Tag Archives: China

China reported higher offshore crude oil and natural gas production for the first quarter, with oil production up by 3.8% and natural gas production up by 6.5%, Xinhua reported. The increase was part of a broader one for the country’s marine economy, which grew by 5.1% during the first quarter, …

Chinese refiners are ramping up purchases of Russia’s Urals crude–the mainstay of India’s Russian oil imports–leading to competition between the two Asian neighbours, which, among other factors, could result in New Delhi’s oil imports from Moscow peaking as early as this month. In April, India’s import of Russian crude set …

China Petroleum & Chemical Corporation (“Sinopec”) has initiated the drilling of Project Deep Earth 1-Yuejin 3-3XC Well on May 1 in the Tarim basin, Xinjiang Uyghur Autonomous Region. With a design depth of 9,472 meters, it will be the deepest oil and gas well in Asia and a breakthrough of …

The biggest developing economies and largest coal consumers, India and China, are seeking a G20 pledge that would leave countries to decide on “multiple energy pathways” to reduce emissions instead of setting a firm deadline for phasing out the use of fossil fuels, Indian government officials have told Reuters. India, …

China’s Baoshan Iron & Steel Co. has joined forces with Saudi Aramco and the kingdom’s sovereign wealth fund to set up a steel plant in the Middle Eastern nation as the two countries deepen commercial ties. The complex in Ras Al-Khair will churn out up to 1.5 million tons of …

Jiangnan Shipbuilding, a subsidiary of China State Shipbuilding Corporation, has delivered the world’s largest Very Large Liquefied Gas Carrier (VLGC) to Singapore-based shipping and trading company Petredec. This marks a significant milestone for the shipbuilding industry, as the 93,000 cubic meter VLGC is the largest VLGC in the world. The …

As Tesla announces a new Megapack battery factory in Shanghai, the question arises about which country or region will dominate electric vehicle (EV) production in the coming decades. Tesla also recently announced a major factory in Mexico, and other EV firms have been looking to diversify their manufacturing locations, finally …

China increasingly turned to coal imports during the first quarter to help power its economic recovery from the COVID-19 lockdowns, while its appetite for costly LNG sourced from the global market declined. Following a number of measures to bolster domestic coal production, global receipts and coal-fired power generation going forward, …

For the 1st quarter of this year, China’s iron ore imports hit a Q1 record. Altogether, prices climbed nearly 10% from January to March, reaching 29.3 million tons (MT). Indeed, March alone saw imports grow 1.8% to 100.23 MT. Helping these numbers were expectations of stronger steel demand as the …

Global electric car sales are set to surge by 35 per cent this year, helped by government subsidies and the tightening of carbon dioxide emissions standards, the International Energy Agency has said. Electric car sales are projected to reach 14 million in 2023 from 10 million last year, the Paris-based …