Kunlun Energy aiming to complete oil and gas assets disposal by year end to focus on distribution

Kunlun Energy is aiming to complete the disposal of its oil and gas production assets by the end of this year to sharpen its focus as the listed natural gas distribution unit of oil and gas giant PetroChina, its chairman said on Friday.Huang Weihe said it will take time to execute the planned assets sale since it involves various jurisdictions, including in China, Thailand, Peru, Oman, Kazakhstan and Azerbaijan.“We are striving to complete the sale of some, if not all, of our upstream production assets before the end of this year,” he told reporters after the company’s annual shareholder meeti

China Investment 2019-04-18

In a sleepy Louisiana town, two Chinese chemicals firms are being hit on multiple fronts by the trade war

US President Donald Trump’s trade war with China has thrown a spanner in the works of two Chinese chemicals companies spending billions of dollars building factories in the United States.Yuhuang Chemical was started in 1994 by a village branch of the Chinese Communist Party in Shandong Province, but in 2014, it raised some eyebrows when it announced plans to build a US$1.85 billion methanol plant in St James Parish, Louisiana.Last year, Wanhua Chemical, a listed company also from Shandong, followed suit with plans to build a US$1.25 billion plant in the same town in Louisiana, which has a popu

2019-03-12

China's Oct crude oil stocks rise 29 mil barrels on month, may rise further in Nov

China's crude oil stocks as of end-October rose 29.09 million barrels from a month earlier, and stocks are expected to continue building in November on high crude oil imports amid a slowdown in refinery throughput.The stockbuild in October surged 416.7% from the build in September, and contrasted sharply to a draw of 26.81 million barrels in the same month last year, S&P Global Platts calculations based on official data showed.The high stockpile was within expectations as crude supply rose to a historical high, outstripping the increase in refinery throughput.China does not release official da

China Crude Oil 2018-11-21

China’s Oil Inventories Rise 416.7% In One Month

Crude oil stockpiles in China rose by 29.09 million barrels last month from a month before and are likely to continue up, S&P Global Platts calculations have suggested. The inventory build was a result of rising imports combined with lower refinery activity, which led to the 416.7-percent surge in October from September.On an annual basis, crude oil supply in October rose 21.3 percent to 415.96 million barrels, S&P Global Platts also said, noting the monthly increase in total supply was a lot more modest than the jump in inventories, at 8.9 percent, mostly as a result of higher imports.China’s

China Oil 2018-11-21

China independents look for other crude oil grades to cover Venezuelan shortfall

A drop in crude oil supply from Venezuela is forcing China's independent refiners to look for alternative source of heavy crude, with Mexican Maya, Colombia's Castilla and Canadian Cold Lake Blend options being considered, sources said.

China independent oil plants face closure under new tax rules, competition

China's new tax rules introduced in March could force some independent oil refineries to close, and the way to survive tighter regulatory scrutiny and the onslaught of growing competition is to cut costs and beef up competitiveness, an oil executive said.

China data: Apr crude throughput up 12% on year, down from record high in Mar

China's refinery crude throughput rose 11.5% year on year to 49.58 million mt in April, or an average of 12.11 million b/d, preliminary data from the National Bureau of Statistics released Tuesday showed.

China Petrochemical 2018-05-16

China data: Brazil becomes top crude oil supplier in Apr for independent refiners

Brazil again overtook Russia as the top crude oil supplier to China's independent refineries in April by supplying 1.64 million mt, up 144.1% from a year earlier, S&P Global Platts monthly survey showed.

Second VLCC export cargo heads to China: In the LOOP

The second direct-to-VLCC export of US crude from the Louisiana Offshore Oil Port is en route to the port of Shanghai, China, according to S&P Global Platts trade-flow software cFlow.

China Oil Import 2018-04-08

China data: Jan-Feb crude throughput rises 7.3% on year to 11.6 mil b/d

China's refinery crude throughput rose 7.3% year on year to 93.4 million mt, or an average 11.6 million b/d, over January-February, according to preliminary data released Wednesday by the National Bureau of Statistics.

2018-03-15

China's apparent oil demand set to slow down after high growth in 2017

China's apparent oil demand rose 5.5% year on year to 11.77 million b/d in 2017, but analysts said that they expected rising crude prices and an anticipated slowdown in economic growth to take a toll on consumption of oil products.In addition, as China focuses more on quality and energy efficiency, analysts said that policy changes would also cap oil consumption.S&P Global Platts China Oil Analytics expect the apparent oil demand to rise by 500,000 b/d in 2018, equivalent to a year-on-year growth of 4.2%.This is in line with forecasts by Sinopec's and CNPC's research institutes, saying that oi

China to reduce retail oil prices

BEIJING, Feb. 9-- China will reduce the retail prices of gasoline and diesel for the first time this year as international oil prices have fallen, the country's top economic planner said Friday.The retail prices of gasoline and diesel will drop by 170 yuan (about 27 U.S. dollars) and 160 yuan per tonne, respectively, from Saturday, according to the National Development and Reform Commission (NDRC).p Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per tonne and remain at that level for 10 working days, the prices of refined oil products such as

Sinopec predicts Chinese fuel exports will keep growing

China’s exports of refined fuel are to continue growing in the medium to long term, state-run Sinopec has forecast.Exports will continue to grow because of slowing domestic demand and the start-up of new refining facilities, it said. Beijing-based Sinopec is the second largest oil and gas company in China and Asia’s top refiner.The firm said in its latest annual oil and gas sector outlook that Chinese oil product shipments abroad would increase by 4% this year to reach 41 million tonnes, Reuters reported.Chinese demand for domestic oil product will rise by around 3% this year, Sinopec predicte

China Refining Sinopec 2018-02-09

China's Refining Sector Policy Timeline-China's Oil Sector Policy Update

China's Refining Sector Policy Timeline-China's Oil Sector Policy Update: 2015-2018

China's refined oil demand expected to grow 3 pct in 2018

BEIJING, Feb. 2-- China's demand for refined oil is likely to rise 3 percent year on year in 2018 and slow down gradually in the medium- and long-term, an industrial report predicted.The United States will rise to be a major crude oil supplier for China after the latter overtook the former to become the world's largest crude oil importer last year, according to a report released by Chinese oil giant Sinopec and think tank Chinese Academy of Social Sciences.China imported 420 million tonnes of crude oil last year, up 10.1 percent, setting a record high, official data showed.China's refined oil

Sinopec sees China's fuel exports rising, shale gas ops nearly in red

State-run Sinopec Group said it expects China’s refined fuel exports to keep rising in the medium to long term as domestic demand growth slows and new refining capacity comes onstream in 2020, while its shale gas operations struggle with high costs.

China to raise retail oil prices

China will raise the retail prices of gasoline and diesel from Saturday for the second time this year, according to the country's top economic planner.

China Petrochemical 2018-01-29

China's Sinochem to re-open U.S. trading desk as Americas oil output surges

China’s Sinochem Corp plans to open a trading office in the United States, drawn by the opportunity to trade growing production in the Americas, five sources with knowledge of the matter said on Friday.

China Oil 2018-01-29

China Unlikely To Maintain Record Oil Product Exports

China exported a record volume of refined oil products in December, but the oil price rally has been driving refining margins down in recent weeks. These falling margins mean January’s oil product exports may be lower as its production falls.

China Petrochemical 2018-01-16

China raises retail fuel prices

China will raise the retail prices of gasoline and diesel from Saturday, the first adjustment this year, according to the country's top economic planner.

China Petrochemical 2018-01-15
Top
Message

Please leave your comment

Name*
Tel*
Email*
Company*
Message*
提交