Industry News|cippe Zhenwei Shanghai Petrochemical Show|ZHENWEI EXPO

IEA Adjusts Measure of China's Oil Demand

runs, but putting products into storage, consumption would be overestimated under the old model. Conversely if China reduced refinery runs, but drew down product stocks, the old IEA model would underestimate demand. In its new methodology t......【More】

2013-03-07

China Plans to Raise Standards Won't Affect the Probability

Chinas plan to increase fuel standards for diesel and gasoline wont affect Cnooc Ltd.s (CEO) profitability as better oil products will lead to higher prices, Cnooc Chairman Wang Yilin said Tuesday. The head of Chinas largest offshore oil pr......【More】

2013-03-06

CNPC to Spend RM7.5b on Upgrades for Cleaner Fuel

China National Petroleum Corp (CNPC), the nations biggest energy company, will spend 15 billion yuan (RM7.49 billion) to upgrade the quality of fuel it refines, general manager Zhou Jiping said. The money would allow CNPC to upgrade the sta......【More】

2013-03-06

China's CNOOC Agrees to Alter Nexen's U.S. Oil Lease - Reports

Chinese oil giant CNOOC Ltd has agreed to changes its oil-drilling leases in the Gulf of Mexico to quell U.S. national security concerns as a condition for U.S. approval of its $15 billion buyout of Canadas Nexen Inc. The most significant t......【More】

2013-03-05

China's Biggest Oil Company to Produce Cleaner Fuel

China National Petroleum Corp, the nations biggest energy company, will spend 15 billion yuan to upgrade the quality of fuel it refines, its general manager Zhou Jiping said. The money would allow CNPC to upgrade the standard of its fuel to......【More】

2013-03-05

China May Grant Rosneft Loan for More Oil - Dvorkovich

China may grant Russian state-owned oil giant Rosneft a loan to boost China-bound oil supplies, Deputy Prime Minister Arkady Dvorkovich said on Wednesday, but did not say how much cash might be involved. A loan is not ruled out [to be given......【More】

2013-03-04

Asian Oil and Gas Companies Thirsty for Foreign Acquisitions

Asian oil and gas companies offer attractive investment opportunities, according to Pimcos February 2013 Asia Credit Perspectives. Many Asian countries, and China in particular, face rising energy deficits. Dependence on oil imports, which......【More】

2013-03-04

China Takes on More U.S. Shale Reserves

A subsidiary of China Petrochemical Corp. said it was spending $1 billion to buy half of rival Chesapeake Energy Corp.s oil and gas acreage in Oklahoma. Sinopec International Petroleum Exploration and Production Corp. said it was taking on......【More】

2013-02-28

Oil Rebounds in Asia Lifted by Data Points

Investing.com - Oil futures rebounded modestly during Wednesdays Asian as traders digested some solid U.S. economic data points that went mostly ignored in the oil pits Tuesday. On the New York Mercantile Exchange, light, sweet crude future......【More】

2013-02-28

Sinopec Buys into Chesapeake's Oklahoma Assets

BEIJING - The China Petrochemical Corporation (Sinopec) has purchased half of the stakes of the United States second-largest natural gas developer in its oil and gas assets in Oklahoma. The oil giant announced Monday that its wholly-owned s......【More】

2013-02-27