Tag Archives: China

At a time when the global crude oil market is facing tight supplies, the revival of demand from China following the relaxation of Covid restrictions helped oil futures to trade higher on Tuesday morning. At 10.04 am on Tuesday, the August Brent oil futures were at $120.22, up by 0.41 …

China aims to double its wind and solar capacity by 2025, according to a new road map that also allows for more coal-fired power plants to bolster energy security. The world’s biggest polluter earlier estimated it needs to double wind and solar use by 2030 to deliver on its pledges …

Oil prices strengthened on Wednesday after European Union leaders agreed to a phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai, which could bolster demand in an already tight market. Oil benchmarks have marched steadily higher for several weeks as Russian shipments are squeezed by …

The world’s first liquefied natural gas (LNG)-powered support vessels equipped with four sets of intelligent systems were delivered in Nantong City, Jiangsu Province on Saturday. The shipbuilder told China Media Group (CMG) that the vessels were solely designed and built in China, marking a milestone the country’s green and digital …

Chinese oil company Sinopec Overseas Oil and Gas Limited (SOOGL) and Algeria’s oil giant Sonatrach signed here on Saturday a 490-million-U.S. dollars contract on oil and gas exploration in Algeria’s Zarzaitine field, some 1,500 km southeast of Algiers. According to a joint press release by the two companies, SOOGL and …

While Europe shuns Russian oil amid sanctions and expectations of an oil embargo on Russian oil imports, India and China have stepped up purchases and are importing record volumes of Russian crude, according to data from energy analytics company Kpler cited by Bloomberg on Friday. Russia had up to 79 …

The Iraqi Oil Marketing Company “SOMO” announced that the Chinese oil companies are the top buyers of Iraqi oil during April 2022. According to SOMO statistics, 34 international companies bought Iraqi oil the last April. China ranks first with eight companies, followed by India (seven companies), while the USA ranks …

Oil prices fell by more than $1 on Tuesday as concerns over a possible recession and China’s COVID-19 curbs outweighed an expectation of tight global supply and a pick-up in fuel demand with the U.S. summer driving season. Brent crude futures for July fell $1.34, or 1.2 per cent, to …

China tripled investment in solar power projects in the first four months, putting the nation on track to install record amounts of new clean energy capacity. Investment in solar was 29 billion yuan ($4.3 billion) from January through April, about 204% higher than in the same period a year earlier, …

Oil was up on Monday morning in Asia as the U.S. peak driving season sees higher demand. Brent oil futures gained 0.63% to $110.71 by 12:26 AM ET (4:26 AM GMT) and crude oil WTI futures jumped 0.54% to $110.88. “Oil prices are supported as gasoline markets remain tight amid …