Industry News

2007

• April

China looking to deepwater for energy needs: industry group (April 02 2007) Agence France Presse        China is increasingly looking to deepwater hydrocarbon resources such as gas and oil to meet growing energy demand from its rapidly expanding economy, an industry group said Monday.

Chinese firms pile into wind turbine sector (Apr 01 2007) Reuters News      Chinese firms are piling into technically complex wind turbine manufacturing, creating a supply glut and causing quality problems that may temporarily complicate Beijing's push towards cleaner energy, industry executives said.

• March

China's Zhenhua Oil wins oil and gas exploration rights in Pakistan (Mar 30 2007) Xinhua Financial Network        China Zhenhua Oil Co Ltd, a wholly-owned unit of China North Industries Corp, has signed an exploration contract wtih Pakistan government, acquiring 100 pct of two oil and gas blocks in Pakistan.

Venezuela Shipping 200K B/D To China -China's Venezuela Envoy (Mar 29 2007) Dow Jones Energy Service        Venezuela is currently shipping 200,000 barrels a day of oil to China as bilateral trade grows, said Ju Yijie, China's ambassador to Venezuela.

China backs idea of energy development center in Russia (Mar 28 2007) ITAR-TASS World Service        China supports a proposal for setting up in Russia an international center for sustainable energy development under UNESCO auspices.

China, Russia to boost cooperation in trade, investment, energy (Mar 27 2007) Xinhua News Agency        Visiting Chinese President Hu Jintao and Russian President Vladimir Putin Monday vowed to boost cooperation in trade, investment, energy and other sectors.

Analysis of China's energy import and export (Mar 26 2007) Xinhua News Agency        China has become one of the world's important countries in energy products trade.

China, Venezuela to advance mutually beneficial energy cooperation (Mar 25 2007) Xinhua News Agency        China focuses on achieving mutual benefits when carrying out economic cooperation with Venezuela, an senior official of the Communist Party of China (CPC) said here Sunday.

Venezuela's Chavez: China Set To Rival US As Top Oil Buyer (Mar 24 2007) Dow Jones International News        President Hugo Chavez said China is set to rival the U.S. as Venezuela's top oil buyer as he announced new plans with the Asian powerhouse to jointly ship oil, build refineries and expand crude production.

US couldn't ignore India, China on energy, security front' (Mar 23 2007) Organisation of Asia-Pacific News Agencies        Experts have warned the United States that Washington could not ignore the interests and aspirations of countries like India and China if it wants to adequately address issues of security and energy stability.

Chinese energy needs will buoy Alberta economy (Mar 22 2007) Edmonton Journal        Alberta's energy boom will be sustained by Chinese demand despite some risk of a U.S. recession, says economist Paul Krugman.

Myanmar says no to gas exports to India; prefers China (Mar 21 2007) Organisation of Asia-Pacific News Agencies        In a major blow to India's quest for energy security, Myanmar has refused to export gas to the energy-hungry nation and instead wants to lay a pipeline to China to sell natural gas found in its offshore area.

China's independent oil firms lobby for crude (Mar 20 2007) Reuters News      China's private oil sector has called on the government to free up part of the state-dominated crude oil market, a few months after Beijing started opening up the domestic distribution sector.

Kazakh PM visits NW China, pledging closer cooperation on border trade (Mar 19 2007) The Times of Central Asia      Kazakh Prime Minister Karim Massimov said Sunday Kazakhstan will work with China to speed up construction of the border area to further promote bilateral economic and trade ties.

China's oil and chemical industry makes fast development (Mar 19 2007) Xinuua News Agency      China will take the lead in the world in petroleum and chemical industrial development in the 2006-2010 period and become a key area for investors in and outside the country, ...

China CNOOC Aims To Make Offshore Wind Power A Core Business (Mar 18 2007) Dow Jones Chinese Financial Wire       China National Offshore Oil Corp. is aiming to use its dominance of China's territorial waters to make offshore wind power part of its core business in the future, the company's president, Fu Chengyu, said over the weekend.

China aims to boost renewable energy use-minister (Mar 17 2007) Reuters News      China aims to increase its use of renewable energy sources and improve energy efficiency as part of a national plan to combat climate change, China's environment minister said on Saturday.

China sure to meet energy saving targets by 2010: official (Mar 16 2007) Xinhua News Agency      China will definitely achieve its energy saving and emission reduction targets in the 2006 to 2010 period despite failing to meet last year's target, ...

China builds strategy oil reserve in Lanzhou for Kazakh oil (Mar 15 2007) Xinhua News Agency      China is likely to build a base for handling 10 million tons of strategy oil reserve a year in Lanzhou of Gansu Province, the first one in northwest China, and fill it with oil piped from Kazakhstan, ...

CNPC reinforces cooperation with Japan’s top oil company (Mar 13 2007) Xinhua News Agency      Cooperation between China’s oil giant CNPC, the parent company of PetroChina (NYSE: PTR,) and Japan’s largest oil company, Nippon Oil Cooperation, would be further intensified ...

Foreign firms eye joint oil projects (Mar 12 2007) China Daily      Foreign giants are gearing up to further tap China's offshore reserves since the country's top offshore oil firm opened an unprecedented number of blocks for international collaboration.

Nippon Oil Signs Mutual Supply Pact With China's CNPC -Kyodo (Mar 09 2007) Dow Jones International News      Japan's biggest oil wholesaler, Nippon Oil Corp. (5001.TO), has agreed to a mutual supply pact with China National Petroleum Corp., China's biggest oil company, Kyodo news service reported Friday.

China's CNPC strikes oil and gas in Algeria (Mar 08 2007) Reuters News      Top Chinese energy firm China National Petroleum Corp. (CNPC) said on Thursday it had struck a high volume of natural gas and oil from an appraisal well in Algeria.

Australia's Mission Biofuels signs deal to supply biodiesel to China (Mar 07 2007) Xinhua News Agency      Perth-based Mission Biofuels Ltd said it has signed a memorandum of understanding (MoU) for a joint venture production contract with China's East River Energy Resources and Science Technology (Zhejiang) Ltd, to produce biodiesel for the Chinese market.

China seen boosting natural gas use, new major pipeline studied (Mar 06 2007) AFX Asia      China is expected to boost its use of natural gas for industry and power generation as it tries to diversify its energy mix and reduce reliance on coal, a major source of pollution, analysts said.

CNOOC aims to list on Chinese mainland in 2007 (Mar 05 2007) Xinhua News Agency      China's largest offshore oil producer CNOOC plans to issue stocks on the Chinese mainland's A-share market this year, Chairman Fu Chengyu said on Monday.

China Lawmakers Talk Of Setting Up Energy Ministry - Xinhua (Mar 03 2007) Dow Jones Commodities Service      China lawmakers are urging the government to reestablish an energy ministry to better control the use of resources as China's energy needs continue to grow rapidly, Xinhua News Agency reported Sunday.

Shell Starts Up - China Gas Field - To Supply Beijing (Mar 02 2007) Wall Street Journal      Royal Dutch Shell PLC has started producing natural gas from a field in northern China that aims to help quench Beijing's growing thirst for the fuel as it strives to reduce pollution ahead of the 2008 Summer Olympics.

Sinochem says not bidding for Devon's Egypt assets (March 01 2007) Reuters News      China's state-run Sinochem Corp. has decided not to bid for Egyptian oil blocks offered by U.S. firm Devon Energy Corp. , a senior Sinochem upstream official said on Friday.

• February

China Sinochem To Bid For Devon's Egypt Oil Blocks (Feb 28 2007) Dow Jones Chinese Financial         Wire Devon said in January that it wants to sell its assets in Egypt and West Africa so it can focus on opportunities in North America, Brazil and China. Deals are expected to close between July and September.

China misses energy efficiency target (Feb 28 2007) Agence France Presse      China missed its target of improving energy efficiency by a wide margin in 2006, state media said Thursday.

Booming Economy of China Demands Energy (Feb 27 2007) PR Newswire (U.S.)      China is working towards a competitive energy industry backed by strong political support and infrastructural development.

China's new energy industry attractive (Feb 26 2007) Xinhua News Agency      Overseas investment institutes and transnational corporations are showing interest in China's new energy market, which has potential value of about 100 billion yuan, a recent China Energy Investment Forum disclosed.

China Selling Off Oil Rights It Got for Free (Feb 25 2007) The East African      There was outrage among European oil exploration companies interested in Kenya when it emerged last week that the state-owned National Oil Corporation of China - CNOOC - has quietly put out notices offering to farm out to third parties some of the oil exploration blocks granted to it by President Mwai Kibaki in April last year.

Buffett faulted for keeping PetroChina stake (Feb 23 2007) Reuters News      Warren Buffett's Berkshire Hathaway Inc. was criticized Friday for keeping its investment in PetroChina Co. amid claims the Chinese oil company's parent invests in Sudan.

Kazakhstan plans gas pipeline to China (Feb 21 2007) BBC News      Kazakhstan is planning to build a gas pipeline to China by 2010, a newspaper has said, quoting Energy and Mineral Resources Minister Baktykozha Izmukhambetov.

African nations wary of China's aid (Feb 19 2007) Daily Yomiuri      China's extravagant diplomatic efforts to secure energy resources from African nations is making the international community increasingly wary about Beijing's motives.

Chinese oil companies to set up their own reserves (Feb 15 2007) Agence France Presse      China may ask state-owned energy companies to establish oil reserves as a supplement to a national reserve being set up as the Asian giant struggles to fuel future growth, state media said Thursday.

China wins contracts for energy supply to Cambodia (Feb 14 2007) Thai News Service     Two Chinese companies have won contracts for expansion of Cambodia's energy supply system, according to sources from the Cambodian Council of Ministers.

CNPC Signs Aid Deal in Sudan (Feb 13 2007) Global Insight Daily Analysis      The China National Petroleum Corp. (CNPC) has signed an agreement with the government of Sudan to help fund training programmes in the country's oil and gas sector.

Iran sees China gas deal taking year to sign (Feb 12 2007) Reuters News       It will take a year to finalise a $20 billion deal to develop Iran's northern Pars gas field with China National Offshore Oil Corp (CNOOC), a newspaper on Monday quoted an Iranian energy official as saying.

China's courtship of Africa (Feb 09 2007) The Japan Times       Chinese President Hu Jintao is near the end of an eight-nation tour of Africa, which has renewed anxieties associated with ``China's rise.' Yes, the trip is proof of Beijing's expanding interests and its global reach.

China burns, Canada fiddles (Feb 08 2007) National Post     In Calgary tomorrow, two Tory Cabinet ministers will explain part of Ottawa's emerging plan to squeeze a few carbon emissions out of the oil and gas industry. Other schemes are reportedly in the works for the auto sector.

Fujian energetically develops wind power production (Feb 08 2007) Xinhua News Agency    The “Fujian Provincial Plan for Power Development in the 11 Five-Year Program Period” states that the East China province will energetically develop wind power production to bring the installed capacity of wind power up to 600,000 kW by 2010 and the proportion of wind power, 2 percent.

China to open 200 mln acres woodland for bioenergy (Feb 07 2007) Reuters News     China plans to earmark 200 million acres (13.3 million hectares) of woodland for biomass energy development to help meet the country's soaring demand and improve the environment, the government said.

Mr Hu's mission to Khartoum - Sudan and China (Feb 03 2007) The Economist     HU JINTAO, China's president, is a seasoned traveller. At present he is on an eight-nation tour of Africa, a continent he knows well from two previous trips.

China pushes offshore drilling (Feb 03 2007) Calgary Herald     China National Offshore Oil Corp., the nation's largest offshore oil developer, plans to spend 10 billion yuan ($1.3 billion US) on deepwater drilling equipment and almost double production by 2010.

Oil seals friendship for China and 'rogue' Sudan (Feb 02 2007) The Daily Telegraph    WHEN President Hu Jintao of China arrives in Sudan today, an isolated regime waging a brutal war in Darfur will offer an effusive welcome.

Exxon Mobil, Sinopec wins nod for major chemical plant in China (Feb 01 2007) Agence France Presse     China Chemical Petroleum Corp (Sinopec), the country's largest refiner, and energy giant Exxon Mobil have won approval for a 490-million-dollar petrochemical plant, the government said Thursday.

• January

Hu to tell Sudan of Darfur concerns (Jan 30 2007) The Australian     CHINESE President Hu Jintao leaves today for a tour of eight African countries, including Sudan -- where China's new role as the continent's leading international partner faces a crucial challenge.

China starts filling first strategic oil reserve (Jan 29 2007) Agence France Presse     China started filling its first strategic oil reserve on Monday, state media said, citing the National Development and Reform Commission, the top economic planning agency.

China to increase oil reserve transparency under IEA request (Jan 29 2007) Xinuua News Agency     An agreement aiming to improve the transparency of China's strategic oil reserves will likely be signed between the International Energy Agency (IEA) and the Chinese central government during IEA Executive Director Claude Mandil's visit to China.

CNOOC eyes natural gas in Yemen (Jan 27 2007) The Standard     CNOOC (0883), the largest offshore oil producer in China, is reportedly in talks aimed at acquiring a stake in a liquefied natural gas project in Yemen from US company Hunt Oil in a bid to secure its natural gas supply.

China to replace a quarter of refined oil with liquid biofuels (Jan 26 2007) Xinhua News Agency     The Chinese government aims to develop liquid biofuels like ethanol and bio-diesel in rural areas to cut usage of refined oil by 10 million tons, or more than a quarter, by 2020, senior official said on Thursday.

China eyes rural biofuels to ease oil imports (Jan 25 2007) Reuters News     China hopes wider use of biofuel in rural areas will cut oil product consumption by 73 million barrels a year by 2020, helping to improve energy security, the official Xinhua news agency quoted a senior official as saying.

Official denies China plundering African resources (Jan 25 2007) BBC News     In response to some Western media's allegation that "China is plundering African resources", Chinese Assistant Foreign Minister Zhai Jun said on 24 January that Sino-African relations are a new type of strategic partnership characterized by strong friendship ...

Citic unit spends US$995m to become major oil player (Jan 24 2007) South China Morning Post     Citic Resources Holdings plans to pay US$995 million for almost half of parent firm Citic Group's oil assets in Kazakhstan, making it China's fourth-largest listed oil producer, according to sources.

Some see Beijing's move to cut gas prices as a boon to Sinopec (Jan 23 2007) The Wall Street Journal     THERE COULD BE good news in the pipeline for China's biggest oil refiner. The high oil prices the world saw in the first half of 2006 were naturally good for many oil companies -- but not for China Petroleum & Chemical, better known as Sinopec.

Canadian banks told to invest in China: Be more 'aggressive,' finance minister urges (Jan 22 2007) The Ottawa Citizen     In a reminder that China expects its business relationship with Canada to be a two-way street, Finance Minister Jim Flaherty urged Canadian banks yesterday to be more "aggressive" at investing in China's financial services sector.

China's 1st Offshore Windfarm To Start Ops '09 (Jan 22 2007) Dow Jones International News     China's first offshore windfarm will go into operation in 2009 in the Shanghai area, the Web site backed by China National Petroleum Corp. said Tuesday.

Canadian envoy eyes tech links (Jan 19 2007) China Daily     China and Canada signed a Science and Technology (S&T) Cooperation Agreement yesterday to promote more collaboration between Canadian and Chinese reserach and development specialists.

China delays energy target report to check data (Jan 18 2007) Reuters News     China will delay reporting how far short it fell on official energy efficiency targets until it has tightened up the system used to calculate consumption, the official Xinhua agency said.

Chinese oil firm announces oil, gas business expansion (Jan 17 2007) BBC News     The China National Petroleum Corporation (CNPC) announced on Wednesday [17 January] that it had expanded its oil and gas operations to 25 countries in 65 projects.

China to become world's largest wind power producer (Jan 16 2007) Xinhua News Agency     China is expected to overtake Germany and the United States to become the world's largest wind power producer by 2020, a report forecast.

S Korea to start production in China oil field (Jan 15 2007) Reuters News     South Korean companies will start production at an oil field in China in the second half of this year, Seoul's energy ministry said on Monday.

China's CNPC annual oil and gas production up to new record (Jan 14 2007) Agence France Presse     PetroChina, the nation's top energy firm, said Monday its annual oil and gas production jumped to a new record, up 5.2 percent from 2005.

Asian leaders to explore possible fuel stockpiling (Jan 13 2007) Reuters News     Asian countries will examine the possibility of a regional fuel stockpile along with other possible ways of holding oil reserves, according to the draft of a statement seen by Reuters on Saturday.

16 Asian nations to adopt accord on boosting energy security (Jan 12 2007) The Associated Press     Leaders of 16 nations from South Korea to Singapore are expected to agree to boost Asia's energy efficiency and combat climate change by seeking new fuel sources ...

China tells U.S. not to meddle in its business relations with Iran (Jan 11 2007) The Associated Press     China warned the United States on Thursday not to meddle in its trade relations with Iran after Washington expressed concern about a Chinese oil company's planned investment in an Iranian gas field.

China to Shift Crude Oil Imports Sources in 2007 (Jan 10 2007) Global Insight Daily Analysis     China has detailed a subtle shift in its import strategy for 2007. According to reports by Reuters, amongst the adjustments that will be made in the year to come are more purchases from Saudi Arabia and less from Iran.

India and China Explore Alternatives, but Too Often The Diesel Generator Rules (Jan 09 2007) The New York Times    A toxic purple haze of diesel exhaust hangs over the rice and jute fields here in northeastern India, and bird songs are frequently drowned out by the chug-a-chug-a-chug of diesel generators.

Big three spell tough times for private enterprise (Jan 08 2007) Aberdeen Press & Journal     By The end of 2005, after reorganisation, there were nearly 100 qualified regional and state-owned refinery enterprises (with a processing capacity of 800million tonnes); 800 refined oil wholesale enterprises; ...

CNOOC and Devon Signed New Deepwater Contracts (Jan 06 2007) China Chemical Reporter     China National Offshore Oil Corporation (CNOOC) has signed two production sharing contracts (PSC) with Devon Energy Corporation (Devon, NYSE: DVN) for deepwater blocks 64/18 and 53/30.

China, US Must Work Together on Energy' (Jan 05 2007) China Daily The transfer of energy technologies from the United States to China will help the world's two biggest energy consumers reduce their impacts on the global environment, a Harvard professor in Beijing said yesterday.

China Turns Mekong Into Oil Shipping Route (Jan 04 2006) Inter Press News Service     As energy hungry China turns the ecologically fragile Mekong river into an oil-shipping route, green activists and environmentalists in South-east Asia worry that spillages could destroy the livelihoods of millions of people residing along the lower reaches of the region's largest waterway.

Where, not what, China buys to shape 2007 fuel oil (Jan 03 2007) Reuters News     The question that defines Asian fuel oil markets this year may not be how many tonnes Chinese importers buy, but where they choose to purchase them.

China's oil hunt heats up abroad (Jan 02 2007) The Wall Street Journal     China's private entrepreneurs are joining its big companies in striking abroad to search for oil to satisfy their nation's insatiable thirst, in the latest sign of how the world's fastest-growing major economy is roiling energy markets.

Citic completes Kazakh oil assets deal (Jan 01 2007) Financial Times     Citic Group, the Chinese state investment arm, has completed a $1.9bn deal to buy oil assets in Kazakhstan from Nations Energy, dispelling speculation that the purchase might be blocked by Kazakh authorities.