China is racing toward decarbonization at a rate that few could have predicted. The nation is crushing its competition in terms of clean energy spending, and Bloomberg recently described that a frenzied air of enthusiasm about solar power and electric vehicles in China that “suggests China is nearing an inflection …
Read More »Iran Exports Non-Oil Goods Worth over $2.4b to China in 2 Months
Iran exported non-oil commodities valued at $2.418 billion to China during the first two months of the current Iranian calendar year (March 21-May 21), the spokesman of the Islamic Republic of Iran Customs Administration (IRICA) announced. Mohammad Rezvani-Far said that China was the top export destination of Iranian non-oil goods …
Read More »China’s CNOOC Drills in Deeper Waters to Reduce Reliance on Foreign Oil
China’s drive to reduce its dependence on imported oil has led to the construction of a huge concrete facility near Zhuhai, resembling the size of Monaco, which serves as the centerpiece of its deepwater drilling efforts. The facility, operated by a unit of China National Offshore Oil Corp (CNOOC), is …
Read More »China Expected to be World’s Largest Importer of Clean Hydrogen
China is expected to be the world’s largest importer of clean hydrogen, requiring 13 million tonnes of imported hydrogen a year by 2030 due to the huge amount of clean energy required to decarbonise its different sectors, according to a report released by Deloitte on Thursday. Europe’s demand will amount …
Read More »China’s Investment Boom is Fueling Growth in Central Asia
China and Kazakhstan are planning a new rail connection and border crossing in the Bakhty-Ayagoz area, expressing hope that the new route can cut freight transit times. Kazakh President Kassym-Jomart Tokayev announced the move during the May 24 Eurasian Economic Forum, attended by representatives of the Eurasian Economic Union. Kazakhstan’s …
Read More »Will China’s Oil Demand Disappoint this Year?
China’s economic recovery is sputtering, prompting renewed concerns about crude oil and other commodities demand that could result in slower-than-expected global oil demand growth this year and weigh on oil prices. After the reopening from the Covid-related restrictions, China is expected to account for more than half of the world’s …
Read More »China Launches Asia’s Biggest Coal Carbon Capture Plant
China Energy Investment Corporation, a state-owned electricity generator, has started up a carbon capture project at one of its thermal coal power plants which will be the biggest such carbon capture facility in Asia. The carbon capture, utilization, and storage (CCUS) facility at the Taizhou thermal coal power plant will …
Read More »China’s 1st Offshore Million-Tonne Carbon Storage Project Put into Use
China’s first offshore million-tonne carbon storage project was put into operation on Thursday in the South China Sea, according to the China National Offshore Oil Corporation (CNOOC). The project is designed to store a total of more than 1.5 million tonnes of carbon dioxide (CO2), which is equivalent to planting …
Read More »China’s Swoop on Cheap Global Coal Set to Drive Record Imports
Falling coal prices could drive Chinese imports to all-time highs, as fuel unwanted elsewhere in the world is diverted to the biggest consumer. China’s purchases may hit about 326 million to 345 million tonnes in 2023, according to its top industry association. That compares with 266 million tonnes in 2022, …
Read More »US-China Green Energy Rivalry is Great for World
US ambitions to break China’s dominance of green energy supply chains are “great for the world” as long as tensions don’t lead to war, said iron ore magnate Andrew Forrest. The chairman of Fortescue Metals Group, the world’s fourth-largest iron ore producer, said it was healthy for competitors to challenge …
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