Latest SZ China Reports Updates

• SZ China Natural Gas Bi-weekly Report Apr 1-15,2012 [Apr. 25, 2012]
• SZ China Natural Gas Quarterly Report Q1 2012 [Apr. 3, 2012]
• SZ China Refining Monthly Report-Mar’2012 [Apr. 2, 2012]
• SZ China Natural Gas Bi-weekly Report Mar 16-31,2012 [Apr. 2, 2012]
• SZ China Natural Gas Bi-weekly Report Mar 1-15,2012 [Apr. 2, 2012]

• SZ China Natural Gas Bi-weekly Report Apr 1-15,2012
  [Apr. 25, 2012] 
• SZ China Natural Gas Quarterly Report Q1 2012
  [Apr. 3, 2012] 
• SZ China Refining Monthly Report-Mar’2012
  [Apr. 2, 2012] 

• SZ China LPG Prices Daily Alert May 15, 2012
  [May 15, 2012] 
• SZ China LPG Prices Daily Alert May 14, 2012
  [May 14, 2012] 
• SZ China LPG Prices Daily Alert May 11, 2012
  [May 11, 2012] 

[May 16, 2012] (TendersInfo (India) Via Acquire Media NewsEdge) On May 10, heavy hail and flood struck Minxian County of Dingxi City, Gansu Province, resulting in collapse or damage of residential constructions, and severe destruction of public services including health

[May 16, 2012] (TendersInfo (India) Via Acquire Media NewsEdge) On May 10, heavy hail and flood struck Minxian County of Dingxi City, Gansu Province, resulting in collapse or damage of residential constructions, and severe destruction of public services including health

[May 16, 2012] AEG Power Solutions announced today that its Chinese subsidiary has signed a contract with SINOPEC LPEC (Luoyang Petrochemical Engineering Company) to provide all power supply equipment for the Atyrau refinery they are building in Kazakhstan. AEG PS will

[May 16, 2012] The China growth story is still sputtering, but some pillars take longer to collapse then others.  PetroChina has just surpassed Exxon in oil production.  The Chinese government created PetroChina to serve its geopolitical goal of maximizing the

[May 15, 2012] On May 11, CNPC and Chinese Academy of Sciences (CAS) signed a strategic cooperation agreement in Beijing, to join hands in technological research on cutting-edge basic science of oil and gas exploration and development, petroleum engineering technology a

[May 15, 2012] Oil prices fell on Monday as Greece’s inability to form a coalition government and concerns about a slowing Chinese economy fed worries about the outlook for petroleum demand.Greece’s turmoil triggered selling in dollar-denominated copper and gold, sendin

[May 14, 2012] Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever fo

[May 14, 2012] The China National Offshore Oil Corp (SINOC) has announced readiness to restart working on development of Iran’s North Pars gas field five years after Iran threatened to cancel the contract due to the Chinese company’s repeated delays, the ISNA News Agenc

[May 14, 2012] China Knowledge reported that China National Petroleum Corp or CNPC, the parent company of PetroChina Co Ltd plans to issue CNY 20 billion worth of unsecured medium term notes with a maturity of five years on May 16.The company said in a statement that th

[May 14, 2012] CNOOC Limited (the "Company", NYSE: CEO, SEHK: 00883) announced today that its parent company, China National Offshore Oil Corporation (CNOOC) has signed a production sharing contract (PSC) with Roc Oil (Bohai) Company (ROC) for Block 09/05 in B

[May 14, 2012] China Petrochemical Corp (Sinopec) first foray into the international bond market drew an unprecedented $19bn of orders, the biggest book ever achieved by a Chinese issuer in the global debt market. ..The rest of this article is available to subscribers a

[May 14, 2012] The state-owned China Petroleum and Chemical Corporation (Sinopec) demonstrated its massive appeal from the global investors when it garnered an overwhelming order book of USD19 billion for its three-tranche bond offering totaling USD3 billion. This

[May 14, 2012] Bloomberg reported that China National Petroleum Corp officials met with the Colombian government to discuss possible investment in oil exploration and production as well as a pipeline project.Colombia Mines and Energy Ministry said the meeting in Shangha

[May 14, 2012] NEW DELHI: In a move that could calm frayed diplomatic nerves between India and China, New Delhi has decided to exit the oil block no 128 in South China Sea, Indian media reported on Saturday.Indian ministry of external affairs (MEA) has advised the petro

[May 14, 2012] Oil prices fell below $96 a barrel Monday in Asia amid investor concern that China’s economy, the world’s second-largest, is slowing faster than previously expected.Benchmark oil was down 40 cents to $95.73 a barrel in electronic trading on the New York M

[May 11, 2012] China Petroleum and Chemical Corp., or Sinopec Corp., is continuously in talks with U.S. and Canadian companies to secure unconventional sources of oil and gas, Chairman Fu Chengyu said Friday.Sinopec is speaking to companies besides Chesapeake Energy, Fu

[May 11, 2012] Barclays Research estimated the market value of the two rigs at $300-400 million."The contracts, from an overseas company, have been finalised and will be effective by the end of the month," the source told Reuters, declining to give other detai

[May 11, 2012] The billions of dollars Asian energy firms have invested in Canada in recent years have flowed almost exclusively into oil and gas fields, the raw reserves of the energy patch.Now, the second act is beginning. On an eight-acre property in Nisku, Alberta&r

[May 11, 2012] The decision by China National Offshore Oil Corporation to start drilling in Chinese waters off the coast off Hong Kong wouldn’t normally spark controversy. But coming at a time of heightened tensions over disputed territory in the South China Sea,

[May 11, 2012]  Asia’s largest refiner by capacity, China Petrochemical Corp.--known as Sinopec Group--launched a $3 billion, three-tranche bond offering Thursday, extending a recent surge of international debt issuance from the region despite the euro-zone woes.Th

[May 11, 2012] China’s dependence on imported oil is continuing to rise, threatening the country’s energy security, the Ministry of Land and Resources said Thursday.Dependence on oil imports rose to 56.7 percent in 2011 from 54.8 percent in 2010 and 52.6 percent in 2009

[May 11, 2012] Oil prices ended mixed in choppy trading on Thursday as weaker-than-expected Chinese trade data, higher OPEC production and evidence of a strengthening U.S. jobs market muddied the oil demand outlook.China, the world’s second largest oil consumer after th

[May 10, 2012] Shares of mainland oil stocks fell yesterday ahead of a reduction in retail petrol and diesel prices.The decline marks the first cut in fuel prices since October.Petrol prices will be slashed by 330 yuan (HK$406) per tonne to 8,850 yuan, while the price o

[May 10, 2012] China imported 22.26 million metric tons of crude oil in April, equivalent to 5.44 million barrels a day, preliminary data from the General Administration of Customs showed Thursday.Imports were 3.3% higher than the 21.54 million tons of crude shipped in

[May 10, 2012] The first deepwater drilling rig developed in China is scheduled to drill a well in a part of the sea known as 43/11 block this year at a water depth of 2,454 meters, making it the deepest well in the South China Sea.The block is being explored by China N

[May 10, 2012] China’s first deep-water drilling rig began operations near an island chain in the South China Sea in a move to assert Beijing’s territorial claims as travel agencies suspended Philippines tours amid safety concerns.Cnooc Ltd. (883), China&rsq

[May 10, 2012] PetroChina, Asia’s largest oil and gas producer, has made a string of overseas refinery acquisitions in the past few years to strengthen its global refinery foothold and boost its trading and marketing capabilities.In a filing with the U.S. Securities and

[May 10, 2012] BEIJING, May 9 (Reuters) - China said on Wednesday that it will lower gasoline and diesel prices by about 3 percent from Thursday in response to declines in international crude oil prices, although the moderate cut is unlikely to be sufficient to stimulat

[May 9, 2012] Oil shipping costs have been unusually high in the recent months as oil tankers take too long to unload at China’s ports. China is beefing up oil reserves, and increasing its oil investment could be a strategy towards gaining the upper hand in polit

[May 9, 2012] China is buying crude oil from Iran using its currency the yuan, an Iranian diplomat has said. "Yes, that is correct," Mohammed Reza Fayyaz the Iranian ambassador to the United Arab Emirates told Reuters when asked to comment on an earlier

[May 9, 2012] China’s first deep-water drilling rig started operations in the South China Sea at 9: 38 am on Wednesday, marking "a substantial step" made by the country’s deep-sea oil industry.The sixth-generation semi-submersible CNOOC 981 began drilling in

[May 8, 2012] China increased its crude imports in the first quarter to fill stockpiles and not because of growth in domestic demand, according to a report in China National Petroleum Corp.’s online newsletter.  China’s crude-processing capacity expand

[May 8, 2012] Upon morning market opening, the stock price shot up by 23.33 percent, standing at 11.47 yuan per share. It closed the day up 25.27 percent at 11.65 yuan. The soaring price soaring best demonstrated the market’s attention and affirmation, or, m

[May 8, 2012] Dmitry Konov, CEO of Russian Petrochemical Holding Company SIBUR, and Wang Tianpu, President of ChinaPetrochemical Corporation (Sinopec Group), recently signed a cooperation agreement during the Russian-Chinese Forum on commercial investment cooperation.&

[May 8, 2012]   Philippine President Benigno Aquino said he’s open to an agreement with China that would allow companies to exploit oil and gas resources while the governments separately resolve South China Sea border disputes.Aquino said his administration

[May 8, 2012] Islamabad May 07:President Asif Ali Zardari has invited Chinese Companies to undertake oil and gas exploration‚ infrastructure and social projects in Pakistan.Talking to Chairman of Orient Group of China‚ Zhang Hongwei in Islamabad on Monday&s

[May 8, 2012] China has reportedly expressed willingness to set up an oil refinery near Karachi with an investment of $5 billion, official sources told Business Recorder.For this purpose, China has requested the Government of Pakistan (GoP) to identify 4000 acres of la

[May 8, 2012]   Beijing on Monday slammed Manila’s attempt to "rename" Huangyan Island as China is set to launch its first deepwater oil rig in the South China Sea.  Manila declared on Thursday that it would "rename" Huangyan Island as Pan

[May 8, 2012]

[May 7, 2012] Zhuhai Zhenrong Co., the Chinese company censured by the U.S. in January for trading with Iran, provisionally hired an oil tanker to carry fuel oil from the Persian Gulf nation, shipping data showed.

[May 7, 2012] Shanghai Futures Exchange (SHFE) fuel oil prices fell May 4 amid softening international crude oil prices. The most traded 2012 September contract closed the session up 0.57 percent at RMB 5,448 ($864.97) per ton.

[May 3, 2012] China National Petroleum Corp said on Wednesday that its Guangdong-based mega joint refinery with Venezuelan partner Petroleos de Venezuela SA started construction last Friday and is set to open by the end of 2014. The 58.6-billion-yuan ($9.3 billion) pro

[Apr. 30, 2012] China’s largest oil company and its biggest commercial bank have shown strong interest in joining an Ecuador-Venezuela refining project planned for Ecuador’s Pacific coast, a senior minister from the Andean country said Friday.

[Apr. 27, 2012] Hefty refining losses continued to weigh on profits at Chinese state oil giants PetroChina and Sinopec Corp in the first three months of the year, with the latter posting a worse than expected 35 percent drop in earnings.

[Apr. 27, 2012] South Sudan President Salva Kiir kicked off his first China visit Monday. There is no shortage of salient issues that could be the focus of the agenda. Top among these are the ongoing hostilities over the border town of Heglig, known as Panthou to the Dinka inhabitants.

[Apr. 27, 2012] China Petroleum & Chemical Corp., Asia’s biggest refiner, posted a 35 percent drop in profit, missing estimates, after increases in state-controlled gasoline and diesel prices lagged behind gains in crude-oil costs.

[Apr. 27, 2012] Hefty refining losses continued to weigh on profits at Chinese state oil giants PetroChina and Sinopec Corp in the first three months of the year, with the latter posting a worse than expected 35 percent drop in earnings.

[Apr. 26, 2012] China’s West Pacific Petrochemical Corp (WEPEC) offered around 28,000 to 30,000 tonnes of naphtha for late May loading after an absence of nearly four months, traders said on Wednesday.

[Apr. 26, 2012] China’s West Pacific Petrochemical Corp (WEPEC) sold a naphtha cargo at a premium of about $32 a tonne to Japan quotes on a free-on-board (FOB) basis, possibly a record deal for the refiner, traders said on Thursday.

[Apr. 26, 2012] South Sudan President Salva Kiir kicked off his first China visit Monday. There is no shortage of salient issues that could be the focus of the agenda. Top among these are the ongoing hostilities over the border town of Heglig, known as Panthou to the Dinka inhabitants.

[Apr. 26, 2012] China Aviation Oil (Singapore) is seeking up to 1.4 million barrels of jet fuel for May and June, with a slight spike in purchases in May, industry sources said.

[Apr. 26, 2012] China Knowledge reported that Weichai Power Co Ltd one of China largest manufacturers of diesel engines posted CNY 1.03 billion net profit attributable to shareholders for the first quarter of this year reflecting a YoY plunge of 44.3% YoY.

[Apr. 25, 2012] A natural gas discovery in a disputed area in the South China Sea contains more reserves than initially thought, a Philippine exploration firm said on Tuesday, with the new findings likely to further intensify territorial tensions between Beijing and Manila.

[Apr. 25, 2012] China’s apparent* oil demand in March rose 3.3% year on year to 40.23 million metric tons (mt), or an average 9.5 million barrels per day (b/d), a Platts analysis of recent statistics released by the Chinese government showed.

[Apr. 25, 2012] Weichai Power Co Ltd<000338><2338>, one of China’s largest manufacturers of diesel engines, yesterday posted RMB 1.03 billion-net profit attributable to shareholders for the first quarter of this year, reflecting a year-on-year plunge of 44.3%.

[Apr. 25, 2012] China’s gasoline exports rose to the highest level in 14 months in March after refineries ramped up run rates to a record in the first two months of the year and domestic fuel demand slowed.

[Apr. 25, 2012] Cnooc Ltd. (883), China’s biggest offshore oil and gas explorer, said successes in discovering new fields in the country will help the company achieve its goal of as much as 10 percent annual growth in production.

[Apr. 24, 2012] Ecuadorean President Rafael Correa said Saturday China could fully finance the $13 billion Refineria del Pacifico, a joint project between Ecuador and Venezuela’s state oil companies.

[Apr. 24, 2012] State-run China National Petroleum Corp (CNPC) and Petroleos de Venezuela SA (PDVSA) will start building their mega joint refinery on China’s southern coast later this month, a move would pave the way for more Venezuelan oil to flow to the world’s second-largest oil user.

[Apr. 24, 2012] Ecuadorean President Rafael Correa said Saturday China could fully finance the $13 billion Refineria del Pacifico, a joint project between Ecuador and Venezuela’s state oil companies.

[Apr. 24, 2012] The Chinese Cabinet’s approval of a 400,000b/d refinery - to be built by Petrochina and PdVSA in Guangdong province - will be welcomed by both partners. Indeed, BMI views this project as a crucial pawn in Petrochina’s regional diversification strategy; it also presents Venezuela with a huge opportunity to expand crude exports to China and meet the targets established under an oil-for-loans deal signed by the two countries.

[Apr. 24, 2012] China may soon lower its oil product prices for the first time this year, given the recent drop in international crude oil prices and sluggish market demand, analysts said Sunday.

[Apr. 24, 2012] China’s gasoline exports rose to the highest level in 14 months in March after refineries ramped up run rates to a record in the first two months of the year and domestic fuel demand slowed.

[Apr. 24, 2012] Oil dropped from the highest closing price in three days in New York after a report showed that Chinese consumption growth is slowing.

[Apr. 23, 2012] BMI View: The Chinese Cabinet’s approval of a 400,000b/d refinery - to be built by Petrochina and PdVSA in Guangdong province - will be welcomed by both partners. Indeed, BMI views this project as a crucial pawn in Petrochina’s regional diversification strategy; it also presents Venezuela with a huge opportunity to expand crude exports to China and meet the targets established under an oil-for-loans deal signed by the two countries.

[Apr. 23, 2012] China’s State Council, or cabinet, has formally approved the initial phase of construction on a CNY58 billion ($9.21 billion) refinery project by China National Petroleum Corp. and Petroleos de Venezuela SA, a person familiar with the situation said Monday.

[Apr. 23, 2012] With a heart for racing, Yang Liguang enjoys the moment when he overtakes other cars on the road. But after the fuel prices rose again in March, he has begun having second thoughts every time he wants to step on the accelerator pedal.

[Apr. 19, 2012] China is expected to begin trading in crude oil futures within the year, a senior government official said on Wednesday, as the world’s second-largest oil consumer and crude buyer aims to increase its say in oil pricing.

[Apr. 19, 2012] The U.S. Department of Energy says the number of U.S. refineries has been cut in half since 1950 and approximately half of the nation’s refining capacity resides in Texas and Louisiana. Although we have fewer refineries today, their capacity is increasing. However, the east coast is set to see its refining capacity cut in half (by 700,000 barrels per day) if the Sunoco Philadelphia refinery, the third of three Pennsylvania refineries to shut down, closes as scheduled on July 1. For east coast refineries, reliance on foreign oil (Brent crude) arriving on tankers precludes profitability.

[Apr. 19, 2012] Central Market: Tuesday (April 17) markets in the region steam price has stability, and turnover and preferential policies have not changed the end market demand as it remains weak. Mostly in the short term stock will rose due to poor support.

[Apr. 19, 2012] A proposed joint venture (JV) oil refinery between oil and gas major China National Petroleum Corp. (CNPC) and state-owned Venezuelan oil company Petroleos de Venezuela, S.A. (PDVSA) has received approval from the State Council, China’s Cabinet, state media reported on April 15.

[Apr. 18, 2012] China Petrochemical Corp (Sinopec Group) is in talks with Repsol-YPF, Spain’s largest oil company, to buy out the latter’s stake in Argentinean oil unit, YPF, a source close to the deal disclosed Tuesday.

[Apr. 18, 2012] China Petrochemical Corp. (Sinopec Group) is in talks to buy Argentine oil and gas company YPF S.A., a source close to Sinopec says.

[Apr. 18, 2012] Hong Kong shares bounced back after two days of losses on Wednesday as stronger overseas markets and a turnaround in the mainland markets on easing concerns over China’s economic growth spurred some short-covering.

[Apr. 18, 2012] China Aviation Oil (Singapore) is seeking an additional jet fuel cargo for delivery into South China as demand is set to increase in April and May on refinery maintenance and ahead of a trade show, traders said on Tuesday.

[Apr. 17, 2012] The tender for a Kwai Chung petrol station site has been awarded to Sinopec (HK), the Lands Department announced today, Hong Kong’s Information Services Department reported. The land grant is for 21 years at a premium of $69.87 million.

[Apr. 17, 2012] Sinopec SABIC Tianjin Petrochemical Company (SSTPC) has laid the foundation of a 260,000 tons/year polycarbonate complex in the Tianjin Binhai New Area, SABIC announced in a press release on 3 April.

[Apr. 17, 2012] ’The beginning of the year, Chairman Fu Chengyu has approved the listing of its lubricant products business.’ One China Petroleum & Chemical Group (hereinafter referred to as ’Sinopec Group’ employees told the reporter, Fu Chengyu, its lubricant products from the petrochemical independent spin-off opportunities for mature lubricant product sales channel integration is the preparation for the subsequent listing.

[Apr. 17, 2012] PetroChina plans to supply a total of 1.16m tonnes of gasoline and gasoil to southern China in April, down by 18% from the previous month, a company source said.

[Apr. 17, 2012] A proposed joint venture (JV) oil refinery between oil and gas major China National Petroleum Corp. (CNPC) and state-owned Venezuelan oil company Petróleos de Venezuela, S.A. (PDVSA) has received approval from the State Council, China’s Cabinet, state media reported on April 15.

[Apr. 17, 2012] State-run Kuwait Petroleum Corporation (KPC) aims to obtain Chinese government approval for the Kuwait-Sino joint venture project to build a mega refinery and petrochemical complex in southern China’s Zhanjiang City by the end of this year, KPC’s top official said on Monday.

[Apr. 17, 2012] China Aviation Oil (Singapore) is seeking an additional jet fuel cargo for delivery into South China as demand is set to increase in April and May on refinery maintenance and ahead of a trade show,traders said on Tuesday.

[Apr. 17, 2012] A proposed joint venture (JV) oil refinery between oil and gas major China National Petroleum Corp. (CNPC) and state-owned Venezuelan oil company Petróleos de Venezuela, S.A. (PDVSA) has received approval from the State Council, China’s Cabinet, state media reported on April 15.

[Apr. 16, 2012] A big shift is happening in Big Oil: An American giant now ranks behind a Chinese upstart. Exxon Mobil is no longer the world’s biggest publicly traded producer of oil. For the first time, that distinction belongs to a 13-year-old Chinese company called PetroChina. The Beijing company was created by the Chinese government to secure more oil for that nation’s booming economy.

[Apr. 16, 2012] Chinese oil firms will trim crude oil throughput at major refineries to a 35-month low in April after a large cut in March, a Reuters poll showed, as maintenance remains heavy amid ongoing refining losses despite a fuel price hike last month.

[Apr. 16, 2012] China Petroleum and Chemical Corp. (SNP), or Sinopec, will keep eight of its refining units online for a year longer than previously planned before taking them offline for maintenance, the company said Friday.

[Apr. 13, 2012] Sinopec Shanghai Petrochemical (NYSE: SHI)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Thursday. They currently have a $37.00 target price on the stock.

[Apr. 13, 2012] Operation rates of major refineries in China averaged 79.1% on 12 April, touching the lowest level since October 2011, according to C1 Energy, an ICIS service in China.

[Apr. 13, 2012] Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386) said Shengli, its largest oilfield, produced 6.83 million tons of crude oil in Q1 2012, or 550,000 barrels per day, up 1.4% from the same period a year earlier. Shengli aims to roll out 27.5 million tons of crude this year, or 551,000 barrels per day, slightly up from last year’s levels, Sinopec said.

[Apr. 13, 2012] China’s Sinopec Shanghai Petrochemicals has processed no Iranian crude this year, a top official said on Tuesday, after its parent company cut imports from the Islamic Republic in a dispute over annual contract terms.

[Apr. 13, 2012] State-owned China Petroleum and Chemical Corporation (Sinopec Corp) is considering halting fuel sales to private gas stations in some parts of the country, representatives from the company said

[Apr. 13, 2012] Kuwait’s joint venture refining and petrochemicals projects in China and Indonesia are set for start-up in 2015 and 20a17 respectively, as per the president of state-owned Kuwait Petroleum International in Platts. A final investment decision on a similar project in Vietnam is within striking distance.

[Apr. 12, 2012] A big shift is happening in Big Oil: an American giant now ranks behind a Chinese upstart. Exxon Mobil is no longer the world’s biggest publicly traded producer of oil. For the first time, that distinction belongs to a 13 year old Chinese company called

[Apr. 12, 2012] ?According to Beijing Times, recently there was news stating that PetroChina and Sinopec will suspend the wholesale of refined oil to regions other than the producing region. Both companies denied this rumor on April 10.

[Apr. 12, 2012] Kuwait’s joint venture refining and petrochemicals projects in China and Indonesia are set for start-up in 2015 and 20a17 respectively, as per the president of state-owned Kuwait Petroleum International in Platts. A final investment decision on a similar project in Vietnam is within striking distance.

[Apr. 11, 2012] China National Petroleum Corp. and China Petrochemical Corp. (Sinopec Group) have dismissed media reports claiming they intend to stop selling refined fuel to private gas stations and

[Apr. 11, 2012] New York-listed Aegean Marine Petroleum Network has signed a memorandum of understanding with state-owned enterprise China Changjiang Bunker (Sinopec) Co, which allows the companies to service each other’s bunker fuel customers, the company said late Thursday.

[Apr. 11, 2012] Kuwait’s joint venture refining and petrochemicals projects in China and Indonesia are set for start-up in 2015 and 2017 respectively, the president of state-owned Kuwait Petroleum International said Tuesday.

[Apr. 11, 2012] China’s crude oil imports in March rose 8.7% year on year to 23.55 million mt, or an average of 5.57 million b/d, preliminary data released Tuesday by the country’s General Administration of Customs showed.

[Apr. 11, 2012] Oil suffered its biggest one-day percentage loss of the year on Tuesday, hitting a seven-week low as concerns about a potential slowdown in the economy of No. 2 crude consumer China added to worries about global demand.

[Apr. 11, 2012] South China market: the region of Guangdong Province, three of 93 # gasoline offers tight resources, 12 o’clock this morning, Guangdong Province, Petroleum announced the suspension of the discount and the sale in the country, three of 93 # gasoline, it is learned from the oil show that the allocation of resources is the result of tight gasoline supply and demand; foreign Sinopec country 30 93 # gasoline sale continues to this day, It is understood that because of high gasoline prices in recent days, the market demand is bleak, there has been no transactions, the third 93 # sale on market has not been significantly affected.

[Apr. 11, 2012] China’s Sinopec Shanghai Petrochemicals has processed no Iranian crude this year, a top official said on Tuesday, after its parent company cut imports from the Islamic Republic in a dispute over annual contract terms.

[Apr. 10, 2012] THE Australian dollar was looking fragile in Asia late today after Chinese import data signalled to some that demand for key mining and energy products was softening. China’s imports grew by a surprisingly low 5.3 per cent in March, while imports of iron ore dropped 9.1 per cent.

[Apr. 10, 2012] China’s Zhenhai Refining & Chemical plans to shut its 250,000 tonne/year polypropylene (PP) line in eastern China’s Zhejiang province on 10 April, a company source said on Monday.

[Apr. 10, 2012] China imported 23.55 million metric tons of crude oil in March, equivalent to 5.57 million barrels a day, preliminary data from the General Administration of Customs showed Tuesday.

[Apr. 10, 2012] Chinese oil firms will trim crude oil throughput at major refineries to a 35-month low in April after a large cut in March, a Reuters poll showed, as maintenance remains heavy amid ongoing refining losses despite a fuel price hike last month.

[Apr. 9, 2012] Chinese oil firms will trim crude oil throughput at major refineries to a 35-month low in April after a large cut in March, a Reuters poll showed, as maintenance remains heavy amid ongoing refining losses despite a fuel price hike last month.

[Apr. 9, 2012] PetroChina Co Ltd , China’s second largest oil refiner, will cut crude oil throughput at its largest Dalian refinery in April by more than a fifth from a month earlier due to planned maintenance, an industry source said on Friday. The plant in northeastern Liaoning province will process some 238,500 barrels per day (bpd) this month, down from the 306,100 bpd in March, according to the source.

[Apr. 9, 2012] Reuters quoted an industry source said PetroChina Co Ltd, China second largest oil refiner will cut crude oil throughput at its largest Dalian refinery in April by more than a fifth from a month earlier due to planned maintenance.

[Apr. 9, 2012] China’s two oil giants, PetroChina and Sinopec, are expected to improve their profit margins this year due to increased oil production and frequent fuel price hikes while losses in their refining arms will contract as a result of the lower cost of crude oil, analysts said yesterday.

[Apr. 6, 2012] China Petroleum and Chemical Corp (Sinopec Corp) will soon close a 200,000 barrels-per-day (bpd) crude oil unit at its largest refinery, Zhenhai, for a four-week turnaround, after completing repairs of a 160,000-bpd crude unit, sources said on Friday.

[Apr. 6, 2012] China Petroleum and Chemical Corp (Sinopec Corp) , Asia’s largest refiner, will close a 160,000 barrels-per-day (bpd) crude oil unit at its Jinling refinery from mid-April for about a month-long turnaround, an industry source said on Friday.

[Apr. 6, 2012] PetroChina Co Ltd , China’s second largest oil refiner, will cut crude oil throughput at its largest Dalian refinery in April by more than a fifth from a month earlier due to planned maintenance, an industry source said on Friday. The plant in northeastern Liaoning province will process some 238,500 barrels per day (bpd) this month, down from the 306,100 bpd in March, according to the source.

[Apr. 6, 2012] PetroChina, the country’s dominant oil and gas producer, was shutting down an 80,000 barrels per day (bpd) crude oil distillation unit in its Jinzhou refinery on Friday for a one-month maintenance period, an industry source said.

[Apr. 6, 2012] China’s two oil giants, PetroChina and Sinopec, are expected to improve their profit margins this year due to increased oil production and frequent fuel price hikes while losses in their refining arms will contract as a result of the lower cost of crude oil, analysts said yesterday.

[Apr. 5, 2012] Sinopec posted a net profit of 71.7 billion yuan for 2011, after a weak fourth quarter reduced growth from 2010 to 1.4 percent, Beijing News reported. The refining operations made a 37.6 billion yuan loss for the year.

[Apr. 5, 2012] A significant shift occurred as Petro China surpassed Exxon Mobil as the #1 publicly traded oil producer. State owned, Saudi Armco is still the number one overall oil producer, Rigzone reports. Petro China is still third for total production of oil and natural gas behind Exxon and BP. The Chinese government owns 86 percent of its stock and the nation uses nearly all the oil it produces. Its appetite for petroleum is projected to double between 2010 and 2035.

[Apr. 5, 2012] PetroChina Co. purchased a diesel cargo for a second day for delivery into the Mediterranean at a higher price. Gasoline barges advanced to a record in northwest Europe. Gasoil moved into contango for the first time in four days on the ICE Futures Europe exchange in London.

[Apr. 5, 2012] Materials selection during refinery capital projects is critical to ensuring operational reliability and capital efficiency. Howard Chiang, an engineer at Aramco Services Co. and an industry-recognized expert in materials and corrosion, delivered that message at the recent Fifth Refining China Conference in Beijing.

[Apr. 5, 2012] Shanghai’s funeral homes said they have lost money when cremating bodies in recent years because of an increase in diesel prices.Their relatively low cremation fees, which haven’t changed in 17 years, have forced the industry to charge more for related services to make up for those losses, an industry insider said.

[Apr. 2, 2012] Americans may be grumbling about the high price of gas, but most still pay less for fuel than consumers in other parts of the world. Many in Europe pay more than two dollars per liter – roughly double the average price for gasoline in the U.S. And now, even Chinese consumers – who have long enjoyed government subsidies – are paying more for fuel than Americans. The rising prices are adding to fears of slower growth in the world’s two biggest economies.

[Apr. 2, 2012] Oil companies may adjust retail fuel prices with government guidance under the new fuel-pricing scheme, Peng Sen, deputy director of the National Development and Reform Commission, said at a conference on Wednesday. Companies, in accordance with market conditions, can make tariff changes within the range set by the government "at an appropriate time", while China’s price control authorities will strengthen their supervision, Peng said, clarifying media reports that China will let oil companies set fuel prices.

[Apr. 2, 2012] China will let oil companies set fuel prices according to government-guided rates, the official Xinhua News Agency reported, citing a vice chairman at the nation’s top economic planner.

[Apr. 2, 2012] Fuel oil prices on the Shanghai Futures Exchange (SHFE) fell Friday following an overnight retreat in global crude oil prices.

[Apr. 2, 2012] China’s refined oil product inventories stood at 16.21 million tonnes at the end of February, the highest in a year and enough to last 22 days at the current demand rate, the China Petroleum and Chemical Industry Federation (CPCIF) said on Friday.

[Mar. 30, 2012] Helped by high crude prices last year, China’s leading offshore oil producer CNOOC Limited said it earned a record 70.26 billion yuan in net profit for a 29.1% increase over 2010. (US$1=6.3 yuan).Its revenue rose 29.5% to 189.28 billion yuan, booste

[Mar. 30, 2012] Chinese entrepreneurs (Consolidation) fuel plus water, sounds more like a joke, but it has a gas station in Sinopec Luoyang, Henan Province, the County real staged.’Oil’ on the truthAccording to the China Broadcasting Network article reports, the vehicle

[Mar. 30, 2012] Sinopec Shanghai Petrochemical Company Limited Procedures for Shareholders to Nominate Candidates for DirectorsShareholders who individually or jointly hold 3% or more of the total voting rights of the Company shall be entitled to nominate candidates for

[Mar. 30, 2012] Iran and its leading oil buyers, China and India, are finding ways to skirt U.S. and European Union financial sanctions on Iran by agreeing to trade oil for local currencies and goods including wheat, soybean meal and consumer products.India, the No. 2 im

[Mar. 30, 2012] The oil market’s view of China is so focused on its rising demand, that its domestic production receives much less attention than it deserves.The tabular content relating to this article is not available to view. Apologies in advance for the inconvenience

[Mar. 30, 2012] PetroChina, the country’s dominant oil and gas producer which also owns refineries, aims to process more high-sulphur crude from the Middle East this year to cut costs and limit refining loss, a top executive said on Thursday."PetroChina has been mak

[Mar. 30, 2012] PetroChina Co., 0857.HK 0.00%China’s biggest listed oil firm by output, said Thursday its net profit fell 5% last year as refining losses outweighed higher oil prices and strong energy demand.The Beijing-based company said it is targeting oil-and-gas outp

[Mar. 30, 2012] A big shift is happening in Big Oil: An American giant now ranks behind a Chinese upstart.Exxon Mobil is no longer the world’s biggest publicly traded producer of oil. For the first time, that distinction belongs to a 13-year-old Chinese company called Pe

[Mar. 29, 2012] A big shift is happening in Big Oil: an American giant now ranks behind a Chinese upstart.Exxon Mobil is no longer the world’s biggest publicly traded producer of oil. For the first time, that distinction belongs to a 13-year-old Chinese company called Pe

[Mar. 29, 2012] Whinger or investor rights campaigner? Views of China Gas depend on whether you are ENN Energy and Sinopec, its hostile suitors, or those it claims are affected by an “unreasonable” deal timetable (three months, no absolute offer, and counting

[Mar. 29, 2012] China country wide enlargement and Reform Commission deputy director Peng Sen stated on March 28th, this twelve weeks we will find to begin the essential oil price tag reform program, shorten the price tag cycle, enhanced pricing mode of operation, enhanc

[Mar. 29, 2012] Sales BranchManufacturerTrademarkPrice on Mar 28th(Yuan/mt)Sinopec S-China Sales BranchMaoming PCF67519600F475B19800F501/50323700Yanshan PC445219200 

[Mar. 29, 2012] the country’s third-largest oil company China National Offshore Oil Corporation disclosed yesterday the 2011 performance report, the data show that in 2011 benefited from rising international oil prices, the company achieved net profit of about 70.2

[Mar. 29, 2012] China National Petroleum Corp. (CNPC.YY) plans to raise CNY20 billion ($3.18 billion) of bills in April, a person familiar with the situation said Thursday.The bills are likely to have a maturity of six or nine months, but the company has yet to decide on

[Mar. 29, 2012] China Petroleum and Chemical Corp (Sinopec) will shut a 30,000 barrels-per-day (bpd) crude oil unit at its Jingmen refinery in April for one-month of maintenance work, an industry source said on Monday.An official contacted at Sinopec’s news office was no

[Mar. 29, 2012] Enterprise annuity plan appeared before the 12 stocks in ten circulation shareholders oil Shigekura six stocks, the Agricultural Bank of China invested the most abundant, the carrying amount of 1.346 billion yuanTrainee newspaper reporter Su WenlongWith t

[Mar. 29, 2012] Devon Energy Corp (NYSE: DVN) helped Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386) strike a $2.5 billion deal to explore North American shale gas resources, according to Devon Energy chief executive John Richels. The deal, in which Sinopec obtained rig

[Mar. 29, 2012] Zhongguang Wang a new County Sinopec gas station, a number of owner complaints, frequently turn off after refueling cars, some cars can not start phenomenon, the owner suspected might be add water, Sinopec 28 responded that may be the oil depot seepage ca

[Mar. 29, 2012] China National Offshore Oil Corp. (CNOOC) Ltd., the listed arm of the country’s leading offshore oil and gas producer, boosted net profit by 29.13 percent from a year earlier to RMB 70.26 billion ($11.14 billion) in 2011.

[Mar. 29, 2012]  China’s gas-fired distributed power sector is expected to consume 30 to 40 billion cubic meters per year of natural gas by 2015 if official development targets are met, an expert said at an industry meeting in Beijing today.

[Mar. 29, 2012] China will reform the pricing mechanisms for electricity and refined oil products this year, an official with China’s top economic planner said Wednesday.Peng Sen, deputy chief of the National Development and Reform Commission (NDRC), said at a work confe

[Mar. 29, 2012] China is the world’s fourth-largest oil producer, pumping more than all the members of the Opec oil cartel barring Saudi Arabia. The International Energy Agency puts Beijing’s output at about 4.1m barrels a day, after steady growth over the pa

[Mar. 29, 2012] China Aviation Oil (Singapore) is seeking up to 1.4 million barrels of jet fuel for April and May, nearly 20 percent more than what it sought for March-April, industry sources said.China Aviation Oil (CAO) is Asia’s top jet fuel buyer and any spot purchas

[Mar. 29, 2012] China will let oil companies set fuel prices according to government-guided rates, the official Xinhua News Agency reported, citing a vice chairman at the nation’s top economic planner.Certain companies will be allowed to adjust gasoline and diesel

[Mar. 28, 2012] Unlike peers PetroChina Co Ltd and China Petroleum & Chemical Corp (Sinopec) , CNOOC’s profit comes solely from exploration and production, making it a key beneficiary of buoyant crude oil prices.State-run CNOOC posted a net profit of 70.26 billion yu

[Mar. 28, 2012] The Economic Observer network reporter Yan KaiRecently,in China BP BP announced the “2030 world energy outlook.”. In the introduction to the report,the BP group chief economist at the Ruhr says,to 2030,China’s dependence on foreign oil i

[Mar. 28, 2012] The first thing I would like to clarify is that China is increasing its domestic oil prices, so it has nothing to do with Crude Oil prices being traded in the market.The price of Crude Oil has been rising for the past few months, but China has been holdin

[Mar. 28, 2012] Stuck Tibet, by far the first fossil fuel-engine oil getting together points got hereRespected statistics, Offshore’s fossil fuel-essential oil arena possesses escort the entrepreneurial world, you might at this moment six jobs are being stuffed int

[Mar. 28, 2012] KUNA reported that Kuwait’s crude oil exports to China jumped 49.8% in February from a year earlier to 962,000 tonnes equivalent to around 243,000 barrels per day for the third straight month of expansion.According to the Chinese General Administration of

[Mar. 28, 2012] Sinopec South China Marketing Company lowered styrene ex-work prices by Yuan 250/mt, with prices from Guangzhou PC and Maoming PC at Yuan 10,350/mt and Yuan 10,250/mt respectively.The new prices would be effective today.

[Mar. 28, 2012] Emissions trading in China may expand beyond power, steel and cement to include the oil and natural gas industries, Point Carbon said, according to Bloomberg. Seven pilot programs including one each in Shenzhen and Shanghai may cover about 30 percent

[Mar. 28, 2012] Scott Darling, an analyst with Barclays in Hong Kong, talks about China Petroleum & Chemical Corp.’s earnings and long-term prospects.Sinopec, as China Petroleum is known, said yesterday fourth-quarter profit dropped 23 percent, missing estimates. Dar

[Mar. 28, 2012] After fourth-quarter profit dropped 23%, Asia’s largest refiner ( SHI , quote ) plans to boost oil production in West China and increase exploration for unconventional resources including gas from shale formations.The Beijing-based China Petroleum & C

[Mar. 28, 2012] After fourth-quarter profit dropped 23%, Asia’s largest refiner ( SHI , quote ) plans to boost oil production in West China and increase exploration for unconventional resources including gas from shale formations.The Beijing-based China Petroleum & C

[Mar. 28, 2012] Vitol has booked the Olympic Spirit II to ship more than 80,000 metric tons of fuel oil from Iran’s Bandar Mahshahr on March 27, 2012, Dow Jones reported.According to oil traders, the Vitol shipment is part of a contract which was signed before Janu

[Mar. 28, 2012]  PetroChina Changqing Oilfield Co. Ltd., a unit of China National Petroleum Corp. (CNPC), is targeting oil and gas output of 50 million tons of oil equivalent (MMtoe) per year by 2013, a 25 percent increase from roughly 40 MMtoe last year, CNPC annou

[Mar. 28, 2012] In the thick of maritime disputes with several of its neighbours, China on Tuesday said it is mapping South China Sea (SCS) with an aim to step up exploration for oil and gas and to reinforce its territorial claims.China may step up its exploration of Sou

[Mar. 28, 2012] Chinese authorities have increased fuel prices twice in less than six weeks to a record high. It’s costing Chinese drivers more than US drivers.Most Chinese motorists are now paying about 1.30 US dollars per liter, while the average American is payi

[Mar. 28, 2012] The Chinese government has granted oil product wholesale licenses to eight more oil companies, both state-owned and private, a statement by the Ministry of Commerce said Tuesday.This is the second batch of new oil products wholesale rights granted this ye

[Mar. 28, 2012]

[Mar. 28, 2012] DateVolumes(10kt)FromStraight-run distillate/mixedToPort of deliveredRemarksMar 1st0.1ChinaN/AN/AHuangpuN/AMar 1st0.1ChinaN/AN/AHuangpuN/AMar 5th7KazakhstanStraight-run distillateZhuhai BaotaZhuhaiN/AMar 6th0.4ChinaN/AN/AHuangpuN/AMar 6th0.1ChinaN/AN/AHua

[Mar. 28, 2012] China may create an integrated shipping system for imported oil via cooperative agreements among state-owned shipping lines, refineries and insurance bodies, with the goal of ensuring energy security.The move aims to address the overwhelming dominance of

[Mar. 28, 2012] China Aviation Oil (Singapore) is seeking up to 1.4 million barrels of jet fuel for April and May, nearly 20 percent more than what it sought for March-April, industry sources said.China Aviation Oil (CAO) is Asia’s top jet fuel buyer and any spot purchas

[Mar. 27, 2012] Sinopec is planning to produce 9.90m tonnes of ethylene in 2012, up by 0.1% from the previous year, the company said in its annual report.The growth rate slowed down from a rise of 9.2% in 2011. The company is not expected to bring any new crackers online

[Mar. 27, 2012] A shipwreck that occurred Tuesday near the coast of southern Guangdong Province has resulted in “a certain amount of oil spill,” the State Oceanic Administration (SOA) said on Thursday, citing monitoring results.The SOA’s South China Sea

[Mar. 27, 2012] The Morning News in order to force Iran to postpone its nuclear program, such as Japan and the EU to slash the purchase of Iranian crude oil, the biggest buyer of Iranian crude oil – China’s imports of Iranian crude oil concern. The latest off

[Mar. 27, 2012] China Petroleum & Chemical Corp. (386), which jointly bid for China Gas Holdings Ltd. with ENN Energy Holdings Ltd. (2688) for HK$15.3 billion ($2 billion), said the offer is “fair” and reflects the company’s value.“We cannot p

[Mar. 27, 2012] Kuwait’s crude oil exports to China jumped 49.8 percent in February from a year earlier to 962,000 tons, equivalent to around 243,000 barrels per day (bpd), for the third straight month of expansion, latest official data showed.Kuwait provided 4.1 percent

[Mar. 27, 2012] Sinopec sees opportunities in unconventional gas resourcesChina Petroleum & Chemical Corp, or Sinopec, will continue to invest overseas in unconventional natural gas and oil to boost its output and offset losses in its refining operations, a company o

[Mar. 27, 2012] The profits of Chinese industrial firms dropped 5.2% y/y to CNY606 billion during the first two months of this year, dragged by a slump in earnings by state-owned companies, National Bureau of Statistics released Tuesday showed.Of the 41 industrial sector

[Mar. 27, 2012]  China Petroleum & Chemical Corp. (SNP), or Sinopec, will start pumping oil into the new crude distillation unit at its Jinling refinery this week, a company report said Friday.The new CDU, with a capacity of 160,000 barrels a day, will be at ful

[Mar. 27, 2012] SINOPEC yesterday denied it has cooperated with a group-purchase website that offers discounted Sinopec prepaid cards after consumers suspected the site may be cheating them.The website, 24quan.com, promoted on its front page that consumers could pay 465

[Mar. 27, 2012] China Petroleum & Chemical Corp., or Sinopec, said Monday its refining operations posted losses in January and February and that it expects the downstream operations to remain unprofitable if oil prices keep going up.Asia’s largest refiner by capacity

[Mar. 27, 2012] China Petroleum and Chemical Corp., commonly called Sinopec, (NYSE: SNP) reported a 2% profit gain for the 2011 fiscal year, even though the company has been hampered by a government-imposed lid on gasoline prices even as crude oil prices have soared.The

[Mar. 27, 2012] Chinese steel producer Wuyang Iron and Stel Co., a subsidiary of chinese steel group Hebei Steel Corporation, has announced that it has won the bidding to supply wide steel plate products to the Lufeng 7-2 oilfield project.The project, owned by China Nati

[Mar. 27, 2012] Much of the investment capital flowing into China’s energy sector has gone to the large state-owned oil and gas companies such as PetroChina (PTR), CNOOC (CEO), and Sinopec (SHI). With state-controlled entities being seen as the stable enterprises that ha

[Mar. 27, 2012] Much of the investment capital flowing into China’s energy sector has gone to the large state-owned oil and gas companies such as PetroChina (PTR), CNOOC (CEO), and Sinopec (SHI). With state-controlled entities being seen as the stable enterprises that ha

[Mar. 27, 2012] A cargo ship carrying 20 tonnes of processed waste oil left Qingdao port of eastern Shandong Province for the Netherlands Monday morning.A cargo ship carrying 20 tonnes of processed waste oil left Qingdao port of eastern Shandong Province for the Netherla

[Mar. 27, 2012] Sinopec sees opportunities in unconventional gas resourcesChina Petroleum & Chemical Corp, or Sinopec, will continue to invest overseas in unconventional natural gas and oil to boost its output and offset losses in its refining operations, a company o

[Mar. 26, 2012] China is studying a system that would allow its three major oil companies to independently set the prices of refined oil products when global oil prices are below $130 a barrel, the Shanghai Securities News reported Friday, citing a government researcher.

[Mar. 26, 2012]

[Mar. 26, 2012] Oil plate in February 15th after weakening trend,as of 10: 10,Donghua energy(002221,Shares) (002221) fell 1.97%,it is 8.46 yuan,turnover of 5273800 yuan.Other stocks,The sea stock(600387,Shares(600387) down 1.73%),Lu Xiang shares(002192,Shares(002192) dow

[Mar. 26, 2012] Oil prices jumped late Friday on Iran supply tensions, but most commodities fell last week as worse-than-expected economic data from China and Europe stoked concerns over global demand.Crude oil briefly surged, as traders seized on reports that Iranian ex

[Mar. 26, 2012] Sinopec Group 20 days of messages,following the Puguang gas field and “Sichuan to East Gas Transmission” project of Sinopec,the largest natural gas construction project — Guangyuan gas field recently won super million cubic meters high y

[Mar. 26, 2012] renetic speculation and sloppy management marked the early days for China’s 20-year-old futures trading network.Today, having survived tests, overhauls, break-ups and reconciliations of decades past, the futures market arena has settled into a perio

[Mar. 26, 2012] China and Indonesia seek to strengthen collaboration and coordination within the cooperative framework of the Association of Southeast Asian Nations (ASEAN).The two countries voiced the willingness in a joint statement issued in Beijing on Sunday as Indon

[Mar. 26, 2012] China Petroleum and Chemical Corp. (SNP: News ), or Sinopec, Sunday reported a 2 percent increase in profit for the full year 2011, driven mainly by higher oil prices and sales.On an IFRS basis, net income attributable to equity shareholders improved 2 pe

[Mar. 26, 2012] Beijing, where National People Congress and Chinese People’s Political Consultative Conference have just come to an end, is filled with the breath of Spring everywhere. Baosteel and CNPC signed a new round of Strategic cooperation agreement in Beijing on

[Mar. 26, 2012] Law Offices of Howard G. Smith announces that it is investigating potential claims against CNOOC Limited ("CNOOC" or the "Company") (NYSE:CEO) concerning possible violations of federal securities laws. The investigation focuses on alle

[Mar. 26, 2012] KUWAIT CITY, May 21, (KUNA): Mayor of Zhanjiang city Ruan Risheng said construction of Kuwait’s $9 billion refinery and petrochemical complex in the southern Chinese city will begin in the first quarter of next year. Ruan made remarks in a statement

[Mar. 26, 2012] China’s apparent consumption of product oil grew at a slower pace in the first two months of 2012 compared with the same period last year, said the National Development and Reform Commission (NDRC), China’s top economic planner, on Wednesday.China consume

[Mar. 26, 2012]

[Mar. 26, 2012] The Chinese Foreign Ministry condemned US sanctions against Tehran, insisting China opposes unilateral sanctions and imposing domestic law on a third country.Editor’s note: While we here in the US have been told by the corporate media the sanctions

[Mar. 26, 2012] China Eastern Airlines Corp. (670), the nation’s second-biggest carrier by passenger numbers, said profit fell 7.7 percent last year as fuel prices rose.Net income dropped to 4.58 billion yuan ($727 million), from 4.96 billion yuan, the company said

[Mar. 26, 2012] HONG KONG—China Petroleum & Chemical Corp. said Sunday that its net profit for 2011 rose 2% as higher oil prices and fuel sales outweighed lower refining margins.The Beijing-based company, also known as Sinopec, said it expects China’s demand fo