Transneft, the state-owned oil pipeline operator, intends to raise fees for oil transit by 9.9 percent in December to help fund new links and leave the fees at that level next year as oil producers complain about rising costs.
Russian companies will supply about 70 percent of the required oil at market prices for a joint refinery project involving China's CNPC and Russia's Rosneft, China's Energy Minister Zhang Guobao said on Tuesday.
The National Iranian Petrochemical Company (NIPC) and a Chinese consortium are about to finalize a deal whereby China will invest some $1 billion in petrochemical projects in Iran, the Mehr news agency reported on Saturday.
India overtook Japan in demand for oil among Asian nations in the second quarter of 2010, reflecting its rapid economic growth, according to Platts, a provider of information on energy and metals.
Russian energy giant Gazprom may build a gas pipeline from Russia to China before it implements the South Stream project, planned for gas transportation across the Black Sea, a business daily said on Tuesday.
State-owned Chinese oil majors Sinopec Group and CNOOC have held talks with Brazilian oil and gas start-up OGX (OGXP3.SA: Quote) to buy some of the latter's oil assets, Chinese media said, the latest effort to further expand its presence in the South America nation.
Rosneft is continuing to draw down a huge loan from China despite amassing a record cash pile because Russian interest rates are higher than the oil producer is paying on the debt, allowing it to profit on the difference.
China my include oil held by private companies in calculations of the nation's state commercial reserves, China Business News reported, citing Zhao Youshan, head of the China Chamber of Commerce's fuel distribution department.
Chinese officials said Monday one of the nation's worst oil spills had been cleaned up 10 days after a massive explosion sent an estimated 1,500 tons of crude into the Yellow Sea along the northeastern port city of Dalian.
China and Iran are conducting negotiations to use the Chinese Yuan in settling oil contracts to thwart sanctions being imposed by the West, Iran News has reported.
27 July 2010 , 09:12Oil and Gas Information Agency0
China has invested US$34.6 billion in renewable energy industry in 2009, making the country the biggest investor in the industry in the world, said Li Junfeng, deputy director of the Energy Research Institute of the National Development and Reform Commission.
China plans to build three large-scale emergency tanks for oil spill in the eastern coastal area, a facility to cope with oil spill as what happened in Dalian port, an official with the Ministry of Transport was quoted as saying by the Economic Observer.
China's largest reported oil spill has more than doubled in size to 165 square miles on July 21,2010, forcing beaches to close and prompting officials to warn of a "severe threat" to sea life and water quality.
23 July 2010 , 09:32Meredith CantrellPipeline and Gas0
The International Energy Agency said Tuesday it expects oil demand to grow more slowly next year in China and most other parts of the world, indicating that crude prices are likely to trade at subdued levels well into next year.
14 July 2010 , 08:32Spencer SwartzThe Wall Street Journal0
Pakistan's president appealed for Chinese help in developing his country's stagnant energy sector, pointing to nuclear power as one growth area but making no public mention of a deal with China that has alarmed the U.S. and others.
China and Nigeria are to begin building an $8 billion 300,000 barrels per day oil refinery in Nigeria, Greenfield Refineries General Manager Adebayo Ibirogba said, according to the Nigerian Tribune.
China, the world's second-biggest energy consumer, may see a 9% increase in monthly oil demand in the second-half of 2010 as compared with previous year, the China Daily reported.
Transneft, the state-owned oil pipeline operator, intends to raise fees for oil transit by 9.9 percent in December to help fund new links and leave the fees at that level next year as oil producers complain about rising costs.
Construction of the world's largest deep-water oil drilling vessel has started in northeast China's Liaoning province.
Russian energy giant Gazprom may build a gas pipeline from Russia to China before it implements the South Stream project, planned for gas transportation across the Black Sea, a business daily said on Tuesday.
Rosneft is continuing to draw down a huge loan from China despite amassing a record cash pile because Russian interest rates are higher than the oil producer is paying on the debt, allowing it to profit on the difference.
Chinese officials said Monday one of the nation's worst oil spills had been cleaned up 10 days after a massive explosion sent an estimated 1,500 tons of crude into the Yellow Sea along the northeastern port city of Dalian.
China and Iran are conducting negotiations to use the Chinese Yuan in settling oil contracts to thwart sanctions being imposed by the West, Iran News has reported.
China has invested US$34.6 billion in renewable energy industry in 2009, making the country the biggest investor in the industry in the world, said Li Junfeng, deputy director of the Energy Research Institute of the National Development and Reform Commission.
China plans to build three large-scale emergency tanks for oil spill in the eastern coastal area, a facility to cope with oil spill as what happened in Dalian port, an official with the Ministry of Transport was quoted as saying by the Economic Observer.
China's largest reported oil spill has more than doubled in size to 165 square miles on July 21,2010, forcing beaches to close and prompting officials to warn of a "severe threat" to sea life and water quality.
Chinese Alcatel-Lucent Shanghai Bell Company will modernize the gas distribution system in |Uzbekistan in 2010-2011, RBK reports.
China overtook the U.S. last year to become the world's biggest energy user, the International Energy Agency revealed on Monday.
The International Energy Agency said Tuesday it expects oil demand to grow more slowly next year in China and most other parts of the world, indicating that crude prices are likely to trade at subdued levels well into next year.
Pakistan's president appealed for Chinese help in developing his country's stagnant energy sector, pointing to nuclear power as one growth area but making no public mention of a deal with China that has alarmed the U.S. and others.
China and Nigeria are to begin building an $8 billion 300,000 barrels per day oil refinery in Nigeria, Greenfield Refineries General Manager Adebayo Ibirogba said, according to the Nigerian Tribune.
China, the world's second-biggest energy consumer, may see a 9% increase in monthly oil demand in the second-half of 2010 as compared with previous year, the China Daily reported.
