China slows down spending on Belt and Road energy projects

The nation’s financing for Belt and Road Initiative energy projects dropped 28 per cent to US$14.3 billion last year from US$19.9 billion, according to data released Monday by Boston University’s Global Development Policy Centre.

China plans to create energy ministry in government shake-up – sources

China plans to create an energy ministry to oversee the country’s vast oil, natural gas, coal and power sectors, part of a government shake-up to make policymaking more efficient, four sources with ties to the country’s leadership said this week.

China Policy 2018-03-09

China To Consolidate Energy Industry Authority In New Ministry

China’s government plans to consolidate its energy industry authority into a new ministry, to replace the National Energy Administration, unnamed sources told Reuters. The NEA was set up ten years ago as a unit of the National Development and Reform Commission—the authority in charge of economic pla

China Policy 2018-03-09

China should pay more attention to energy security in future: Chinese expert

With growing energy demand, China should pay more attention to its energy security with more diversified energy sources in the future, a Chinese energy strategy expert said here on Wednesday.

China Energy Opinion 2018-03-08

Oil Boom-Bust Cycles Shrinking, Conoco CEO Says: CERAWeek Update

It’s Day 2 at CERAWeek by IHS Markit, the five-day gathering in Houston of some of the energy industry’s biggest names. Tuesday’s highlights include appearances by the CEOs of Saudi Aramco, BP Plc and ConocoPhillips. Shale, the future of petroleum demand, and low-carbon technologies are among the recurring themes for industry executives and government ministers alike.We will be following developments here in real time. Time stamps are Houston.Boom-Bust Cycles in Oil Tightening: Conoco CEO (10:47am)The ups and downs in crude markets are getting steeper and faster, increasing the challenges expl

Global Market Opinion 2018-03-07

CERAWEEK: BP's Dudley calls for price on carbon

Bob Dudley, BP's group chief executive, called Tuesday for a global price on carbon in order to reduce greenhouse gas emissions."We need governments, in our opinion, to put a price on carbon," Dudley told the CERAWeek by IHS Markit conference.Dudley did not suggest what a global price structure would look like and acknowledged it presented numerous challenges.Dudley, who chairs the Oil and Gas Climate Initiative, a group of 10 oil and gas companies focus on reducing GHG emissions, said the industry "can and must be part of the solution."In a speech before the Houston energy conference, he said

Global Market Opinion 2018-03-07

IEF Secretary General: more chance for China, U.S. to cooperate in energy

With the booming shale production in the United States and growing demand in China, the two countries have more opportunities to cooperate in the energy field, Secretary General of International Energy Forum (IEF) Xiansheng Sun said Tuesday.

China Energy Opinion 2018-03-07

China to invest $300b by 2030 as part of one belt, one road project

China’s outbound direct investment in The Belt and Road Initiative will reach $300 billion by 2030, according to the chief economist of Bank of China.

China's carbon market will take two more years to set up: SinoCarbon

China's nationwide emissions trading system will probably take another two years to develop, according to an analyst with low-carbon services company SinoCarbon.

China continues campaign against air pollution

Despite some success in controlling air pollution, China will give no quarter in the battle against pollution, a senior official said Tuesday.

China's robust appetite for raw materials to boost freight demand: Bimco

China's strong demand for iron ore, coal and crude is driving up the demand for ships and is serving as an engine of growth for the dry bulk shipping and the tankers' sector, Baltic and International Maritime Council said in a report last week."Not only is China repeatedly importing larger volumes, it is also sourcing most of its imported iron ore from seaborne exporters with more than 98% of the imports arriving via sea," Peter Sand, Bimco's chief shipping analyst, said. Bimco is the world's largest international shipping association, with around 2,100 members in over 120 countries.China cont

Global Market 2018-02-24

China's Security Risks Rise as Energy Problems Mount

It seems that nearly everything that could go wrong has gone wrong for China's energy security following a decision to ban coal-fired heating in northern cities and switch to natural gas.Under a joint government and municipal action plan last March, 28 northern cities were told to stop burning coal for heat this winter to avoid another "airpocalypse" smog crisis in Beijing.But final orders for switching to gas or electricity came from the Ministry of Environmental Protection (MEP) only in late August, allowing little time for making connections by the start of the winter season on Nov. 15.Thou

China Policy 2018-02-24

BP sees self-driving electric vehicles crimping oil demand by 2040

The emergence of self-driving electric cars and travel sharing are set to dent oil consumption by 2040, oil and gas giant BP said, forecasting a peak in demand for the first time.

Opinion Global Market 2018-02-23

China's energy revolution calls for rethink by fossil-fuel ports: expert

A logistics researcher in Zhoushan, East China's Zhejiang Province has called for a timeout in building massive ports for crude oil imports, as the nation's energy consumption transformation could make billions of yuan worth of investments obsolete. Port construction has been booming in response to the Chinese central government's call for the establishment of free trade ports, with local governments scrambling apply for such status.According to a report released by the website of the China Securities Journal newspaper on January 31, more than 10 provinces and cities across China plan to "acti

Q&A: What's Next for W.Va.'s China Energy Deal?

Brian Anderson, director of the Energy Institute at West Virginia UniversityNovember last year West Virginia's Commerce Department announced a deal with China Energy the biggest Chinese coal company, to invest billions in the state’s natural gas industry. A memorandum of understanding outlines a 20 year commitment to invest 83.7 billion dollars in the states shale gas industry. The deal didn’t happen overnight. Brian Anderson, founder and director of the Energy Institute at West Virginia University offers some insight into the deal and the company behind it.Q: When did this deal with China Ene

Changing game: China set to shake up global energy market

China’s insatiable demand for oil and gas has for long been transforming the global markets. Soaring US energy exports to the world’s biggest oil buyer have added a new twist to the game.Surging US oil shipments to China have created trade between the world’s two biggest powers that until 2016 just did not exist. Data in Thomson Reuters Eikon shows US crude shipments to China went from nothing before 2016 to a record 400,000 barrels per day in January, worth almost $1bn.The paradigm shift evolves as US now produces more oil than top exporter Saudi Arabia and is set to take over the No 1 produc

China looks to retain local subsidies for electric vehicles: Bloomberg

The Chinese government is leaning towards retaining local subsidies for electric vehicles after eliminating a prior proposal to scrap the funding, Bloomberg reported on Monday.The newly amended policy is said to be in final stages of discussions in order to sustain a rising demand for new-energy automobiles in China.After deliberating on the move to curb local aid to control state expenditure, policy makers are anxious that discontinuing local incentives would weaken the development of the new-energy vehicles sector, according to Bloomberg.Until last month, it was expected that the country wou

Major China regions see smog worsen, adding to fears polluters are moving south

Though concentrations of small, breathable particles known as PM2.5 fell 17.9 percent year on year to 64 micrograms per cubic meter in 338 cities nationwide in January, the Yangtze River Delta registered an average of 72 micrograms, up 20 percent, according to official data published on Monday.

Energy efficiency key for China’s ecological goals

China will step up reforms "of the system for developing an ecological civilization," an important point raised in the 19th National Congress of the Communist Party of China. This is of pivotal significance for green growth. To proceed with ecologically conscious development, the country needs to put a ceiling on the use of resources, set minimum environmental quality requirements, draw an uncrossable "red line" for environmental protection, and put in place a baseline for energy safety. Such efforts will be the mainstays of the nation's ecological civilization push.The contradiction between l

China’s Changan Auto To Stop Selling Gas Cars By 2025

Chinese manufacturer Changan intends to be one of the first automakers to discontinue the sale of combustion-engine cars. ETA for the phaseout to be completed is pegged for 2025.Over that period, the company’s investment into New Energy Vehicle technology (AKA all-electric and/or plug-in hybrid tech) is to exceed 100 billion yuan ($15.10 billion).“Chongqing Changan is one of the first Chinese companies to commit to a total phase-out of petrol-engine cars.”The strategy of Changan could pay off, especially if China remains on its current course to promote plug-in vehicles and legislate their in


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