Tag Archives: China

China’s newest oil refiners are thriving by aligning themselves with President Xi Jinping’s vision, expanding even as their older rivals and several other private businesses have been reined in by Beijing. These newcomers have gained the moniker “Teapot 2.0” in China, and are benefiting because they are fitting into Xi’s …

China has switched from driving global demand for major commodities to being a drag on growth, with July’s customs data confirming the weakening trend for imports of crude oil, iron ore and copper. The exception to the trend was coal, but the sharp gain in July’s imports of the polluting …

The U.S. and Japan expressed concerns over the situation in the South China Sea, where China has been aggressively pushing its territorial claims, and took up Beijing’s nuclear arms issue during talks with ASEAN and partner nations on Friday. Speaking at the foreign ministerial meeting of the ASEAN Regional Forum, …

China started this week construction work on a new US$17-billion nuclear power plant project, for which it will install Russian nuclear reactors at the Xudabao project in northeastern China, World Nuclear News reports. The Xudabao 3 unit is the first of four units at the plant to see the beginning …

Recovering LNG demand, buoyed by China’s record-high LNG imports and low storage levels in Europe will combine to make 2021 a “remarkable year for LNG shipping”, according to a Drewry Maritime Research senior lead analyst Aman Sud. “LNG shipping rates, which started the year on a high are expected to …

The world’s biggest solar company is tapping the hydrogen sector to reduce its global carbon footprint further. China’s Longi Green Energy Technology Co. has set up a stand-alone unit for hydrogen-related equipment and aims to make this clean energy more affordable. “There is no doubt that renewable energy will help …

Oil declined for a third day as the coronavirus spread in Asia, particularly China, continued to threaten demand. West Texas Intermediate futures slumped 1.9%, after retreating 4.6% in the previous two sessions. The delta strain of Covid-19 has been detected in almost half of China’s 32 provinces in just two …

Built to China Classification Society (CCS) rules, Shen Hai Yi Hao has been deployed by field operator China National Offshore Oil Corporation (CNOOC) – China’s largest producer of offshore crude oil and natural gas. CNOOC estimates the Lingshui 17-2’s reserves at about 136Bn cubic metres (bcm) of recoverable gas. CCS …

China’s largest offshore oil producer China National Offshore Oil Corp (CNOOC) on Monday announced that Liuhua 16-2 oilfield cluster, China’s first independent deepwater oil and gas project, is now in full-throttle production in the South China Sea. CNOOC hailed the new progress at Liuhua 16-2 oilfield cluster as another major …

Amid all the talk of global warming, climate change-induced catastrophes, decarbonization and green finance, the global trade in “dirty” coal is enjoying an ironic renaissance. Bulk ships are busy transporting coal to Asia — and to eco-conscious Europe — boosting freight income for some of the very shipowners who publicly …