Saudi Arabia strikes $10 bln China deal, talks de-radicalisation with Xi

Saudi Crown Prince Mohammed bin Salman cemented a $10 billion deal for a refining and petrochemical complex in China on Friday, meeting Chinese President Xi Jinping who urged joint efforts to counter extremism and terror.The Saudi delegation, including top executives from state-owned oil company Saudi Aramco, arrived on Thursday on an Asia tour that has already seen the kingdom pledge investment of $20 billion in Pakistan and seek to make additional investments in India’s refining industry.Saudi Arabia signed 35 economic cooperation agreements with China worth a total of $28 billion at a joint

China Oil 2019-02-26

Germany's BASF, China's Sinopec sign MOU for steam cracker feasibility study

Germany's BASF and China's state-owned Sinopec are jointly conducting a feasibility study to build a second steam cracker in Nanjing, China, with 1 million mt/year of ethylene capacity, a BASF spokesman said Monday.

Sinopec 2018-10-30

CNOOC, Shell evaluate petrochemical expansions at Nanhai complex

China National Offshore Oil Corp. and Shell International Petroleum Co. Ltd. have signed a memorandum of understanding to explore their existing collaboration and the development of petrochemical manufacturing installations

Exxon Inks LNG, Petrochem Deal In China

Exxon will build a multibillion-dollar petrochemical complex in China and invest in an LNG import terminal, both in the Guangdong province, the company said. The news comes amid growing trade tensions between Beijing and Washington that have sparked concern about the future of U.S. oil and LNG expor

CNPC to invest more than US$22 bn in Xinjiang

The China National Petroleum Corporation, one of the largest integrated energy groups in the world, is planning to invest more than 150 billion yuan (US$22.08 billion) in Xinjiang, the autonomous region in northwest China in the coming three years, The Paper reported.

China Investment CNPC 2018-07-25

Petrobras-CNPC talks put China closer to first Americas refinery

Brazil’s state-run oil company Petroleo Brasileiro SA and China National Petroleum Corp (CNPC) took another step on Wednesday in negotiations that could give the Chinese their first refining capacity in the Americas.

China Refining CNPC 2018-07-05

China's ChemChina, Sinochem set to merge - Caixin

Chinese state-owned Sinochem Group and ChemChina will merge to create a new company, and Sinochem Chairman Ning Gaoning will become the chairman of ChemChina, financial publication Caixin reported late on Saturday.

China Aviation Oil to sell 39% stake in Xinyuan petrochemicals firm

China Aviation Oil (CAO) intends to sell its 39% stake in China Aviation Oil Xinyuan Petrochemicals (Xinyuan).

China Petrochemical 2018-06-21

FACTBOX: China threatens 25% tariff on US energy, agricultural products

The trade war between the US and China escalated on Saturday with China threatening an additional 25% tariff on $50 billion worth of US goods, including energy and agricultural products, in response to President Donald Trump's decision to place similar tariffs on the same annual value of Chinese pro

Sources: China's Hengli Buys Brazilian Oil Ahead Of Refinery Start-Up

Chinese chemical producer Hengli Group has bought its first crude oil cargo from Brazil ahead of the start-up of a new refinery in the fourth quarter, two sources with knowledge of the matter said on Wednesday.

China Oil Import 2018-06-14

Chinese Firm To Invest $2B In Oil Refinery In Iran

A Chinese investment firm will spend US$2 billion on building an oil refinery in the Iranian northern province of Mazandaran, the official Islamic Republic News Agency (IRNA) reported on Monday, quoting the deputy head of the province’s center for attracting foreign investment, Mousa Qasem-Pisheh.

China Investment 2018-05-30

China Aviation Oil Q1 profit increases 14% to US$26.9m

JET fuel trader China Aviation Oil (Singapore) Corporation (CAO) posted a 13.9 per cent increase in net profit from US$23.6 million in the year ago period to US$26.9 million, it said in a Singapore Exchange filing on Wednesday evening.

China Petrochemical 2018-05-10

US slaps preliminary antidumping duties on PTFE from China, India

The US Department of Commerce Tuesday said it had imposed preliminary antidumping duties on polytetrafluoroethylene imports from China and India.

China's Sinopec posts best quarterly earnings in nearly 3 years

China Petroleum & Chemical Corp (Sinopec) reported its best quarterly profit since June 2015 on strong earnings from its refining department and firmer crude oil prices.

Sinopec 2018-04-27

China Sets Its Sights On First South American Refinery

China could be on the brink entering the refining industry in the Americas if it inks a deal with Brazil’s Petrobras that will see it invest in the Comperj refinery in exchange for local crude oil, two sources close to the negotiations told Reuters.

China Refining CNPC 2018-04-20

ChemChina, trader Mercuria confirm expanding cross-investments

China National Chemical Corp, or ChemChina, confirmed on Monday that it plans to increase its stake in global energy trader Mercuria Group and sell the trader a minority stake in the state firm’s refining business.

China Investment 2018-04-17

China's Sinochem hires banks for $2 billion IPO of oil assets: sources

China’s Sinochem Group has hired seven banks to manage a $2 billion Hong Kong stock listing of its key oil assets, three people said, as the state-owned firm shifts to higher-value businesses, including petrochemicals production.

Sinochem 2018-04-11

China's Sinochem Group plans $2-bn Hong Kong IPO for various oil assets

China's Sinochem Group has invited banks to pitch for roles in a proposed Hong Kong listing of its key oil assets, which could raise about $2 billion, IFR reported on Monday, citing three people with knowledge of the matter.

IPO Sinochem 2018-03-13

China’s Hengli Petrochemical in talks to take Saudi crudes for trial run

China’s independent refiner Hengli Petrochemical is in talks to secure crude shipments from Saudi Arabia for its trial run in October as it has applied for 20 million mt/year of quota for cracking imported crude oil, a company source said.

China Refining 2018-03-12

China's CNPC says to buy 30-pct stake in Brazilian fuel distributor

China’s CNPC said on Thursday that its international unit, PetroChina International Co, has agreed to buy a 30-percent stake in Brazilian oil products trader TT Work, as it pushes to expand abroad.

Sinopec 2018-03-12
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