Efforts on Fuel: China Petroleum & Chemical Corp. (600028), Asia s biggest refiner, posted a 14 percent gain in annual profit, missing estimates, after increases in government- controlled fuel prices lagged behind gains in crude oil costs. Net income rose to 71.8 billion yuan ($11 billion), or 0...

Sinopec sees profits rise: China s state-run Sinopec saw revenues rise 42.2% year-on-year as increase gas output and stronger crude prices gave a boost to its upstream operations. The company s total revenue for last year was 1.9 trillion yuan, compared to 1.3 trillion yuan booked in 2009. The rise in ...

China detained Glencore trader in oil imports: China's customs authorities detained a Glencore (GLEN.UL) trader as part of an investigation into tax evasion on fuel imports, sources with direct knowledge of the situation said on Friday. Li Buhua, a Chinese national, is a member of Glencore's Beijing-based trading team, the ...

Sinopec profits increase 13.7% in 2010: The China Petroleum and Chemical Corp.,Asia's top oil refiner, said Sunday its net profits for 2010 topped 71.8 billion yuan (10.9 billion U.S. dollars), an increase of 13.7 percent over the previous year, according to international accounting standards. Its crude oil production ...

China Oilfield 2010 net profit rises 31.7%: China Oilfield Services Limited (COSL), a leading integrated oilfield services provider, posted a 31.7 percent year-on-year net profit increase as its exploration business expands. Its net profit hit 4.13 billion yuan ($629 million), COSL said in its 2010 annual report filed to ...

CNOOC moves closer to Galilee farm-in: State-run China National Offshore Oil Corporation (CNOOC) has received approval from one of three Chinese government departments needed to complete its farm-in agreement for five exploration permits held by Australia s Exoma Energy in the Galilee basin, Queensland. Exoma said the ...

Philippines set for oil drilling amid China spat: The Philippines is set to pursue oil exploration in disputed waters of the South China Sea amid a spat with China, the government and the company behind the project said. Britain-based Forum Energy said in a statement it had completed a seismic survey on the Sampaguita Gas field ...

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Yao's gift of sport for all: Chinese NBA player Yao Ming teaches a boy with special needs how to ...

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