China’s nuclear power ambitions received a boost Wednesday as the country’s first next-generation reactor entered into commercial operations. China Huaneng Group Co.’s 200-megawatt unit at Shidao Bay is the world’s first high temperature gas-cooled reactor, the National Energy Administration said in a WeChat post. The reactor was given permission to …
Read More »China’s Largest Offshore Crude Oil Base Posts Record-High Daily Output
China’s largest offshore crude oil producer, Bohai Oilfield, has seen its daily oil and gas output reach more than 100,000 tonnes of oil equivalent, a record high over the past five decades, said China National Offshore Oil Corporation’s Tianjin branch on Thursday. Since the construction of the base in 1965, …
Read More »Europe Looks to Reduce Risks from Chinese Dependence in Offshore Wind
Europe has intensified efforts this year to protect its clean energy manufacturing industries and reduce dependence on China for its renewable energy rollout. Several proposed EU acts are aimed at boosting Europe’s competitiveness in the global clean energy supply chain and minimize risks to energy infrastructure security. Europe’s wind industry, …
Read More »Russia Set New Record for Daily Gas Deliveries to China
Russia set a new record for daily gas deliveries to China via the Power of Siberia gas pipeline, the press service of the energy corporation Gazprom said on Saturday. “On Nov. 23, the Chinese side’s application for the supply of Russian gas through the Power of Siberia gas pipeline again …
Read More »Chinese Utility Plans One of World’s Largest Renewable Projects
A Chinese firm has announced it will build a renewable energy project with more generating capacity than New Zealand in a vast inland desert province. China Energy Investment Corp. and its listed unit, China Longyuan Power Group Corp., are forming a joint venture to build the Badain Jaran in Gansu …
Read More »Russia and China Tighten Grip on Iraqi Oil Crescent
In line with Moscow and Beijing’s objective of keeping the West out of energy deals in Iraq to keep Baghdad closer to the new Iran-Saudi axis and to “end [the] Western hegemony in the Middle East [that] will become the decisive chapter in the West’s final demise,” Russia has struck …
Read More »Oil Prices Drop amid Warning Demand in US, China
Oil prices backed off on Monday, reversing their Friday rally, as renewed concerns over waning demand in the United States and China dented market sentiment. Brent crude futures for January were down 71 cents, or 0.87%, at $80.72 a barrel at 0400 GMT, while the U.S. West Texas Intermediate (WTI) …
Read More »China to Compensate Coal Plants as it Seeks Power Supply Stability
China will start guaranteeing payments to coal-fired power plants based on their installed capacity as of January 2024, as the world’s top coal consumer looks to ensure stability of electricity supply amid soaring renewable energy output. The National Development and Reform Commission (NDRC), the state planner, said on Friday that …
Read More »China’s Oil Demand Weakens
Lower refining margins, higher oil and fuel inventory levels, and a slower-than-expected increase in air travel have combined to push down oil demand in China, according to a Bloomberg report, with analysts expecting little change in the status quo in the coming months. “Domestic demand has lost steam following the …
Read More »Oil Prices Sputter Near 3-Month Lows as Demand Concerns Mount
Oil prices struggled on Wednesday after sliding to their lowest levels in over three months in the previous session, weighed down by concerns over waning demand in the world’s top oil consumers, the United States and China. Brent crude futures advanced by 15 cents to $81.76 a barrel by 0636 …
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