NovatekNovatek Gas & Power Asia Pte. Ltd., wholly owned subsidiary of Russia’s gas major Novatek, a and Zhejiang Energy Gas Group Co., Ltd, a subsidiary of the Zhejiang Provincial Energy Group have signed a long-term LNG sale and purchase agreement for the LNG produced from the Arctic LNG 2 project. …
Read More »Three Gorges Hydropower Station Generates over 100 bln kWh of Electricity in 2021
The Three Gorges Hydroelectric Power Station on China’s Yangtze River has generated 103.6 billion kWh of electricity in 2021, according to the China Three Gorges Corporation. The clean energy it produced is estimated to be equivalent to the electricity generated by 31.8 million tonnes of standard coal, respectively reducing carbon …
Read More »Output of China’s Bohai Sea Oil Field Reaches over 30m Tons, Largest in the Nation
The annual crude oil output of China’s Bohai Sea oil field reached 30.132 million tons in 2021, accounting for one seventh of the nation’s overall annual crude oil output and becoming the country’s largest oil field, the Xinhua News Agency reported on Sunday. The Bohai Sea oil field is operated …
Read More »Iraqi Oil Exports to China Decreased by 49,6% in December 2021
The Chinese customs department revealed that Iraq’s oil export to China had dropped in December 2021. The department’s statist showed that Iraq’s oil export decreased by 49,6% reaching 3.826 million barrels. However, the exports were up by 79.7% from the same month last year (2.130 million barrels). Iraqi oil export …
Read More »China LNG Demand to Peak in 2022
After reaching around 124 billion cubic metres (bcm) this year, Fitch forecasts LNG import volumes to fall year-on-year up until 2025, hitting an annual low of 114 bcm that year, before growth flips back into positive territory. “Several factors are at play. On the one hand, demand growth – while …
Read More »China to Remain Renewable Energy Leader with Strong Capacity Growth in 2022, despite Subsidies Phase-Out
China will continue to be the global leader in renewable energy capacity growth over the next five years, despite phasing out renewable subsidies and the country’s heavy reliance on coal, which will remain unchanged in 2022, according to analysts. The global renewable energy sector saw strong growth in the past …
Read More »China’s Artificial Sun Hits New High in Clean Energy Boost
China has made a new breakthrough in its quest for clean fusion energy, as one of its “artificial suns” set a new record in sustained high temperatures, according to state media. The Experimental Advanced Superconducting Tokamak (EAST), a nuclear fusion reactor research facility, ran at 70 million degrees Celsius for …
Read More »China Cuts First Batch of 2022 Crude Oil Import Quotas by 11Percent
China has issued its first batch of 2022 crude oil import quotas at a volume 11per cent below 2021’s first allotment, according to industry sources and a document reviewed by Reuters, with large private firms winning out over smaller processors, Global oil prices pared gains following the drop in import …
Read More »China’s Risen Plans $7 Billion Solar Factory Run on Clean Energy
Risen Energy Co. is planning to build a 45 billion yuan ($7 billion) integrated solar power factory in Inner Mongolia that’ll run on clean energy. The plant will produce materials across the supply chain from industrial silicon to finished solar modules, the company said in a Dec. 27 filing with …
Read More »China Oil Demand to Peak by 2030 on Petrochemical Use
China’s oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tonnes per year by 2030, a research institute affiliated with China National Petroleum Corp (CNPC) said on Sunday. Last year, the research group, called the CNPC Economics & …
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