[Jan. 13, 2012] Shanghai Nanjiao Petrochemical Exchange has recently put a 128,000 cubic meters of oil product storage facility into operation at Zhoushan in east China's Zhejiang province, a company source told C1 o...
[Dec. 19, 2011] With an expanding network of pipelines carrying gas from Central Asia and a string of new liquefied natural gas (LNG) terminals under construction along China's east coast, industry experts have...
[Dec. 12, 2011] Taiwan’s two major refiners have lowered their gasoline and diesel prices by NT$0.1 liter, after international oil prices became less expensive. With the price adjustment, CPC Corp. is now selling 92-, 95- and 98-grade gasoline at NT$30.9, NT$31.6 and NT$
[Dec. 9, 2011] Taiwan’s exports stood at US$24.68 billion in November, a decline of 8.7 percent from October, but a rise of 1.3 percent from the same period last year, reported the Ministry of Finance (MOF) yesterday. Imports were US$21.47 billion last month, a decline
[Dec. 5, 2011] Singapore-listed Sinostar PEC Holdings has postponed its proposed acquisition of Dongming Runchang Petrochemical Co, which owns a heavy oil conversion facility in east China’s Shandong province, due to the current "unfavorable market conditions and u
[Dec. 1, 2011] China largest refiner Sinopec Corporation has started operations at a new 1.45 million cubic meter commercial crude storage facilities at Cezi Island in east China’s Zhejiang province, its state-owned parent China Petrochemical Corporation, or Sinopec Gro
[Nov. 29, 2011] Jiangxi Provincial Natural Gas Investment Co. Ltd. (Jiangxi Gas) is inviting bids for the engineering, procurement, and construction (EPC) of a gas pipeline network in Jiangxi Province, Hu Bin, a Jiangxi Gas representative, confirmed with Interfax Nov. 28
[Nov. 29, 2011] Gaoyou City in western Jiangsu Province will begin receiving natural gas from the China National Petroleum Corp.-operated (CNPC) 1st West-East Gas Pipeline (WEP I) in March 2012, the Gaoyou municipal government announced on Friday.
[Nov. 24, 2011] China Petroleum and Chemical Corp (Sinopec) , China’s top oil refiner, will delay the startup of a new 160,000-barrel-per-day (bpd) crude oil unit at its Jinling refinery to June next year, a company official said on Thursday."We slowed constru
[Nov. 23, 2011] Yisheng Petrochemical will shut a 650,000 tpa line at Ningbo from December 15 to January 15 due to negative margins, as per Platts. Yisheng Ningbo comprises three PTA lines, two of which can produce 650,000 tpa each, and the third 2 mln tpa. Separately, i
[Nov. 22, 2011] Hubei Province’s Shiyan City will begin receiving natural gas from China National Petroleum Corp. (CNPC) once an extension of the 2nd West-East Gas Pipeline (WEP II) becomes operational next month, an official with the Shiyan municipal government told Int
[Nov. 21, 2011] Shanghai Futures Exchange (SHFE) fuel oil prices rose Nov. 18 despite international crude oil prices plummeting overnight. The most traded 2011 December contract closed the session up 0.27 percent at RMB 4,870 ($776.93) per ton.
[Nov. 21, 2011] China’s third West-to-East gas pipeline is expected to become operational by the end of 2013 and will carry about 30 billion cubic meters (bcm) of gas annually, mainly from Central Asia to southeastern China’s Fujian province, a company source said on Wed
[Nov. 15, 2011] Fujian Province’s dependence on liquefied natural gas (LNG) imports leaves it exposed to rising global oil prices that are nearing the $100 per barrel mark, an industry expert told Interfax Nov. 11.
[Nov. 15, 2011] China National Petroleum Corp. (CNPC) has completed construction of its Liuzhuang underground gas storage (UGS) facility in Huai’an City, Jiangsu Province, the company announced Nov. 9.
[Nov. 15, 2011] The petrochemical sector hopes the government will soon approve a local consortium’s planned investment project in China, the head of the Petrochemical Industry Association of Taiwan said Monday. Association chairman and founder of Ho Tung Chemical, Prest
[Nov. 14, 2011] Shanghai Futures Exchange (SHFE) fuel oil prices rose Nov. 4 following an overnight rally of international crude oil prices. The most traded 2011 December contract closed the session 1.36 percent higher at RMB 4,915 ($776.46) per ton.
[Nov. 14, 2011] Taiwan’s two major refiners have raised their gasoline and diesel prices by NT$0.4 and NT$0.5 a liter respectively, after international oil prices became more expensive. With the price adjustment, CPC Corp. is now selling 92-, 95- and 98-grade gasoline at
[Nov. 10, 2011] Taiwan’s Formosa Petrochemical Corp has scheduled the closure of its 700,000 tonnes per year (tpy) No. 1 naphtha cracker for a 40-day maintenance period starting next September, traders said on Wednesday.The smallest of three naphtha units was previously
[Nov. 10, 2011] China National Petroleum Corp. (CNPC), the country’s largest oil and gas producer, has begun operations at the first phase of its liquefied natural gas (LNG) receiving terminal in Jiangsu Province, CNPC announced today.
[Nov. 10, 2011] Zhangjiagang Furui Special Equipment Co. Ltd. (Furui), a liquefied natural gas (LNG) supply chain provider, will invest RMB 60 million ($9.49 million) to boost production of gas storage tanks and LNG containers, Furui announced Nov. 8.
[Nov. 9, 2011] Taiwan’s two major refiners have lowered their gasoline and diesel prices by NT$0.2 a liter, after a drop in international oil prices. With the price adjustment, CPC Corp. will sell 92-, 95- and 98-grade gasoline at NT$30.9, NT$31.6 and NT$33.1 a liter, r
[Nov. 8, 2011] Shanghai Futures Exchange (SHFE) fuel oil prices fell Nov. 4 despite an overnight rally in oil prices. The most traded 2011 December contract closed the session up 0.25 percent at RMB 4,873 ($769.83) per ton.
[Nov. 8, 2011] China Petrochemical Corp. (Sinopec Group), China’s second-largest oil and gas producer, will build a liquefied natural gas (LNG) terminal in Zhejiang Province’s Wenzhou City, an official with the Wenzhou arm of the National Development and Reform Commissi
[Nov. 2, 2011] Abu Dhabi’s Mubadala Industry and China’s Jiangsu Surun High Carbon have inked a joint venture agreement to produce calcined petroleum coke in Zhenjiang, China, the companies said in a joint statement Monday.Mubadala is a business unit of Mubadala Develop
[Nov. 2, 2011] Linde LienHwa (LLH), The Linde Group’s joint venture with LienHwa MiTAC Group of Taiwan, today announced a further strengthening of its commitment to the TFT-LCD industry in China with the opening of a major ultra-high purity gas plant at BOE Techno
[Oct. 28, 2011] Sinopec Shanghai Petrochemical Company Limited ("Shanghai Petrochemical" or the "Company") (HKEx: 338; SSE: 600688; NYSE: SHI) announced today the unaudited operating results of the Company and its subsidiaries (the "Group")
[Oct. 28, 2011] GS Caltex said Thursday that it has completed a polymer compound plant in China, as Korea’s second-largest oil refiner continues to expand its overseas business portfolio.The plant, located in Suzhou, Jiangsu Province, has started commercial operati
[Oct. 27, 2011] The Ministry of National Defense (MND) rebutted Wednesday a magazine report that the government has decided to deploy missiles on Taiping Island in the South China Sea and to restation military personnel on the island. In a statement, the MND said the rep
[Oct. 24, 2011] Nanjing Towngas Co. Ltd., the gas distributor for Nanjing, Jiangsu Province, has warned that the city faces average monthly gas shortages of eight million cubic meters (mcm) this winter.
[Oct. 24, 2011] Taiwan’s two major refiners have raised gasoline and diesel prices by NT$0.1 a liter respectively, as international oil prices rose last week. With the upward adjustment, CPC Corp. will this week offer 92-, 95- and 98-grade gasoline at NT$31.1, NT$31.8 an
[Oct. 24, 2011] Reuters reported that Jingsu Hengli Highpressure Oil Cylinder Co will raise CNY 2.4 billion from an initial public offering in Shanghai after pricing its shares at the top of a narrow range as China key stock index hovers near a 31-month low.The maker of
[Sept. 22, 2011] Fujian Province has temporarily set its retail gas price at RMB 3.88 ($0.60) per cubic meter, effectively pegging the price to the cost of liquefied natural gas (LNG) purchased on the spot market, the Fujian Provincial Pricing Administration (FPPA) announ
[Sept. 20, 2011] Fuqing City in southeast China’s Fujian Province began receiving natural gas from China National Offshore Oil Corp.’s (CNOOC) Putian City liquefied natural gas (LNG) terminal Sept. 19, the Fuqing municipal government announced the same day.
[Sept. 19, 2011] The first batch of ethylene from mainland China has arrived in Taiwan, the state-owned oil refiner CPC Corp. Taiwan said Friday.CPC said that its fifth naphtha cracker plant, which has an annual production of 500,000 metric tons of ethylene, is undergoing
[Sept. 16, 2011] Zhejiang Province’s Jinhua City has pegged the price of pipeline gas to the cost of liquefied natural gas (LNG) purchased on the spot market under a regulation introduced by the Jinhua Municipal Price Bureau Sept. 15, state media reported Sept 15.
[Sept. 15, 2011] The China Post news staff--The accident-plagued Formosa Petrochemical Corp. (FPC) will appoint a former top executive from its major competitor, the CPC Corp. Taiwan to head its board of directors today as it seeks to reform the management. Chen Pao-liang
[Sept. 14, 2011] Taiwan’s government, a claimant to the disputed South China Sea but unable to make noise diplomatically as China squelches its international profile, is trying a new approach to draw attention to and ease tension over the resource-rich region: envir
[Aug. 25, 2011] Taiwan once worried about the possible threat to national security in cooperating with China to explore oil reserves in the Taiwan Strait, according to cables released by Wikileaks.The whistleblowing website also revealed that even though Taiwan-Chi
[Aug. 23, 2011] Asian gas oil cracks slipped further below $18 a barrel to anear two-month low on Monday, as the partial restart of Formosa Petrochemical Corp’s refinery in Taiwan added to concerns of persistently high supplies in the region. Formosa restarte
[Aug. 22, 2011] Taiwan’s two major refiners have raised gasoline and diesel prices by NT$0.2 a liter to reflect a slight increase in international oil prices. With the price adjustment, CPC Corp. is now offering 92-, 95- and 98-grade gasoline at NT$30.8, NT$31.5 and NT$3
[Aug. 19, 2011] China National Petroleum Corp.’s (CNPC) Rudong liquefied natural gas (LNG) terminal in eastern China’s Jiangsu Province has throughput 560,000 cubic meters (cm) of LNG principally sourced from Qatar since going on-line in May this year, state media report
[Aug. 19, 2011] China’s National Energy Administration has mapped out guidelines to boost the use of natural gas for small, distributed power plants 10-fold over the next decade, according to Chinese media. By 2020, total gas-fired power generation capacity at thes
[Aug. 18, 2011] Shanghai Futures Exchange (SHFE) fuel oil prices rose slightly Aug. 17 despite crude oil prices dropping overnight. The most traded 2011 December contract closed the session up 0.14 percent, at RMB 5,065 ($791.41) per ton.
[Aug. 18, 2011] Four Taiwanese petrochemical companies said yesterday they had signed agreements with Chinese partners on a proposed petrochemical project in Fujian Province, China, aiming to build oil refineries and produce petrochemicals, including ethylene, in 2015 at
[Aug. 15, 2011] Shaoxing Gas Industry Group Corp. (Shaoxing Gas Group), a state-owned gas distributor in Shaoxing City, Zhejiang Province, will begin construction of a liquefied natural gas (LNG) storage depot in October, state media reported August 11.
[Aug. 15, 2011] The per-liter prices of gasoline and diesel in Taiwan are expected to go down next week by NT$0.50 and NT$0.60, respectively, as a result of a recent downturn in international crude oil prices. The prices of crude oil were dragged down by the U.S. stock m
[Aug. 5, 2011] Striking cab drivers in the eastern Chinese city of Hangzhou returned to work Thursday after three days of protests that prompted the local government to promise to hike fares.The cabbies had begun to take passengers again Thursday morning. They were no l
[Aug. 5, 2011] Jiangsu Province’s Nantong City has begun receiving natural gas via a spur of the West-East Pipeline I (WEP I), state media reported Aug. 3.
[Aug. 4, 2011] LPG price was posted at Yuan 6,010/mt in Jinling PC, Jiangsu province of E-China. Daily output was around 1,100mt, and stocks were around 1,000mt in the morning. Later the refiner raised prices by Yuan 100/mt to Yuan 6,110/mt. BP Z
[Aug. 1, 2011] Taiwan stocks traded flat afteropening down 0.16 percent on Monday, with Formosa Petrochemical plunging the daily maximum 6.9 percent after theseventh fire in a year at its flagship refinery over theweekend. The company was ordered by Taiwan’s
[Jul. 28, 2011] Asia’s naphtha price andcracks fell to a four-session low on Wednesday as news Asia’stop naphtha buyer Formosa was likely to delay the restart of aNo. 1 cracker and stick to shutting its No. 3 cracker formaintenance weighed on sentiment.
[Jul. 28, 2011] Sinopec Corp , Asia’s largest refiner, will postpone the startup of a planned maintenance of its 100,000 barrel-per-day (bpd) Jiujiang refinery by one month to late August, an industry source said on Wednesday. The delay was partly due to slow deliveries
[Jul. 28, 2011] China Merchants Energy Shipping (601872), an operator of tankers, bulk carriers and LNG carriers, recorded a 54.94 percent year-on-year fall in first half 2011 net profit attributable to shareholders to 199 million yuan, with earnings per share of 0.06 yu
[May 26, 2011] PetroChina’s first liquefied natural gas (LNG) terminal received its first cargo, state media said, suggesting rising energy supplies in Jiangsu province that was expected to face the worst summer power shortages in China.
[Apr. 18, 2011] China increased banks’ reserve requirements to lock up cash and cool inflation, and central bank Governor Zhou Xiaochuan said monetary tightening will continue for “some time.”
Reserve ratios will rise a half point from April 21, the People’s Bank of China said on its website yesterday, pushing the requirement to a record 20.5 percent for the biggest lenders. The move came less than two weeks after an interest-rate increase. Zhou sees no “absolute” limit on how high reserve requirements can go, he said April 16.
[Mar. 24, 2011] Fuel oil inventories in major commercial tank farms of East China amounted to 440,000mt Wednesday, up 90,000mt or 26% from one week ago, C1’s research showed. The volume accounted for 40.7% of the total fuel oil containing capacity.
[Mar. 16, 2011] Taixing Jinhua Petrochemical has recently put a 126,600-cu-m oil product terminal into operation in Taixing City of East China’s Jiangsu Province, a company source told C1.
[Jan. 12, 2011] ONE worker died and 10 others were hospitalized after inhaling toxic gas leaking from a chemical factory in east China’s Jiangsu Province, Xinhua reported today.Four are being treated in the Intensive Care Unit in Subei People’s Hospital in Yangzhou City.
[Jan. 12, 2011] Shanghai－－Sinopec Qingdao Refinery saw its LPG barge sales decline as cold weather persisted, C1’s survey found.The refinery sold about 4,000mt of LPG by barge early January, down 12.1% from one month earlier, showed C1’s shipping fixtures."
[Jan. 12, 2011] China’s top oil and gas firm CNPC and Qingdao Port Group have signed a framework agreement on operating a wharf for the China-Myanmar crude oil pipeline, media said on Tuesday.The China Petroleum Daily gave no details on the deal, though it said part of the work on the wharf in Myanmar where the oil will be unloaded had been finished in November.
[Jan. 10, 2011] Bloomberg reported that oil refineries in China, the world biggest energy consumer increased processing rates in the two weeks ended recently as a crude unit in Shanghai resumed production after maintenance.PetroChina Co and China Petroleum &
[Jan. 10, 2011] A chemical leak sickened 62 people Thursday at a pharmaceutical plant in east China’s Anhui Province, the local government said Friday.The victims, all of whom were workers of the Wanbei Pharmaceutical Co. Ltd in Suzhou City, fell ill after inhaling fumes from the highly toxic solid phosgene, also known as triphosgene or BTC, that leaked from a laboratory at around 4:30 p.m. Thursday, said Zhu Hai, an official in charge of the city government’s emergency response office.
[Jan. 6, 2011] Reuters reported that China Petroleum and Chemical Corp, or Sinopec Corp produced 27.34 million tonnes of crude oil at its largest Shengli oilfield in 2010, or 546,800 barrels per day.According to data from Xinhua News Agency that, the output was 1.8% less than production in 2009 when the field produced 556,700 barrels per day of oil.Shengli in eastern Shandong province is China second largest oil field which began operating in 1974.
[Jan. 6, 2011] Anhui Guotong Hi-Tech Pipes Industry (600444) predicts that it will generate a net profit of 4.45 million yuan in 2010, compared to a loss of 86.16 million yuan it suffered in 2009, reports stcn.com, citing a company filing.The company capitalized on the economic recovery and the nationwide infrastructure construction to return to profit.
[Jan. 4, 2011] It is reported that China Ministry of Transport has approved the phase II construction of what will be the country’s largest crude oil terminal.The Shihua Crude Oil Terminal will be built at the Port of Ningbo and has been designed to have throughput capacity of 18 million tonnes per year.
[Dec. 28, 2010] Shanghai－－Sinopec Qingdao refinery is slated to process 850,000mt of crude in January, with daily consumption basically flat with the previous month, a refinery source told C1.The refinery delayed refining capacity expansion project by two months to August 2011, the source revealed, adding it set crude throughput target for the year at 9-mil mt.
[Dec. 27, 2010] Shanghai－－Jiangsu Deqiao Storage is expected to expand storage capacity of its tank farm from the current 126,000 cu m to 300,000 cu m by the end of 2011, a company source told C1, adding the expansion was underway.Jiangsu Deqiao Storage brought on stream 126,000-cu-m tank farm in Jingjiang City in East China’s Jiangsu Province in July 2010, comprising 20,000-cu-m fuel oil tanks, 50,000-cu-m distillate tanks and 56,000-cu-m chemical tanks.
[Dec. 24, 2010] HOUSTON -- Sinopec’s 1.27-bcfd Puguang natural gas plant in China’s eastern Sichuan province is using Black & Veatch’s Interstage Cooling technology to remove H2S and CO2 from feed gas produced from Puguang field.
[Dec. 24, 2010] Sinopec<600028><0386>, the largest refiner in Asia by capacity, plans to team up with Anhui-based Wanbei Coal-Electricity Group to build a coal chemical base in Huainan of the province, sources reported.Sinopec and Wanbei Coal-Electricity recently set up a 50:50 joint venture that will invest a total of RMB 24.2 billion in the base.
[Dec. 22, 2010] Sinopec Yizheng Chemical Fibre Co Ltd<600871><1033>, a subsidiary of Sinopec Group, announced yesterday that it will team up with Far Eastern New Century Corp, the largest polyester maker by capacity in Taiwan, to set up a joint venture in Yizheng, Jiangsu Province, sources reported.
[Dec. 21, 2010] Shanghai－－Huachen Energy has shut all of its facilities and units for turnaround since a 10,000-cu-m propane tank suddenly caught a fire early morning Dec 18, an informed source said, adding the overhaul is expected to last two months.
[Dec. 21, 2010] Shanghai -- Zhejiang Province intends to put natural gas-powered vehicles on its roads in 2011, state media reported Dec. 19, citing a senior provincial official’s comments at a recent industry forum.
[Dec. 17, 2010] Shanghai－－Sinopec’s fuel oil and bunker sales and marketing arm Sinopec Fuel Oil Sales has recently started inner-trade bunker business in Tianjin, Caofeidian and Huangye ports in the Bohai Bay, a company source told C1.The Tianjin branch of Sinopec Fuel Oil Sales has rented from private bunker traders 2,900-cu-m oil terminal and 3,000-DWT jetty in Tianjin, as well as three refueling barges, the source revealed.
[Dec. 16, 2010] According to Shanghai Petrochemical Exchange (SPEX), SPEX would start trading business of spot LNG(liquefied natural gas) and LPG (liquefied petroleum gas ) on Dec 17, 2010.It would be the first e-commerce channel for natural gas trading business in China.
[Dec. 14, 2010] Bloomberg reported that oil refineries in China, the world biggest energy consumer lowered crude processing rates as a diesel shortage eased and some plants started maintenance.The Shandong-based industry website said in a fortnightly survey that PetroChina Co and China Petroleum & Chemical Corp were among refiners that operated at an average 83.47% of capacity as of recently 4.24 percentage points lower than two weeks earlier.
[Dec. 10, 2010] A diesel supply shortage in eastern China has eased after state refiners produced at full capacity and ramped up imports, the chairman of the biggest oil- processing plant in Jiangsu province said.The nation’s largest refiners, PetroChina Co. and China Petroleum, known as Sinopec, boosted oil processing to a record last month and resumed imports of the fuel for trucks and power generators as the nation battled a Diesel shortage that depleted at least 2,000 gas stations.
[Dec. 10, 2010] A diesel supply shortage in eastern China has eased after state refiners produced at full capacity and ramped up imports, the chairman of the biggest oil- processing plant in Jiangsu province said.
[Dec. 9, 2010] Shanghai－－Jiangsu Jurong Petrochemical in East China has postponed the plan to start operation of a 1-mil-mt/yr residue fluid catalytic cracker (RFCC) in December 2010, according to a source with the company. It will bring this unit on line in February-April 2011, said the source.
[Dec. 9, 2010] Shanghai－－Taiwan’s Formosa Petrochemical Corporation issued a tender Wednesday, selling 1,500-2,000mt of pressurized LPG at 3:7 ratio for Jan 1-10 loading at Mailiao, traders said. The tender closes at 13:30 of Dec 9 and will remain valid till 18:00 of the same day.
[Dec. 9, 2010] Shanghai Futures Exchange (SHFE) fuel oil prices dropped on Dec. 8 as international crude oil prices softened overnight due to profit-taking. The most traded 2011 March contract closed the session at RMB 65 ($9.76), or 1.33 percent lower at RMB 4,818 ($72
[Dec. 9, 2010] SHANGHAI - French specialty chemical producer Rhodia on Monday announced the acquisition of Feixiang Chemicals in Zhangjiagang, Jiangsu province, for $489 million.""This acquisition represents a unique opportunity for Rhodia to integrate specialty amines technologies and key intermediates of surfactants into its Novecare business portfolio," said Jean-Pierre Clamadieu, chairman and chief executive officer of Rhodia.
[Dec. 7, 2010] C1 Energy (Shanghai) －－Sinopec Shanghai Petrochemical is slated to refine 920,000mt of crude in December, with daily consumption flat with the previous month, according to a refinery source.The refinery shut a 1-mil-mt/yr fluid catalytic cracker for 10-day maintenance on Dec 3, imposing few impacts on crude throughput, the source said.
[Dec. 7, 2010] C1 Energy (Shanghai) -- CNOOC Taizhou refinery shut down production for 15-day turnaround as from Dec 1, according to a source with the refinery.Taizhou refinery is one of East China’s major producers of residue, which the refinery usually sells under the name of 200# bitumen or bituminous feedstock. It normally supplies 50,000-60,000mt of such feedstock per month, about 30% of the total monthly supply in East China.
[Dec. 3, 2010] US’s San Joaquin Refining Co Inc (SJR) sent 500mt of 2000L environment-friendly naphthenic base oil samples to China recently, an East China-based trader revealed.These samples were tried out in some large-scale tyre companies based in East China, he added.
[Dec. 1, 2010] Shanghai -- Sinopec set December naphtha ex-refinery price for its underlying refineries at Yuan 6,120/mt, up Yuan 280/mt from November, a source with the refiner told C1. Ex-refinery price of naphtha supplied to eastern chemical enterprises by Tahe Refinery would be lifted from Yuan 5,340/mt to 5,620/mt in December, added the source.
[Nov. 30, 2010] AMAC Energy Inc. (NYSE Amex:CAK), a U.S.-based energy company engaged in the exploration, development and production of oil and gas, today announced the positive results from the ZJS-02 well that was successfully drilled to a total depth of 1784 meters.
[Nov. 30, 2010] China Gas announced after market close on November 26 that it hasentered into a JV with one of its strategic shareholders, Oman Oil (holding5.45%), in which China Gas will hold 55% interest by directing all assets ofShanghai Zhongyou Energy (its LPG business) toward the JV, and OmanOil will hold 45% interest through the injection of US$131.5 mn in cash.
[Nov. 29, 2010] PetroChina reported losses from the import of liquefied natural gas (LNG), reports China Business News. PetroChina has imported natural gas to meet high demand for gas in winters over the past few years as most of the gas storage bases in east China are under construction.
[Nov. 29, 2010] Cooperation with OOC will enhance Shanghai Zhongyou Energy’s ability to integrate the LPG business aimed to enhance overall corporate value.Leading PRC piped-gas operator China Gas Holdings Limited (“China Gas”) has entered into a joint-venture agreement with one of its major shareholders, Oman Oil Company S. A. O. C (“OOC”).
[Nov. 29, 2010] China Business News citing a company official based at an LNG terminal said China National Petroleum Corp. lost hundreds of millions of yuan on liquefied natural gas imports to help meet the country winter fuel demand.China Business News citing an official identified only by his last name Mr Hong at Jiangsu LNG Terminal owned by CNPC unit PetroChina Co said CNPC lost money on six LNG cargoes recently.
[Nov. 26, 2010] Shanghai Petroleum Exchange Ltd., a Shanghai-based market for fuel exchanges, said it will launch China’s first LNG (liquified natural gas) and LPG (liquified petroleum gas) spot trading system in December.
[Nov. 24, 2010] SHANGHAI -- Natural gas shortage will not occur in Shanghai this year and there is no more gas price hike in the Chinese economic hub in 2010, said the Shanghai Gas (Group) Co., Ltd., the city’s largest natural gas operator and supplier, on Tuesday.
[Nov. 24, 2010] Shanghai Petroleum Exchange Ltd., a Shanghai-based market for fuel exchanges, said it will launch China’s first LNG (liquified natural gas) and LPG (liquified petroleum gas) spot trading system in December.
[Nov. 24, 2010] Most petrol stations subsidiary to Sinopec and PetroChina stopped rationing gasoil and resumed normal supply in eastern coastal areas, C1’s survey found.A source with Sinopec Guangdong said the company allocated 5-10% more gasoil to underlying petrol stations compared to last week, which might indicate eased supply. The opinion was echoed by sources with Sinopec’s sales branches in East and North China.
[Nov. 22, 2010] Zhejiang province in east China has put a methanol gasoline (M-gasoline) project with annual production capacity of 200,000 metric tons (tonnes) into operation.
[Nov. 18, 2010] Sinopec Shanghai Petrochemical Co Ltd<600688><0338><SHI> has decided to increase diesel production by 20,000 tons this month to ease diesel supply shortage in China, especially in Zhejiang Province, Gansu Province and Jiangxi Province.
[Nov. 17, 2010] Wholesale prices of LPG from domestic refineries were weighed on by offers of imported LPG in East China, an informed source said.Zhangjiagang Oriental Energy Co (ZOUEC)’s LPG terminal in Ningbo City in Zhejiang Province sold imported LPG for resident use.
[Nov. 17, 2010] China is seeking additional quantities of naphtha for the last quarter of 2010, probably extending the bull-run until Q1 2011. Unipec, trading arm of top Chinese oil firm Sinopec has bought at least three medium-range cargoes of 30,000 tons each, for Q4
[Nov. 15, 2010] Photo taken on Nov. 7, 2010 shows a general view of a construction site of PetroChina’s liquefied natural gas (LNG) receiving station project in the Yangkou Port of Nantong, east China’s Jiangsu Province.
[Nov. 12, 2010] Sinopec Gaoqiao Petrochemical started to export fuel oil under processing trade in October, according to a source with the Shanghai branch of Sinopec Fuel Oil Sales.The refinery exported 5,000mt of 380CST fuel oil in the month。
[Nov. 12, 2010] Air Products and Chemicals, Inc. announced China’s first air separation unit (ASU) facility that uses liquefied natural gas (LNG) cold energy to produce industrial gases has been brought onstream.
[Nov. 10, 2010] Sinopec is expected to import about 80,000mt of gasoil to East China in the near term, according to an informed source.It will be the first time China imported gasoil by the name of general trade since 2009, C1’s record showed.Refineries affiliated
[Nov. 10, 2010] Sinopec Zhenhai Refining & Petrochemical Co. Ltd. (ZRCC) has launched a new ethylene oxide/ethylene glycol (EO/EG) plant in China utilizing the revolutionary METEOR EO/EG process.
[Nov. 10, 2010] Dow has announced that Sinopec Zhenhai Refining and Petrochemical has launched an ethylene oxide/ethylene glycol (EO/EG) plant in China utilising the Meteor EO/EG process.
[Nov. 10, 2010] Sinopec Zhenhai Refining & Petrochemical Co. Ltd. (ZRCC) has launched a new ethylene oxide/ethylene glycol (EO/EG) plant in China utilizing the revolutionary METEOR™ EO/EG process.
[Nov. 9, 2010] Sinopec Yangzi Petrochemical put its 4.5-mil-mt/yr crude distillate unit into maintenance on Nov 7 owing to temporary glitch, expected to last 1-2 weeks, according to a refinery source.The refinery’s crude throughput would thus drop to about 600,000mt
[Nov. 9, 2010] Sinopec Zhenhai Refining & Petrochemical Co. Ltd. (ZRCC) has launched a new ethylene oxide/ethylene glycol (EO/EG) plant in China using Meteor technology licensed through Dow Chemical Co
[Nov. 9, 2010] The diesel shortage that hit China’s eastern Jiangxi Province is likely to last until the second half of this month, the local government said Monday.
[Nov. 1, 2010] Some gas stations throughout Hangzhou in East China have run dry, and truck drivers have been struggling to fuel their businesses in the last week, Qianjiang Evening News reported Monday.Ge, a truck driver in Hangzhou.
[Nov. 1, 2010] China on Friday refuted the report that said it agreed to resume negotiation with Japan on the exploration of oil and gas fields in East China Sea, during a meeting between the two countries’ foreign ministers.
[Oct. 29, 2010] Sinopec Shanghai Petrochemical Co Ltd<600688><0338>, which is the largest ethylene producer in China and a subsidiary of Sinopec Group, announced that its net profit attributable to the parent company rose 16.5% year on year to RMB 1.79 billion in the first nine months of this year, sources reported.
[Oct. 29, 2010] Fujian Refining & Petrochemical hiked its daily commodity LPG output to 900mt from Oct 28, sharply up 50% or 300mt, a refinery source told C1.
[Oct. 21, 2010] Sinopec’s Gaoqiao Petrochemical would put its base oil production facility into 37-day maintenance on Nov 20, said a source with the refinery.
[Oct. 20, 2010] Shandong-based Longkou Bingang Oil Tank Farm (Bingang Liquid Chemicals Terminal Co) plans to start operating 100,000 cu m of fuel oil tanks at the end of 2010, a source with the tank farm told C1 on Oct 19.
[Oct. 19, 2010] Coker run rate in Shandong independent refineries slipped by 3.4 percentage points to 58.2% over the past two weeks, observed C1.Petcoke sales were well in Shandong independent refineries during the past two weeks.
[Oct. 19, 2010] Sinopec Gaoqiao Petrochemical is slated to process about 600,000mt of crude oil in November, sharply down 30% from the previous month, revealed a source with the refinery.
[Oct. 15, 2010] China National Offshore Oil Corpor ation (CNOOC), China’s largest offshore oil and gas producer, plans to build nine LNG (liquefied natural gas) receiving terminals along the Chinese coast.
[Oct. 15, 2010] CNOOC Shanghai LNG terminal in 2010 may receive about 1.4 million metric tons (tonnes) of LNG, Dow Jones cited a company official Wednesday.The report said the Shanghai LNG terminal received 7.2 million tonnes of LNG during the first half.
[Oct. 14, 2010] British oil major BP has sold its LPG (Liquefied petroleum gas) assets in the port city of Ningbo to a local trader of the fuel, the latest move by the oil giant to slim its LPG business in China.
[Oct. 14, 2010] ZOUEC expects to officially take over BP Suzhou at the end of October, consisting of two 32,000-cu-m refrigerated LPG tank farms and two 6,300-cu-m pressurized tanks, a terminal source said. ZOUEC did not purchase BP’s LPG retail business in Suzhou. In August, the company purchased BP’s 500,000-cu-m LPG caves in Daxie Island of Ningbo City, Zhejiang Province.
[Oct. 14, 2010] BP was reported to have gradually slimmed its business in China’s LPG, fuel oil and petrochemical sectors in the past few years due to a change in strategy, according to sources from the industries. According to sz report, Sinopec ZRCC to take back LPG sa
Nanjiao Petrochemical Exchange operates new oil product terminal
