Tag Archives: China

South Korean chemicals companies are racing to tap new markets after racking up hundreds of millions of dollars in losses in the face of a deluge of capacity from China, their biggest market. Reliant on exports, firms including LG Chem Ltd. and Lotte Chemical Corp. are feeling the pinch as …

China has not received a single cargo of U.S. liquefied natural gas in 40 days and there are currently no LNG tankers en route to the country, Bloomberg has reported, citing data it compiled from ship-tracking information providers and energy analytics provider Kpler. The purchase freeze was the result of …

Some state-controlled Chinese refiners have reduced purchases of Russian oil loadings for March as they assess the risks of dealing with sanctioned entities and wait for more clarity about a possible Russia-Ukraine ceasefire and potential U.S. sanctions relief on Russia’s oil trade. State-owned refining giant China Petroleum and Chemical Corporation, …

Despite the expected rise in OPEC+ production in April, Saudi Arabia is set to ship significantly lower crude oil volumes to China next month to levels not seen in over a year, Reuters reported on Thursday, quoting trade and industry sources. Spring maintenance at some large state-controlled refineries in the …

Oil edged up as internal market metrics flashed signs that recent declines were overdone, overshadowing the prospect of a temporary truce in Ukraine. West Texas Intermediate rose 0.3% to top $66 a barrel, recovering from the lowest closing price in six months. Ukraine said it’s ready to accept a US …

Amid the global push for clean energy and advancements in artificial intelligence, China’s nuclear power sector is accelerating its transition toward safe, clean and efficient energy through the use of digital and intelligent technologies, a top industry official said. “China’s nuclear technology and services are among the best in the …

China is going to boost coal production and power generation despite plans to boost its wind and solar capacity as well, signaling hydrocarbons remain an essential source of reliable electricity. In a report released today and quoted by Reuters, the Chinese authorities also said they were going to change the …

State-controlled China National Offshore Oil Company (CNOOC) is set to launch a refinery and petrochemicals complex later this year, following a $2.74-billion upgrade, Reuters reported on Tuesday, quoting industry sources. The upgraded joint venture complex on the Daxie Island in Ningbo will feature a 120,000 barrels-per-day (bpd) crude unit, which …

China’s authorities have certified 1.3 billion barrels of new reserves at Sinopec’s two shale plays in the eastern part of the country, the Chinese state-controlled giant said on Monday. The new shale oil reserves have been found at the Xinxing field in the Jiyang trough of the Bohai Bay basin …

Liquefied natural gas imports to China slumped to the lowest since 2020 in February, at 4.5 million tons, Kpler data showed, as reported by Bloomberg. A relatively warm February contributed to the weaker demand, which led to China slipping to the global number-two spot in LNG imports, overtaken by energy-hungry …