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 4, 2012]  China will formally employ its first home-made, deep-sea semi-submersible drilling platform in the east part of South China Sea on May 9, marking the beginning of the country’s deepwater oil strategy, the National Energy Administration said.Ocean Oi

[May 4, 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 expanded by

[May 3, 2012] China’s largest oil trading firm, UNIPEC has taken over the marketing of Ghana’s share of crude Oil from the Jubilee field. JOYBUSINESS has learnt the firm took over the role from January this year. This was after the Ghana National Petroleum Company deci

[May 3, 2012] Iran’s state-run oil company has denied that China and Japan had sharply cut imports of Iranian crude, maintaining Tehran’s assertions that economic sanctions imposed by the West were having little effect. Mohsen Qamsari, international affairs

[May 3, 2012] ConocoPhillips said Monday that it will pay $191 million to a Chinese agency for the company’s role in oil spills off northeastern China. ConocoPhillips said the deal resolves all pending government claims related to the spill. The payment by ConocoPhilli

[May 2, 2012] China has ordered oil giant ConocoPhillips and China National Offshore Oil Corp. to pay $269 million for oil spills at a Bohai Bay oilfield run by Conoco.

[May 2, 2012] ConocoPhillips reached an agreement with Chinese regulators to resolve all pending government claims related to June oil spills in Bohai Bay, off northeastern China.

[Apr. 30, 2012] PetroChina Co. Ltd., the listed vehicle of China’s largest oil company China National Petroleum Corp. (CNPC), booked RMB 39.15 billion ($6.23 billion) in net profit for the first quarter (Q1) of the year, a 5.8 percent year-on-year increase, according to the company’s earnings report released late Thursday.

[Apr. 30, 2012] The listed arms of state-owned energy giants China National Petroleum Corp. (CNPC) and China Petrochemical Corp. (Sinopec Group) announced mixed first quarter (Q1) results late Thursday, with CNPC’s PetroChina Co. Ltd. posting a 5.8 percent bump in quarterly profits year-on-year, while earnings at Sinopec plunged 35 percent.

[Apr. 30, 2012] Vice-Premier Li Keqiang on Sunday called for Chinese and Russian local governments to increase cooperation and investments, an important step to deepen ties in key areas.

[Apr. 30, 2012] With ties between China and Russia at a "new historical point", now is the time for the two nations to work closer together on major projects in energy, high technology and finance, Vice-Premier Li Keqiang said on Saturday.

[Apr. 30, 2012] Vice-Premier Li Keqiang on Sunday called for Chinese and Russian local governments to increase cooperation and investments, an important step to deepen ties in key areas.

[Apr. 27, 2012] Chinese Vice-Premier Li Keqiang’s upcoming visit to Russia would further facilitate the development of China-Russia relations, Chinese Ambassador to Russia Li Hui said.

[Apr. 26, 2012] Swiss engineering group ABB (ABBN.VX) is banking on stronger growth in North America to offset a weaker China and tough austerity measures in southern Europe, after first-quarter orders beat expectations.

[Apr. 26, 2012] As concerns eased about a sharp economic slowdown in China- the world’s biggest energy user, oil prices edged higher in Asian trade on Tuesday as per economictimes.com. This uptrend however, was capped by economic and political uncertainty in Europe amid a weaker euro that was helping dampen demand for dollar-priced crude. Brent North Sea crude for June inched up to US$118.8.

[Apr. 26, 2012] CNOOC Ltd, China’s biggest offshore oil producer, yesterday posted a 3.7 percent gain in quarterly revenue on higher crude prices, despite lower output caused by the shutdown of its biggest field.

[Apr. 26, 2012] Air Liquide SA (AI), the world’s biggest producer of industrial gases, reported first-quarter sales that met analysts’ estimates, led by growing demand in North America and developing economies such as China.

[Apr. 26, 2012] China National Offshore Oil Corp Ltd, the country’s biggest marine oil producer, said on Tuesday that its net production in the first quarter declined by 6.3 percent year-on-year to 79.8 million barrels of oil equivalent, due to the suspension of production at the Penglai 19-3 oilfield.

[Apr. 25, 2012] A Philippine exploration firm has found more-than-expected natural gas in a disputed area of the South China Sea, a discovery likely to inflame territorial tensions with China.

[Apr. 25, 2012] The escalation of tension between Sudan and its newly independent neighbor South Sudan has showed no sign of easing this week, fueling deep concern among the international community.

[Apr. 24, 2012] Shipowners in China willing to call on Iran after the May 1 ramp-up of sanctions are asking for freight rates of $70-75/mt to travel on the Iran-China route, up from$45-55/mt previously, market sources said Monday.

[Apr. 24, 2012] A host of foreign relations developments and issues in Asia and Africa have begun to pose problems for China’s oil imports.Last week, a military standoff flared up between China and the Philippines over Scarborough Shoal in the South China Sea after Chinese fishermen were found fishing in waters claimed by the latter country. Around the same time, India successfully test-fired its first intercontinental ballistic missile.

[Apr. 24, 2012] Premier Wen Jiabao started his sixth trip to Germany on Sunday, a visit that will enhance the strategic partnership with Europe’s largest economy and reaffirm China’s contribution to measures tackling the EU debt crisis.

[Apr. 24, 2012] China urged Sudan and South Sudan on Monday to protect the rights and interests of Chinese oil companies that have established projects in the two countries.

[Apr. 23, 2012] China crude oil stockpiles climbed 2 percent higher in March than a month earlier, with oil firms thought to be restocking following a steady decline in inventories since the fourth quarter of last year.

[Apr. 23, 2012] Iceland will show off its volcanic power in a bid to increase trade with the fastest growing major economy as Chinese Premier Wen Jiabao visits the island.

[Apr. 19, 2012] Argentina’s move to nationalise local oil company YPF, controlled by Spain’s Repsol, has scuppered years of planning by China’s Sinopec Group to buy the South American company, sources said.

[Apr. 16, 2012] Oil prices fell to near $103 a barrel Friday after data showed economic growth slowed more than expected in China, the world’s second-largest crude consumer.

[Apr. 16, 2012] The Petroleum Minister Dr. Awad Ahmed Al-Jaz, has asserted the deeply-rooted Sudanese Chinese relations, where the two countries have agreed on continuation of oil cooperation to increase the country oil production via more oil investments, affirming the keenness to surpass difficulties through the production, commending in the same time the success of oil cooperation between the two countries.

[Apr. 16, 2012] Crude oil futures traded lower for the first time in three days Friday as China’s economy showed signs of slowing and Saudi Arabia’s oil minister vowed to see lower prices.

[Apr. 16, 2012] Oil prices fell Friday and headed for a weekly loss after data showed that first-quarter economic growth in China, the world’s No. 2 oil consumer, was the weakest in nearly three years, reinforcing concerns about slowing demand for petroleum.

[Apr. 16, 2012] Shanghai Futures Exchange (SHFE) fuel oil prices sank in thin trade on April 13 despite an overnight rise of international crude oil prices. The most traded 2012 May contract closed the session down 0.83 percent at RMB 5,452 ($866.77) per ton.

[Apr. 16, 2012] US Crude price fell on Friday on less-than-expected GDP growth in China and returns of European debt concerns. The market was heavily weighed by China’s economic slowdown. The latest data showed that China’s gross domestic product grew 8. 1 percent in the first quarter, the weakest pace in nearly three years and lower than market’s expectation. Investors restarted talks about the world’s second largest economy’s hard landing, which loomed over the oil demand outlook.

[Apr. 16, 2012] China has put the country’s first oil spill response vessels (OSRV) into use, a move to strengthen emergency response capabilities in case of oil spill accidents

[Apr. 13, 2012] CNPC and China Guodian Corporation signed last week a strategic cooperation agreement in Beijing. Under the agreement, the two sides will jointly promote the development of natural gas power generation by leveraging CNPC’s strengths in natural gas resources and Guodian’s dominant position in power industry. CNPC and China Guodian Corporation signed last week a strategic cooperation agreement in Beijing. Under the agreement, the two sides will jointly promote the development of natural gas power generation by leveraging CNPC’s strengths in natural gas resources and Guodian’s dominant position in power industry. CNPC Chairman Jiang Jiemin, and Guodian President Zhu Yongpeng had a profound discussion on further deepening cooperation and attended the signing ceremony. CNPC Vice President Li Xinhua and Guodian Vice President Mi Shuhua signed the agreement on behalf of the two sides respectively. CNPC Vice President Yu Baocai presided over the signing ceremony.

[Apr. 13, 2012] March trade data showed China’s import growth fell below expectations, indicating tepid Q1-12 demand. Concerns about a potential slowdown in the economy world’s No. 2 crude consumer China, have compounded worries about global demand. As a result, oil prices have fallen for the second consecutive day on Tuesday, suffering its biggest one-day percentage loss of the year and slumping to a seven-week low. Oil on the Nymex dropped by over a dollar to settle at US$101, the lowest close since Feb. 14. Brent crude fell by almost three dollars to US$119.8, the weakest close since Feb. 17.

[Apr. 12, 2012] The Philippines’ biggest warship, obtained from the United States last year, was locked in a standoff with Chinese vessels over fishing in the South China Sea yesterday, increasing tensions in disputed waters rich in oil and gas deposits.

[Apr. 12, 2012] Oil for May delivery rose as much as 54 cents, or 0.5 percent, to $101.56 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $101.51 at 3:05 p.m. Singapore time.

[Apr. 12, 2012] China’s annual crude oil consumption is likely to reach between 580 and 590 million tons by 2015, Mao Jiaxiang, vice president of China Petrochemical Corp.’s (Sinopec Group) Economics & Development Research Institute, said at a conference April 11.

[Apr. 12, 2012] China National Offshore Oil Corp, the country’s biggest marine oil producer, signed a production-sharing contract on Wednesday with Eni China BV for a deepwater block in the South China Sea.

[Apr. 11, 2012] Crude-oil futures prices settled at a two-month low, pressured by fresh worries over signs of slowing Chinese oil demand. The world’s second-biggest oil consumer after the US reported a drop in oil imports in March, albeit from a record-high February level.

[Apr. 10, 2012] U.S. crude oil futures closed at a seven-week low Monday, on demand concerns following some soft U.S. jobs data last week and a disappointing consumer price inflation report from China for March. The upcoming international talks with Iran over its nuclear program also had an impact on oil prices.

[Apr. 10, 2012] China would release its national development plan for refining, oil and natural gas, as well as renewable energy for 2011-2015 in the near future, said Liu Tienan, head of the National Energy Administration (NEA), at the China International Aviation Fuel Conference.

[Apr. 10, 2012] A further 41 rare earths firms have passed environmental inspections by the Ministry of Environmental Protection (MEP), increasing the total number approved by the MEP to 56, the ministry said in a statement on its website April 6.

[Apr. 10, 2012] China saw its investment in the six high energy-consuming industries grow 18.3% year on year to RMB 4.1 trillion last year, according to the latest statistics released by the National Bureau of Statistics.The growth rate was 3.7 percentage points higher than that in 2010.

[Apr. 10, 2012] China’s inflation rebounded slightly in March after logging an extremely low growth in February, backing lingering uncertainty regarding the country’s ability to contain price rises. China’s consumer price index (CPI), a main gauge of inflation, expanded 3.6 percent year-on-year in March, the National Bureau of Statistics (NBS) said Monday.

[Apr. 9, 2012] China may find itself facing tight coal, power, oil or gas supplies in some regions or at some time, even though current energy markets are basically in balance, head of the National Energy Administration said in a government meeting on Friday.

[Apr. 6, 2012] ASEAN members failed to make any headway towards a unified approach to the disputed South China Sea during the bloc’s two-day summit in Cambodia this week, with a statement from ASEAN on Wednesday simply reaffirming a commitment to implementing a declaration agreed by the group in 2002..

[Apr. 6, 2012] Oil prices and oil supply unambiguously tie China and the United States together, as both nations are heavy importers of oil. The United States imports about 65 percent of its oil and oil products, while China imports about 56 percent of its needs, which will undoubtedly increase over the next few years.

[Apr. 5, 2012] China’s GDP growth may have slowed to about 8.4 percent year-on-year in the first quarter, still boding well for the economy in 2012, said Zhang Xiaoqiang, deputy director of the National Development and Reform Commission, on Tuesday.

[Apr. 5, 2012] Oil prices and oil supply unambiguously tie China and the United States together, as both nations are heavy importers of oil. The United States imports about 65 percent of its oil and oil products, while China imports about 56 percent of its needs, which will undoubtedly increase over the next few years.

[Apr. 3, 2012] Due to the tradition of Ching Ming Festival, SZ Energy.biz will temporarily stop updating the website on April 4, 2012 .Thank you for your support to our website!AndBest wishes for you and your family!RegardSZ Energy Intelligence Co., Ltd (上海容智能

[Apr. 3, 2012] Oil advanced for a second day in New York on signs that the economy is improving in China, the world’s second-biggest consumer of crude.

[Apr. 3, 2012] China’s exploration for energy and other natural resources overseas is conducted in strict adherence to international trade rules and is good for the world because it contributes to the supply of natural resources, said Zhang Guobao, chairman of the Advisory Board of the National Energy Commission.

[Apr. 2, 2012] China National Offshore Oil Corp Ltd, the country’s biggest marine oil producer, reiterated its goal of keeping its net output at 330 million to 340 million barrels of oil equivalent this year, and having up to 30 percent of that come from overseas. CNOOC reported oil and natural gas production of 331.8 million BOE last year, which was almost unchanged from 2010.

[Apr. 2, 2012] PetroChina Company Limited (PetroChina), China’s largest oil and gas producer, reported Thursday that its net profit in 2011 declined 5 percent from a year ago. PetroChina’s net profit totaled 132.96 billion yuan ($21.13 billion) and earnings per share dropped 0.03 yuan to 0.73 yuan in 2011 according to the international financial reporting standards (IFRS), the company said in a statement filed with the Shanghai and Hong Kong stock exchanges.

[Apr. 2, 2012] China and the Association of Southeast Asian Nations should work hard to boost practical cooperation and maintain peace and stability in the South China Sea, said a joint statement due to be issued on Monday by China and Cambodia.

[Apr. 2, 2012] Sinopec Group, China’s biggest oil refiner by volume, said Thursday it has completed a deal to buy a 30-percent stake in the Brazilian assets of Galp Energia, a Portuguese energy company, at a cost of 5.16 billion U.S. dollars.

[Apr. 2, 2012] PetroChina (0857.HK) reported a 26 percent drop in quarterly earnings, lagging forecasts, due largely to hefty refining losses, and the oil major forecast slower output growth for this year.

[Apr. 2, 2012] PetroChina, Asia’s largest oil and gas company, aims to increase its oil and gas output this year by 2.8 percent from 2011, when production rose 4.7 percent to 1.29 billion barrels of oil equivalent (boe), the company said on Thursday. The forecast growth for 2012 is still strong in comparison with some global oil majors. Exxon Mobil Corp said its 2012 oil and gas output would fall 3 percent from last year.

[Apr. 2, 2012] China’s leading oil, energy and petrochemical group Sinopec posted sales of RMB 2.5 tr (EUR 280 bln) in FY 2011. Its Chemicals business - mostly consisting of olefins and polyolefins - accounting for less than 20% of total revenues to the tune of about RMB 414 bln (EUR 46 bln). Mirroring the group’s overall development, this segment managed to raise sales by 29% yoy, posting an operative result of more than RMB 25 bln (EUR 2.8 bln), which topped the 2010 figure by an impressive 71%.

[Mar. 30, 2012] PetroChina PTR reported strong revenue growth in 2011 thanks to elevated oil prices throughout the year, but government price controls took a bite out of operating earnings, which were down 4.4% from the year prior. Production for the year averaged 3.52 m

[Mar. 30, 2012] President Obama will push again for Congress to eliminate tax breaks for oil companies, in a speech Thursday at the White House Rose Garden.The president’s renewed attack on "big oil" comes as U.S. oil companies are facing the stiffest competiti

[Mar. 30, 2012] China raised gasoline prices 7% last week to $4.42 a gallon — the largest single increase in nearly three years — in a move partly aimed at suppressing the country’s expanding hunger for oil. A steady series of such adjustments, combined

[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. 16, 2012] The following table shows the 22- day moving average of the three crude benchmark grades monitored by the Chinese government for setting fuel prices. The average, assuming an equal weighting for all three grades, rose 9.6 percent as of yesterday from the

[Mar. 15, 2012]  China has been adding oil to itsemergency or commercial reserves even as prices remain near thehighest level in nine months, if the rising supply ofunprocessed crude is any guide.     The CHART OF THE DAY shows China had 2.7 mill

[Mar. 14, 2012] New York’s main contract, West Texas Intermediate crude for delivery in April, shed $US1.06 to close at $US106.34 a barrel.Brent North Sea crude for April settled at $US125.34 a barrel in London trade, down 64 US cents from Friday’s closing level."Cr

[Mar. 9, 2012] Commentary: South China as a whole picture went down moderately on Thursday. Trucking prices in South China moved down to a range of Yuan 7,600-8,800/mt Thursday. Shenzhen market remained stable at a range of Yuan 8,600-8,800/mt. In Zhuhai market, th

[Mar. 9, 2012] The US President, Mr Barack Obama, has warned that growing energy demands in populous and emerging economies such as India, China and Brazil would be responsible for the increase in global oil prices in the long term

[Mar. 8, 2012] Commentary: In South China, Guangzhou Petrochemical rebounded beyond the market expectation when all the players didn’t know where the market would go. The whole market went up slightly.

[Mar. 8, 2012] Royal Dutch Shell will purchase shares in a liquefied natural gas project in China’s Zhejiang province, according to a source familiar with the matter. "We are very interested to explore new business opportunities in China, including Zhoushan.

[Mar. 8, 2012]  China Petroleum & Chemical Corp. (0386.HK), better known as Sinopec, and gas supplier ENN Energy Holdings Ltd. (2688.HK) said Wednesday China’s Ministry of Commerce is reviewing their joint application to buy China Gas Holdings Ltd.

[Mar. 8, 2012] The realization that oil prices aren’t about them anymore has been slow to dawn on Americans after a century of being the world’s swing consumers.

[Mar. 8, 2012]

[Mar. 8, 2012] Front-month Brent was up 88 cents to $122.86 a barrel by 09:45 pm, after settling $1.82 lower at $121.98 in the previous session.

[Mar. 8, 2012] Following the sanctions placed on Iran by the EU and US with the aim of curtailing its oil exports, analysts are worried about an undersupply of oil.

[Mar. 7, 2012] Commentary: South China as a whole picture, held mixture when major refineries sold flat amid insufficient supplying taken into by terminals. Trucking prices in South China moved down to a range of Yuan 7,750-8,800/mt Tuesday.

[Mar. 7, 2012]

[Mar. 7, 2012] China’s plan to reform energy use and resource pricing has positive implications for the country’s centrally owned electricity grid and nuclear power companies.

[Mar. 7, 2012] The plant in central Henan province has nameplate refining capacity of 200,000-barrel-per-day (bpd), but actual production capability is lower due to factors including crude transportation bottlenecks.

[Mar. 7, 2012] China is gathering oil and gas assets across the U.S., The Wall Street Journal reports today. State-run giants Cnooc and Sinopec are scooping up minority stakes and signing joint-ventures, to the tune of $17 billion in U.S. and Canadian deals since 2010,

[Mar. 7, 2012] Crude oil futures prices settled 1.9% lower Tuesday on fresh worries over a potential slowdown in global oil demand. A day after Chinese Premier Wen Jiabao said the government was targeting 7.5% growth this year compared with 8% growth targets for each of

[Mar. 7, 2012] Sinopec’s global ambitions face a test on its home turf in China amid opposition to the energy company’s proposed $2.15 billion takeover of China Gas, one of the country’s biggest natural-gas companies..

[Mar. 7, 2012]

[Mar. 6, 2012] In the past 12 months, Sinopec, the big Chinese energy company, has embarked on a US$10 billion global spending spree, buying up assets from Brazil to Canada. But a largely unnoticed deal on its home turf is proving to be the toughest test yet for its glo

[Mar. 6, 2012] Chinese state-owned oil companies are facing unprecedented challenges in their drive for overseas expansion and need to ramp up mergers and acquisitions activity rather than rely on buying foreign oil concessions, China Daily reported Tuesday, citing a se

[Mar. 6, 2012] PetroChina will not buy extra Russian crude oil via the Russia-China pipeline, the company chief said Monday, after the two sides recently resolved a price dispute. Jiang Jiemin, chairman of PetroChina, also said China and Russia still differed on pr

[Mar. 6, 2012] Beijing China’s top two state oil firms have agreed to lift a total of about 140,000 barrels per day (bpd) of crude oil from Libya, an Opec member, under term deals for 2012, set to raise China’s crude purchases from the Libya after supply disruptions las

[Mar. 6, 2012] Russia, the world’s top crude producer, rejected a Chinese request for more Siberian pipeline oil, saying the link is already pumping at full capacity and additional volumes are not available, two Russian state industry sources told Reuters.Russia started

[Mar. 6, 2012] U.S. light crude oil futures fell more than $1 per barrel on Monday on demand worries after China said its economic growth was moderating. U.S crude futures for April fell $1.20 to a low of $105.50 per barrel by 0959 GMT. China cut its 2012 growth target

[Mar. 6, 2012] China depends on oil imports for nearly 60% of its consumption and on natural gas imports for 15% of its overall use. According to Peng Qiming, China’s oil and gas output is expected to rise to 360 million tonnes of oil equivalent by 2015 and 450 million

[Mar. 6, 2012] China cut its 2012 growth target to an eight-year low of 7.5 percent, lowering its long-standing annual goal of 8 percent, causing a fall in Asian shares and raising questions over oil demand.Brent crude oil futures for April fell 99 cents to a low of $12

[Mar. 6, 2012] The U.S. and European governments have put pressure on Iranian financial organizations to make it more difficult for Tehran to deal in crude oil.Japan and South Korea have said they were looking at alternative suppliers to offset Iranian crude imports. Bu

[Mar. 6, 2012] The report, issued by the National Development and Reform Commission (NDRC), also said growth in total electricity output was expected to slow from double-digit rates to 7.5 percent this year to hit 5.05 trillion kilowatt hours.The forecast growth in powe

[Mar. 6, 2012] Oil prices rose in tug-of-war trading as supply risks and tensions over Iran’s nuclear program provided support, but concerns about economic growth in China and the United States limited gains.The potential for supply disruptions due to Iran’s row with th

[Mar. 5, 2012] Sanctions imposed on Iran won’t influence China’s oil imports from the country, the nation’s former energy head said.“China’s crude import costs may be pushed up by tension in Iran as oil prices could rise on supply concern,&

[Mar. 5, 2012] China’s raw coal output is expected to rise 3.7 percent from a year ago to 3.65 billion tonnes, slowing sharply from a year ago, while crude oil production by the world’s No. 2 consumer is forecast unchanged at 204 million tonnes in 2012, the government s

[Mar. 5, 2012] China said on Friday it had reached a consensus with Russia over a dispute on the pricing of Russian crude oil it receives via a pipeline."Both sides have reached a consensus on the trade price issue for the China-Russia crude oil pipeline under the

[Mar. 5, 2012] Sinopec’s and PetroChina’s petrol stations in Nanjing city in east China are replacing their gasoline with GB (national standard)-IV products, before officially supplying GB-IV gasoline from 1 April, sources with PetroChina and Sinopec said.Petrol station

[Mar. 2, 2012] China’s top two state oil firms have agreed to lift a total of about 140,000 barrels of crude oil per day from Libya under term deals for 2012, set to raise China’s crude purchases from the North African exporter after supply disruptions last year.State t

[Mar. 2, 2012] Chinese quarantine authorities will allow imports of Canadian canola by some selected crushers located in major growing areas, previously banned because of fungal disease concerns, traders said on Thursday.The import relaxation, likely to be cleared in th

[Mar. 2, 2012] The White House has argued that there is little it can do to halt the trend with external factors like growth in China, India, and other emerging economies pushing up the prices.WASHINGTON- Amid a national spike in gas prices, the White House has once aga

[Mar. 2, 2012] PetroChina Co.’s fuel-oil subsidiary plans to import 16 million metric tons of crude oil and process 4 million tons this year, parent China National Petroleum Corp. said in its online newsletter today.

[Mar. 2, 2012] Northwest China Grid Corp. (Northwest Power Grid), a subsidiary of the country’s largest grid operator State Grid Corp. of China, will expand sales of surplus power to eastern and southern China through 2015, the company said on March 1.

[Mar. 1, 2012] Venezuela-China financial relationship adds up USD 38 billion, including the agreements on the Chinese Fund (Big Volume Fund and Heavy Fund) and the loans extended to state-run Petróleos de Venezuela (Pdvsa) or joint ventures where the Venezuelan o

[Mar. 1, 2012]  China’s Unipec has agreed to lift about 100,000 barrels of crude oil per day from Libya under a term contract for 2012, set to raise China’s crude purchases from the North African exporter after supply disruptions last year.The volume agreed between

[Mar. 1, 2012] China will introduce energy and resource pricing reforms this year aimed at bolstering the market’s role in promoting energy efficiency and conservation, state-run Xinhua news agency reported on Wednesday, citing remarks made by a top pricing official.

[Feb. 29, 2012] Russian state-controlled oil company Rosneft made a small price concession to China, the single biggest consumer of oil from its new eastern fields, to resolve a long-running dispute, a Russian industry source said on Tuesday. China buys 300,000 barrels p

[Feb. 29, 2012] In 2011, China’s new proven geological reserves of oil and gas increased significantly, with the increasing rates of oil, gas and coal bed gas all exceeding 20 percent. According to the statistics of the Mineral Resources Reserves Report, China’s new prov

[Feb. 29, 2012] A Great Wall in energy relations between China and Russia seems to be crumbling. Kommersant says, Rosneft, oil pipeline monopoly Transneft and China National Petroleum Corporation (CNPC) have settled a year long dispute over oil supplies to China. Ro

[Feb. 29, 2012] China will reform its energy and resource pricing system this year, but will time it to minimize impacts on consumer prices, the country’s price regulator said Tuesday.  The move is aimed at letting the market play a role in helping users be more eco

[Feb. 29, 2012] China aims to cut its energy consumption per unit of industrial value-added output by 21% during the 12th Five-Year Plan period (2011-2015), the Ministry of Industry and Information Technology said Monday, according to a report from official news agency X

[Feb. 29, 2012] China aims to cut its energy consumption per unit of industrial value-added output by 21% during the 12th Five-Year Plan period (2011-2015), the Ministry of Industry and Information Technology said Monday, according to a report from official news agency X

[Feb. 29, 2012] Russia stands to lose $3 billion in revenue from oil supplies to China in just under 20 years.Rosneft (RTS: ROSN) and Transneft (RTS: TRNF) are amending long-term supply deals with China, reached last year and envisaging discounts on crude oil, via their

[Feb. 28, 2012] China has helped Iran dodge tightening sanctions this year by regularly selling it much-needed gasoline, shipping and trade sources said, but rising tensions could force even some Chinese companies to stop, at least temporarily. China is the biggest

[Feb. 28, 2012] China started buying higher-sulfur crude to fill its emergency oil-storage reserve, China Business Journal reported on Feb. 25, citing people involved in the purchase that it didn’t name.All the tanks in the second phase of China’s emergency s

[Feb. 28, 2012] By means of cooperation agreements, Venezuela and the People’s Republic of China hope that the crude oil output of joint venture Petrosinovensa in 2014 will strike 330,000 barrels per day (bpd), state-run news agency AVN reported.Rafael Ramírez, th

[Feb. 28, 2012] China is calling for energy-intensive industries such as steel and textile manufacturing to reduce their energy consumption more sharply compared with targets set last year, in a move intended to help cull obsolete capacity to contribute to efforts to red

[Feb. 28, 2012] China’s State Council announced last week that it has approved the 12th Five-Year Plan for Further Promoting the Economy of the Western Regions (“the Plan”), a step that is aimed at narrowing the gap between the country’s wealthy c

[Feb. 28, 2012] China’s power consumption is expected to grow roughly 8.8 percent annually through the 12th Five-Year Plan (FYP) period (2011-2015), reaching between 6,020 and 6,610 terawatt hours (TWh) by 2015, the semi-official China Electricity Council (CEC) forecast

[Feb. 28, 2012] Russia and China has settled the oil conflict which lasted more than a year. Both parties agreed on the changes in the contract. Now Russian companies Rosneft and Transneft will provide China National Petroleum Corporation (CNPC) a discount of 1.5 dollar

[Feb. 27, 2012] China’s oil-product stockpiles increased last month as demand weakened during the Chinese New Year holiday, according to the country’s top economic planner.Inventories of refined products at the end of January were 2.45 million metric tons hig

[Feb. 27, 2012] China’s crude oil output slid 2.3 percent year-on-year in January to 17.08 million tonnes as the New Year holiday reduced workdays, the country’s top economic planner said.The country’s imports of crude oil reached 22.85 million tonnes last month, nearly

[Feb. 27, 2012] Venezuelan President Hugo Chavez signed a series of accords with China’s Citic Group Friday which included plans for both parties to work together on building offshore oilfield platforms and develop a gold mine formerly operated by a Canadian mining compa

[Feb. 27, 2012] Engineers from Norfolk have used their machining expertise to make vital parts for an oil rig in the South China Sea – just seven days before the rig was due to start working. Mussett Engineering, of Loddon, was asked to undertake urgent work t

[Feb. 27, 2012] China discovers more Crude Oil reserves in Y 2011 China discovered 1.37-B tons of Crude Oil reserves last year, + 20.6% from a year earlier, the Ministry of Land and Resources said Thursday. It is the 9th yr for the Country to see new Crude Oil

[Feb. 27, 2012] Crude oil exports from Kuwait to China almost doubled in January this year compared with 2011, according to official data. Some 928,000 tonnes of crude oil, the equivalent of around 219,000 barrels per day (bpd), was exported to the country last mont

[Feb. 27, 2012] Chinese refineries processed 36.2 million tonnes of crude oil in January, or 8.52 million barrels per day (bpd), 1.9 percent more than a year earlier, the National Development and Reform Commission said on Friday.The daily throughput was about 8 percent l

[Feb. 27, 2012] After blistering economic growth over the past decades, China has become the world’s largest energy consumer and second-largest oil consumer. In the World Economic Forum held in Davos, Switzerland in January, Caixin talks to Chief Economist of Fatih

[Feb. 24, 2012] China’s energy use rose at the fastest pace in four years in 2011 while efficiency improved, according to the National Bureau of Statistics.Consumption climbed 7 percent to 3.48 billion metric tons of standard coal equivalent, a report on the bureau’s website showed on Wednesday. That was the fastest rate since 2007, when it grew 7.8 percent, according to data compiled by Bloomberg.

[Feb. 23, 2012] China imported 2.08 million mt (around 492,000 b/d) of crude oil from Iran in January, down 5% year on year, and down 14.3% from the 2.43 million mt imported in December, data released Wednesday by China Customs Statistics showed.Imports from Iran fell ev

[Feb. 23, 2012] China’s energy consumption totalled 3.48 billion tonnes of standard coal last year, 7 percent more than a year earlier, the National Bureau of Statistics said on Wednesday, citing preliminary calculations.Coal consumption increased 9.7 percent from a year

[Feb. 23, 2012] China’s energy use rose at the fastest pace in four years in 2011 and efficiency improved, according to the National Bureau of Statistics. Consumption climbed 7 percent to 3.48 billion metric tons of standard coal equivalent, a report on the bureau&

[Feb. 23, 2012] South Sudan has expelled the Chinese head of the country’s largest oil firm on charges of colluding with former civil war foe Sudan to "steal" millions of barrels of its oil.Liu Yingcai was asked to leave the world’s newest nation.Minister of In

[Feb. 23, 2012] The International Energy Agency (IEA) says China has bought an additional 200,000 barrels per day of Iran’s oil in recent months. Didier Houssin, IEA director of energy markets and security, said on Tuesday that Beijing is the world’s second-bi

[Feb. 22, 2012] China bought an additional 200,000 barrels a day of oil from Iran in “recent months”, with their thirst for crude set to rise further, the International Energy Agency is reported as saying. This comes despite Western efforts to hurt Tehran&rsq

[Feb. 22, 2012] China, the biggest buyer of Iranian crude, cut purchases to the lowest level in five months in January even as its total oil imports rose after trading companies in the two nations failed to renew supply contracts.Imports from Iran fell to 2.08 million me

[Feb. 22, 2012] China National Petroleum Corp (CNPC), the country’s largest oil and gas producer, is planning a logistics hub in Dubai to minimise possible disruptions from geopolitical risks in the Middle East and North Africa, the China Daily reported on Tuesday.CNPC,

[Feb. 22, 2012] The rising price of crude oil, pushed up by the latest Iran oil ban, has made it more difficult for China to build its oil reserves, analysts said.Benchmark March crude oil hit a nine-month high of 105.26 U.S. dollars per barrel on the New York Mercantile

[Feb. 22, 2012] South Sudan has expelled the head of Chinese-Malaysian oil consortium Petrodar, the main oil firm operating in the new African nation, a top southern official said on Tuesday, escalating a row between Juba and Chinese oil firms.South Sudan has repeatedly

[Feb. 22, 2012] China, India and Japan are planning cuts of at least 10 percent in Iranian crude imports as tightening U.S. sanctions make it difficult for the top Asian buyers to keep doing business with the OPEC producer.The countries together buy about 45 percent of I

[Feb. 22, 2012] U.S. crude edged down on Wednesday after closing at the highest in nine months on support from tighter supplies as buyers of Iranian oil in Asia and Europe cut their purchases from Tehran on Western sanctions.Commodities rallied on Tuesday after a 130 bil

[Feb. 21, 2012] The SET-listed Siamgas and Petrochemicals Plc (SGP) has set a target to grow its revenue by more than 30% this year to 50 billion baht with an aggressive expansion in Asia.SGP, the second-biggest distributor of liquefied petroleum gas (LPG) domestically,

[Feb. 21, 2012] One of China’s two major buyers of Iranian crude has reduced the amount it will take this year although by how much was unclear, trade sources said on Monday, after expectations that China would be the buyer of last resort for Iranian crude displaced by s

[Feb. 20, 2012] China raised the resource tax rates on iron ore, tin ore, molybdenum ore, magnesite, talc, and boron, with the tax rate on iron ore raised from 60 percent to 80 percent, reports Shanghai Securities News, citing the Ministry of Finance.Following the adjust

[Feb. 20, 2012] Oilsands producer Cenovus Energy Inc. has sent its first shipment of crude oil to China, beating the opening of the controversial Northern Gateway pipeline by about five years.President and chief executive Brian Ferguson revealed Wednesday in an interview

[Feb. 20, 2012] The National Iranian Oil Company (NIOC) has reached an agreement with the International United Petroleum and Chemical Corporation (UNIPEC) to increase oil exports to China to 500,000 barrels per day (bpd). The agreement with UNIPEC, indicates that a

[Feb. 17, 2012] PetroChina Co.’s Jilin province unit aims to boost oil and gas output to 7.8 million metric tons in 2012, according to a statement posted on the website of group parent China National Petroleum Corp.The provincial unit reiterated its goal of increas

[Feb. 17, 2012] A senior official of the Iranian oil ministry has announced that disputes between Iran and China regarding oil purchase have been removed, Mehr news agency reported Thursday.The news agency quoting the official who was not named in the report says China w

[Feb. 17, 2012] China is seeking to increase crude oil imports from Russia above the 300,000 b/d it receives via the East Siberia-Pacific Ocean pipeline, but Moscow has no plans "so far" to boost its flows of the blend to its neighbor, an official with Russia’s

[Feb. 17, 2012] National Iranian Oil Co. has reached an agreement in principle with China International United Petroleum & Chemical Corp., known as Unipec, for a long-term supply contract to supply crude oil and condensate in 2012, a person familiar with Iran’s oil s

[Feb. 16, 2012]  U.S officials are cautiously watching Cuba as it commences commercial oil drilling efforts in the Gulf of Mexico.  Cuban oil exploration efforts are guided by China, which due to its growing energy demands, has made significant contributions su

[Feb. 16, 2012] Yahoo News Mark Whittington:  “President Barack Obama has suffered the second embarrassment over oil imports within the space of a week. Brazil, whose offshore deposits of oil were sought by the Obama administration, has signed contracts with C

[Feb. 16, 2012] The last time the Obama Administration wanted new sanctions on Iran, in 2010, Beijing started out loudly opposed, threatening to block the sanctions at the U.N., something Beijing had never before seriously threatened.Overwhelmingly, observers at that tim

[Feb. 16, 2012] The recent strength in China’s oil imports may be aboutto fade thanks to an 18% gain in Brent crude prices since October.China’s crude imports have shown resilience in the face of slowing economic growth in the world’s second biggest oil

[Feb. 16, 2012] China’s oil apparent consumption surged 4.5 percent year-on-year to 470 million tons in 2011, while consumption of crude oil is estimated to have increased 3.4 percent, reaching 454 million tons, according to a 2011 oil and gas industry development report

[Feb. 16, 2012] Chinese economic growth continued to slow down to the fourth quarter dropped to below 9%, the current first quarter is expected to continue to decline. However, the 2012 China’s crude oil imports has hit a new high as 23.41 million tons, an increase

[Feb. 16, 2012] Beijing is in talks with Moscow to increase oil imports from Russia by purchasing all 30 million tons shipped on the Eastern Siberia Pacific Ocean (ESPO) pipeline operated by oil pipeline monopoly Transneft, Moscow News daily reported on Wednesday, citing

[Feb. 16, 2012] Oilsands producer Cenovus Energy Inc. has reported sending its first shipment of crude oil to China last week.In an interview with the Calgary Herald after releasing fourth quarter 2011 financial results, president and chief executive Brian Ferguson confi

[Feb. 15, 2012] Sinopec and PetroChina are expected to sell a combined 3.1m tonnes of gasoline and gasoil in east China’s Jiangsu, Zhejiang and Shanghai in February, down by 60,000 tonnes or 1.9% from January, company sources said.The month-on-month drop was mainly

[Feb. 15, 2012] China imported 23.41 million metric tons of crude oil, equivalent to 5.51 million barrels per day, in January 2012, 7.39% more than that of January 2011, according to statistics released by the General Administration of Customs.The crude oil imports for&n

[Feb. 14, 2012] China’s National Development and Reform Commission (NDRC) has announced that it will approve seven overseas investment projects for the country’s three large oil companies.Emerging Money highlighted China National Offshore Oil Corporation, bet

[Feb. 14, 2012] Thus far, Beijing has found little wiggle room to resist the U.S.-E.U.-Saudi common vision that severe sanctions be used to shut down the bulk of Iran’s oil exports by June.The reality being revealed in this confrontation is that China has much less

[Feb. 14, 2012] The nation of South Sudan has shut down its oil output, estimated at around 350,000 barrels per day (bpd), as it and its neighbor Sudan struggle to disentangle their oil industries, borders and debt. Before the shutdown, China imported most of their outpu

[Feb. 14, 2012] The China National Petroleum Corp. (CNPC) and the Cameroon government have agreed that the Chinese firm will ship its crude from Chad through Cameroon by the end of 2012, a top Cameroonian official involved in the talks told Dow Jones Newswires Monday.&qu

[Feb. 13, 2012]  Okanagan cherries are one step closer to being on the shelves of luxury food markets in cities like Beijing and Shanghai, as co-operative efforts between the governments of British Columbia and Canada continue to make progress in accessing the Chine

[Feb. 13, 2012] Last November, shortly after Parliament had passed 11 resolutions following a heated special session on the oil sector on October 10 and 11, 2011, President Museveni received an influential visitor from China:  the minister of National Defence and St

[Feb. 13, 2012] China imports 11 percent of its oil from Iran, so the latest American and European move to isolate Iran has put Beijing in a quandary. Should China join the West with which it has close economic ties, or ignore the call for sanctions on Iran, not backed b

[Feb. 13, 2012] Canada wants to sell more oil to China but won’t shy away from raising the issue of human rights as economic ties between the two strengthen, the Canadian prime minister said on Friday.Stephen Harper said Canada has “abundant supplies of virtu

[Feb. 13, 2012] Oil supply is looking increasingly comfortable this year after a series of downgrades to demand forecasts. But don’t get too excited about lower oil prices just yet. First, it’s worth taking a look at the oil slurping elephant that China has j

[Feb. 10, 2012] China’s consumption of fossil fuels declined slightly in 2011, but the world’s largest energy consumer still faces great challenges in optimizing its energy structure, said analysts.Non-fossil fuels accounted for 9.4 percent of China’s overall primary ene

[Feb. 10, 2012] China’s diesel shortage this year may reach 3 million metric tons if military conflict in Iran and Syria pushes crude costs to $200 a barrel, according to China National Petroleum Corp., the nation’s biggest energy producer.That’s more t

[Feb. 10, 2012]  Just as he promised he would do if the United States rejected the Keystone XL pipeline, Prime Minister Stephen Harper headed to Beijing earlier this week on a four-day trade mission in which he is expected to seek a deal to sell millions of barrels

[Feb. 10, 2012] China’s Sinochem Corp aims to nearly quadruple its overseas oil and gas output to 300,000 barrels oil equivalent per day by 2020, building three production hubs in Colombia, Brazil and the Middle East, company sources said.The plan will require billions o

[Feb. 10, 2012] French oil giant Total SA has agreed to sell Colombian oil production and pipeline unit Tepma BV to China’s Sinochem Corp., taking the value of Total’s sales in the country to $1 billion since July last year.The deal continues a spate of acquisitions in t

[Feb. 10, 2012] Venezula plans to send as much oil to China as it does to its traditionally largest buyer, the U.S., within the next three years, Oil Minister Rafael Ramirez said Thursday.The South American country also continued reaping the benefits of high global oil p

[Feb. 10, 2012] Prime Minister Stephen Harper’s love affair with China has paid off. On Wednesday he announced during a Canadian trade mission to the Middle Kingdom that more than 20 commercial agreements valued at close to $3 billion (and involving dozens of Canad

[Feb. 10, 2012] China’s implied oil demand is likely to grow by a less-than-average 5 percent this year to 9.9 million barrels per day, an industry research group said on Thursday, as a slowdown in economic growth caps fuel consumption.China is the world’s se

[Feb. 9, 2012] China Petrochemical Corp., the parent of China Petroleum & Chemical Corp or Sinopec (SNP), has intentions of completing restructuring activities related to its downstream engineering division by mid-2012, as per market sources. The restructuring plans

[Feb. 9, 2012] China’s implied oil demand will likely rise 5 percent this year to 9.9 million barrels per day, according to an industry research report, a pace slower than 2011, as easing economic expansion caps fuel consumption in the world’s No.2 user.National crude t

[Feb. 9, 2012] Canadian Prime Minister, Stephen Harper, is currently on a visit to China in order to boost cooperation in many key areas between the two countries. The first step towards this goal was made on Tuesday when an agreement was signed between himself and his

[Feb. 9, 2012] The United Arab Emirates’ main exporter of crude oil will fulfill all supply contracts to Asia for March, for the first time in almost a year, to help the region’s top buyers cut their dependence on oil from sanctions-hit Iran. Asia consumes m

[Feb. 9, 2012] IntroductionAs global demand for energy continues to rise, major players like the United States, the European Union, and Japan are facing a new competitor in the race to secure long-term energy supplies: China. The economic powerhouse has increasingly foc

[Feb. 8, 2012] China will raise the ceiling for retail prices of gasoline and diesel by 3 to 4 percent from Wednesday, the first hike in 10 months and a move that lifts prices to record highs and can help refineries improve margins.The increase, at 300 yuan per tonne or

[Feb. 8, 2012] China raised the ceiling for retail gasoline and diesel prices for the first time this year on Wednesday in tandem with international crude oil hikes.Average fuel prices increased as much as 3.65 percent, with gasoline and diesel rising by 300 yuan ($47.5

[Feb. 8, 2012] China is scouring the world for alternative oil supplies to replace a fall in its imports from Iran, as it seeks to negotiate lower prices from Tehran, and has been drawing heavily on Saudi Arabia.Industry sources told Reuters that Beijing had bought the

[Feb. 8, 2012] ..Reuters is out with a report that China is buying up oil from Saudi Arabia and other sources to reduce the amount it depends on Iran as it negotiates prices with Tehran. Reuters’ Judy Hua and Alex Lawler report:Industry sources told Reuters that Beijing

[Feb. 8, 2012] China will halve its crude oil imports from Iran in March compared to average monthly purchases a year ago, as a dispute over payments and prices stretches into a third month, oil industry sources involved in the deals said on Monday.China is the top buye

[Feb. 8, 2012] The Canadian Prime Minister, Stephen Harper, is visiting China for talks that will focus on oil sales, energy and other economic ties.The four-day visit emphasises efforts by Canada to diversify energy sales as nearly all of its oil exports currently go t

[Feb. 8, 2012] China raised the ceilingfor retail prices of gasoline and diesel by 3 to 4 percent fromWednesday, the first hike in 10 months and a move that liftsprices back to record highs, helping refineries improve margins.        The go

[Feb. 8, 2012]  China National Petroleum Corp said Tuesday that its subsidiary in Iraq produced 2.603 million mt (615,483 b/d) of crude oil in January, which was 122.6% of its output target, according to a company newsletter.In addition, crude oil output from the R

[Feb. 8, 2012] Sovereign wealth fund China Investment Corp (CIC) and state refiner Sinopec are among the three cornerstone investors to pledge US$350-million toward Canadian oil explorer Sunshine Oilsands Ltd’s Hong Kong IPO, a source with direct knowledge of the

[Feb. 8, 2012] China on Tuesday raised its ceilings on gasoline and diesel prices in response to rising prices in international markets.The move, disclosed on Tuesday by China’s top economic planning body, comes as Beijing continues to balance its efforts to protect con

[Feb. 8, 2012] China is scouring the world for alternative oil supplies to replace a fall in its imports from Iran, as it seeks to negotiate lower prices from Tehran, and has been drawing heavily on Saudi Arabia.Industry sources told Reuters that Beijing had bought the

[Feb. 7, 2012]  China Petrochemical Corp (Sinopec Group), parent of top Asian refiner China Petroleum & Chemical Corp (Sinopec) , will complete restructuring of its engineering business by about mid-year before listing the new vehicle via a public stock offerin

[Feb. 7, 2012] China’s net crude-oil imports may grow at the smallest pace in at least six years in 2012 as the world’s second-biggest economy slows, estimates released by state-owned China National Petroleum Corp. show. The nation may buy from overseas 266

[Feb. 7, 2012] Selling Chinese politicians on Richmond Hill business opportunities and Canadian oil are agenda items for local MP Costas Menegakis when he flies to China today.The rookie Conservative MP will accompany Prime Minister Stephen Harper, five ministers and fo

[Feb. 7, 2012] China will halve its crude oil imports from Iran in March compared to average monthly purchases a year ago, as a dispute over payments and prices stretches into a third month, oil industry sources involved in the deals said on Monday.China is the top buye

[Feb. 6, 2012] Crude-oil shipments aboard supertankers bound for China rose 10 percent this week, according to ship-tracking data compiled by Bloomberg.Vessels with a total carrying capacity of 15.7 million deadweight tons are heading for the Asian nation, up from 14.2