China's CNPC appoints Zhang Wei as general manager

China National Petroleum Corp (CNPC) has appointed Zhang Wei as its general manager, the state-controlled oil and gas giant said in a statement.Zhang was previously the general manager of state-run oil and chemicals group Sinochem, according to a statement posted on CNPC's website on Saturday.CNPC's previous general manager, Zhang Jianhua, was appointed to be the head of the country's National Energy Administration in November.

CNPC 2019-01-02

Sinopec suspends top officials at its trading arm: sources

Chinese state oil major Sinopec has suspended two senior officials at its trading arm Unipec after the company suffered losses, sources with knowledge of the matter said on Thursday.Unipec's President Chen Bo and the company's Communist Party secretary Zhan Qi were suspended from their positions following the losses, said three sources, who asked not to be identified due to the sensitivity of the issue.The sources did not refer to any wrongdoing on the part of the two men.Sinopec is Asia's largest refiner.A spokesman for Sinopec had no immediate comment.

Sinopec 2018-12-27

Gazprom and CNPC held the 14th JCC meeting

The 14th meeting of the Joint Coordinating Committee (JCC) of Gazprom and CNPC moderated by Vitaly Markelov, deputy chairman of the Gazprom management committee, and Hou Qijun, V.P., CNPC, took place in Guangzhou, People’s Republic of China.The meeting participants discussed the results of the programs implemented by the JCC working groups, as well as the prospects of cooperation between the companies in key focus areas.Specifically, the parties reviewed issues related to gas-fired power generation, use of gas as a vehicle fuel, underground gas storage in China, standardization, staff trainin

CNPC 2018-11-23

China's CEFC paid out compensation after Rosneft stake deal fell through

CEFC paid almost 225 million euros ($257 million) in compensation to a consortium of Qatar Investment Authority and Glencore (GLEN.L) after the Chinese firm’s deal to buy a stake in Russian oil firm Rosneft fell through, a document showed.The chief executive of Rosneft (ROSN.MM), Igor Sechin, said in September 2017 that CEFC had signed a deal to buy 14.2 percent of Rosneft from Qatar and Glencore.The deal was not completed and the circumstances under which it fell through remain unclear.Sources close to the matter said in March that CEFC had started paying when the CEFC Chairman Ye Jianming wa

CEFC 2018-11-20

Linde accelerates growth in China with a landmark partnership with Sinochem Group

The Linde Group, together with Sinochem Group Co. LTD, one of the four national oil companies in China, held a piling ceremony for its strategic joint-venture project to construct and operate a new air separation unit (ASU) and provide long-term gas products and services to Sinochem Quanzhou Petrochemical Co., Ltd. for its oil refining and ethylene project.Linde holds a 51% stake while Sinochem holds 49% stake in the new joint venture. Sanjiv Lamba, Member of the Executive Board, Linde AG, and Chief Operating Officer, Asia Pacific, said, “Linde is proud to enter into this inaugural partnership

China Investment 2018-11-01

Sinopec Expects Highest H1 Profit Since 2013

China Petroleum & Chemical Corporation, commonly known as Sinopec, said on Tuesday that it expects its net profit for the first half of 2018 to have jumped by around 50 percent on the year, on the back of higher oil prices, and according to Reuters calculations, the net incomes for both the first ha

Sinopec 2018-07-25

China's CITIC pays CEFC's Czech debts to end spat, to take over J&T stake

Czech financial firm J&T said on Friday it had struck a deal with Chinese state conglomerate CITIC Group [CITIC.UL] to settle debts owed by troubled Chinese company CEFC, ending a dispute.

CEFC 2018-05-28

China agrees to import more from U.S., no sign of $200 billion figure

China has agreed to significantly increase its purchases of U.S. goods and services, the two countries said on Saturday, but made no mention of a $200 billion target the White House had touted earlier.

China Economy 2018-05-21

China's CITIC group conducting due diligence on CEFC's Abu Dhabi oil stake: sources

State-run Chinese conglomerate CITIC Group is conducting due diligence on CEFC China Energy’s stake in onshore oil fields in Abu Dhabi as CITIC prepares, under the Chinese government’s direction, to possibly take over CEFC’s energy business, said two sources with knowledge of the matter.

CEFC 2018-04-24

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 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.

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

Beijing Gas Blue Sky entered into a Strategic Cooperation Agreement with GPS

Beijing Gas Blue Sky Holdings Limited announced that, the Company entered into the Subscription Agreement with a key shareholder and president of Global Power Synergy Group

China Natural Gas 2018-01-25

World’s largest ethane carrier ordered

The Luxembourg-based Jaccar Group has been entrusted with management of the construction of the very large ethane carrier (VLEC) in China.

China LNG 2017-12-06

China leads global efforts in clean energy expansion

​As the development of clean energy hit new records, China, the world's largest energy investor and innovation center, has made stronger-than-expected efforts to accelerate the process.

COSCO Shipping to buy OOIL for $6.3 billion

COSCO Shipping Holding Co Ltd, a subsidiary of China COSCO Shipping Corp Ltd, will purchase a majority stake in Orient Overseas International Ltd(OOIL) for $6.3 billion, creating a global shipping giant, Reuters reports Monday.

China Investment 2017-07-12

Energy SOEs in merger talks apply for trading halt extension

China Shenhua Energy and GD Power Development have applied to extend a share trading halt as merger discussions continue, Shanghai Securities News reports.

Linde doubles air gases capacity under new JV with SINOPEC in Ningbo, China

Linde doubles air gases capacity under new JV with SINOPEC in Ningbo, ChinaThe Linde Group and refining and chemical company SINOPEC have signed a €145m ($162m) joint venture to strengthen air gases supply in China’s Ningbo Chemical Industrial Zone.

2017-06-21

China, ADB launch green financing platform to fight pollution

China and the Asia Development Bank (ADB) have launched a green financing platform to support efforts by small- and medium-sized enterprises to cut pollution in the smog-hit Beijing-Tianjin-Hebei region, ADB said on Friday.

ChemChina acquires global pesticide, seeds giant - Syngenta

ChemChina, a Chinese State-owned enterprise, announced on June 8 its acquisition of the Swiss agribusiness Syngenta for a price of $43 billion, Thepaper.cn reported. ChemChina now owns a 94.7 percent share of Syngenta.

China Investment 2017-06-12
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