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Nations get together to seek energy
The world's heavyweight energy producers and consumers are increasing international co-operation to address growing demands for energy, with several cross-border projects involving China, India and Russia being possible.
Sinopec to build oil facility in Hebei
Sinopec, China's biggest oil refiner, said it planned to build two crude oil importing facilities in North China's Tangshan, involving a total investment of 6 billion yuan (US$739.8 million).
Chinese regional oil groups unlikely to appear
The recent establishment of the nation's fourth largest oil company in West China does not indicate the government wants to have similar oil groups in other regions, said a senior official from the Ministry of Commerce (MOFCOM).
PetroChina to pay US$2.5b for overseas asset
Shareholders of the nation's largest oil and gas producer PetroChina have agreed to pay 20.7 billion yuan (US$2.5 billion) for half the overseas assets of its State-owned parent, the oil major told the Hong Kong Stock Exchange in a statement.
China's oil firms team up to supply jet fuel
China's two largest oil producers will team up with the country's top aviation oil dealer to establish a new shareholding aviation oil company to introduce more competition into China's jet fuel market.
Strong RMB to have mixed effect on oil
A recent appreciation of the Chinese yuan will have mixed effects upon China's oil industry, but the impact is limited as the change remains only a moderate 2 per cent, said economists and industry experts.
China's CNOOC defends bid for Unocal
China's CNOOC Ltd. said on Saturday its request to the U.S. government to review its plan to merge with oil and gas producer Unocal Corp. was voluntary and aimed at clearing up doubts about the deal.
China to fill strategic oil reserve
China will start to fill its strategic oil reserve in the fourth quarter of this year with its own oil, according to sources with the administration of one of the reserve bases on Friday.
First private oil group set up amid disputes in China
China's first private petroleum group, the Great United Petroleum Holding Co., Ltd (GUPC), announced its establishment Wednesday at the Great Hall of the People, a symbolic site of the People's Republic of China.
Unocal to vote on China National Offshore Oil Company takeover bid Aug.10
Oil exploration firm Unocal said its shareholders would meet August 10 to decide on takeover offers from US rival Chevron and China National Offshore Oil Company (CNOOC).
China to fill petroleum reserve this year
China will start filling its first strategic petroleum reserve this year, China Central Television (CCTV) said Thursday amid efforts to ensure energy supplies for the country's booming economy.
China looking west for energy supply
"More importantly, Xinjiang is far from the major oil markets on the east coast. High transportation costs will largely erode the profit margins of oil companies," the engineer who did not want to be named said yesterday in Beijing.
New energy laws must be 'prudent'
Government officials and industry experts are warning policy-makers to be prudent in balancing the interests of different groups within the economy, as laws on renewable energy are introduced.
Xinjiang plans to be China's top oil producer
URUMQI: Xinjiang Uygur Auto-nomous Region plans to overtake Northeast China's Daqing to become the country's largest oil production area in the next few years, said a top local government official yesterday.
Chinese oil demand growth slows again - International Energy Agency
China's rapid oil demand growth turned negative in April as Chinese refiners ran down stocks and cut petroleum product imports, the International Energy Agency said on Friday.
PetroChina invests in overseas venture
To boost stagnant domestic reserves and forge a platform for overseas expansion, PetroChina, China's largest oil and gas company, has agreed to pay 20.7 billion yuan (US$2.5 billion) for overseas assets in its State-owned parent.
China to have strategic oil reserve soon
SINGAPORE - China is on track to complete building its first strategic oil reserve storage tanks by August, but Beijing has not indicated when it may start filling them in the face of high oil prices, an industry official said on Friday.
Sinopec buys into Canadian oil sands
China Petrochemical Corp, the parent company of Sinopec, and a Canadian company yesterday announced the refiner will pay 105 million Canadian dollars (US$84 million) for a stake in Canada's Northern Lights oil sands project.
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