Home > energy
Power Plant-Coal Miners Spat Home Favors International Coal Prices
As negotiations with domestic coal companies stalemated, China's five electric power companies are now importing coal from overseas. This, together with the rebound of the Chinese economy, is boosting prices for coal imported from Vietnam, Indonesia, and Australia, but not enough so as to make it uneconomical to continue imports.
April 9th,2009
Sinopec Benefits from New Oil Product Pricing Mechanism
With the new oil product pricing mechanism, its net profit for this year's first quarter will grow at least 50% year over the same period last year.
March 30th,2009
PetroChina Plans Expansion of Global Oil/Gas Supply Network
PetroChina is planning to complete arrangements for five oil and gas cooperation areas worldwide within 8 to 10 years, and to increase its overseas oil and gas production to 200 million tons.
March 19th,2009
China's Fuel Export Surge Eases Inventory
With international oil prices hovering at low levels, calls for "buying crude oil at low prices" are growing louder in China, and China's biggest crude oil depot began to import oil at the end of last year. But according to figures from China Customs, crude oil imports in December totaled 14.37 million tons (about 3.5 million barrels per day), only 7.6% over November's number, the lowest in 2008, and 17% lower than in March, with the year's highest monthly impor
January 14th,2009
Price War Brewing Between PetroChina and SinoPec
After the nationwide lowering of oil prices beginning on December 19, Sinopec and PetroChina have successively cut oil prices in big cities, such as Guangzhou, Fuzhou, Shanghai, and Beijing, by up to 0.4 yuan per liter, something rarely seen in recent years. Now the two giants are each reducing prices in the other's turf, and a price war is brewing.
December 31st,2008
Power Generation Plummets and May Struggle for Years
After power output growth declined into negative numbers in October, generation from power plants above designated size (state- and non-state-owned enterprises with an annual sales over 5 million yuan) in November may drop by 11% year on year. As barometer of the economy, declining power generation indicates increasing downward pressure on the economy as well as on power company profits.
December 8th,2008
Fuel Tax Reform to Finally Benefit PetroChina and Sinopec
Analysts believe Chinese oil companies will still face losses even with prices totally in line with those overseas because their refining efficiency and marketing have not been improved compared with overseas rivals.
December 7th,2008
China's Oil/Gas Big Three Seeking Overseas Fire Sale Opportunities
Some of this overseas action is pitting Chinese companies against each other. Two months ago, Marathon Oil announced the sale of its stake in No. 321 deep sea area off Angola. PetroChina bid individually while Sinopec and CNOOC bid jointly. It has been reported that the Sinopec/CNOOC combination won the bid for $1.8 billion, but a spokesman only admitted the companies had taken part in the bid and refused to reveal whether they had succeeded.
November 28th,2008
China-Russia Loan-for-Oil Deal Stuck in Rate Dispute
Negotiations for a China-Russia Loan-for-Oil program are in a stalemate. Yesterday, China National Petroleum Corporation (CNPC) insiders disclosed that some progress has been made since the resumption of talks on Monday, but differences over interest rates between the two sides have become the biggest obstacle and it is difficult to say now when a final agreement will be reached.
November 26th,2008
CNOOC to Explore Deeps of the South China Sea
China National Offshore Oil Corporation (CNOOC) is planning to invest 200 billion yuan on oil and gas exploration in South China Sea in the next 10 years or so, and establish production capacity with annual output of 50 million tons, parallel to the Daqing Oil Field, China's biggest oil field.
November 25th,2008
77 Reviews, 10Reviews Per page, 3/8 Jump to :
 Previous1 2 3 4 5 6 7 8  Next