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China should boost oil reserves, Xi says

The mainland should boost its strategic oil reserves and push ahead with energy price reforms, President Xi Jinping said yesterday. The measures were necessary to safeguard the nations energy security, Xi told a meeting of the Leading Group......【More】

2015-02-13

CNOOC Signs PSCs With SK

CNOOC Limited announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed two production sharing contracts (PSCs) with SK Innovation Co., Ltd. (SK) for Blocks 04/20 and 17/03 in the South China Sea.......【More】

2015-02-12

China raises retail oil prices

Chinas top economic planner on Monday announced the retail price of gasoline would be raised by 290 yuan (47.3 U.S. dollars) per tonne and diesel by 280 yuan per tonne, snapping the trend of 13 consecutive cuts since July. The adjustment th......【More】

2015-02-11

Wartsila to power first CNG carrier

Finland-based power provider Wartsila will provide an integrated propulsion system for the compressed natural gas (CNG) carrier being built for Indonesian state-owned energy company Perusahaan Listrik Negara (PLN). The 110m-long, 2,200m2 ca......【More】

2015-02-10

Chongqing unveils huge shale investment

Southwestern Chinas Chongqing municipal government announced on Tuesday that it will build 30 billion cubic meters of shale gas production capacity by 2020 with an annual output of 20 billion cu m. The local government said a total investme......【More】

2015-02-09

CNOOC, CPC eye Taiwan Strait’s deepwater

State oil companies China National Offshore Oil Corp. (CNOOC) and Taiwans CPC Corp. plan to drill a well in deep waters off the islands southwest coast, at a block in the Taiwan Strait they are jointly developing under a production sharing......【More】

2015-02-06

China-Myanmar crude oil pipeline on test run

China-Myanmar crude oil pipeline (Myanmar section) was launched for a trial run on 28 January after the project was completed through five years of efforts by the two sides, according to Xinhua News reports. The starting point of the crude......【More】

2015-02-05

Oil pipeline connects Kunming to Andaman Sea

A 771-kilometer long oil pipeline linking refineries in Kunming to oil fields off the western coast of Myanmar began shipments over the weekend. Built over six years, at a cost of 9.37 billion yuan (US$1.5 billion), the project was marred b......【More】

2015-02-04

Oil drops as Saudis resist calls for output cuts

Oil fell as Saudi Arabia, the worlds biggest exporter, signaled it wont act to balance the market while forecasts for US crude inventories to rise bolstered speculation that a global glut will persist. Futures dropped as much as 2 percent i......【More】

2015-02-03

Myanmar-China crude oil pipeline begins trial operations

The Myanmar-China oil pipeline has been officially inaugurated in a ceremony involving government and business representative from China and Myanmar. Trial operations were launched at a ceremony yesterday in Yangon attended by U Nyan Tun, M......【More】

2015-02-02