Europe generated almost 18% of its electricity by wind and solar last year, while China, India and the US were all above the global average of 8%, according to a new report.
Read More »Mercedes-Benz Buys 3% Stake of Chinese Battery Cell Manufacturer
The luxury car manufacturer will also support a new battery cell plant in Germany, which will be carbon-neutral from the start of its construction.
Read More »China’s Era of Mega-Dams Is Ending as Solar and Wind Power Rise
It’s the beginning of the end for the era of mega-dam building in China. China Three Gorges Corp. on Monday turned on the first set of generators at the massive Wudongde hydropower plant, deep in the mountains of Yunnan province. About 170 kilometers (106 miles) downstream on the Jinsha River …
Read More »China, Russia to Test Crude Oil Transport via Railways
China and Russian will begin to transport crude oil via a bilateral freight train service from July, an executive of JSC Russian Railways said at an industry seminar on the future of railway freight train service between China and the Europe on Tuesday. The new form of energy transport is …
Read More »CNOOC Announces Significant South China Sea Discovery
CNOOC Limited has made a significant discovery of Huizhou 26-6 in Eastern South China Sea. It is expected to become the first mid-to-large sized condensate oil and gas field in the shallow water area of Pearl River Mouth Basin. The Huizhou 26-6 structure is located in Huizhou Sag in Zhu1 …
Read More »Coronavirus Resurgence Slows China’s Demand for U.S. Crude
A second wave of Covid-19 infections in China’s capital is threatening to depress the nation’s appetite for American oil just after a pick-up in purchases. Signs of weakening demand from the world’s largest oil consumer are now starting to weigh on export prices for American crude, according to industry participants. …
Read More »China Oil Titans Plan Joint Crude Buying to Add Bargaining Power
China’s state-owned oil refining giants are in discussions to form a purchasing group to buy crude together, increasing their bargaining power and avoiding bidding wars. Senior executives from China Petroleum & Chemical Corp., PetroChina Co., Cnooc Ltd. and Sinochem Group Co. are in advanced talks to iron out details of …
Read More »China’s U.S. Oil Binge Seen Slowing with Virus Revival
A second wave of Covid-19 infections in China’s capital is threatening to depress the nation’s appetite for American oil just after a pick-up in purchases. Signs of weakening demand from the world’s largest oil consumer are now starting to weigh on export prices for American crude, according to industry participants. …
Read More »China Forces Energy Giants to Share in Pipeline Reform Preview
China’s top natural gas buyers have been directed by regulators to share import infrastructure, one of the broadest government efforts yet to enforce reform policies aimed at bolstering energy security and breaking down market barriers between the nation’s three state energy giants. The move comes as the world’s biggest gas …
Read More »Oil Rises after Trump Assurance on China Trade Deal
Oil prices rose on Tuesday after a volatile session sparked by confusion over the status of the U.S.-China trade deal. Markets were unsettled by surprise comments from White House trade adviser Peter Navarro, who said the hard-won deal was “over”, though U.S. President Donald Trump later soothed jangled nerves with …
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