China Petrochemical Corp (Sinopec Group), Asia's largest oil refiner by capacity, is expected to report a more than 100 billion yuan ($15 billion) net profit in 2010, as surging oil prices pushed up its performance in the upstream sector.
PetroChina has halted natural gas shipments to some downstream industrial users in North China this month to guarantee sufficient residential supplies, the National Business Daily reported Tuesday.
Chinese nuclear power developer China National Nuclear Corp (CNNC) and US-based Exelon Corp signed an MOU last week, marking the first step for the top US nuclear power operator to provide nuclear power service in China.
China's overseas crude dependence ratio surpassed 55 percent, the Economic Information reported Monday, citing an industry report.
China Power New Energy Development Co Ltd said it planned to sell 2.8 billion new shares to China Yangtze Power Co, raising HK$2.1 billion ($270 million) to fund its investment in power generating projects.
China Petroleum and Chemical Corp (Sinopec), the nation's largest oil refiner, said on Friday that it processed 211 million tons of crude oil in 2010, up 13.2 percent year-on-year.
China Resources Power Holdings Co (CRP) said it's seeking to buy a controlling stake in a coal-mining project in Shanxi province, for about 6 billion yuan ($910 million).
Local political advisors and industry insiders in China's leading rare earth producing regions are pushing the central government to issue a clear national strategy for the industry's development.
China added 12 million barrels of crude to its strategic petroleum reserve over the course of last year, according to Reuters calculations based on figures issued on Thursday by the country's leading oil firm.
China will auction eight shale gas exploration blocks in the first quarter of this year, two more than first planned and months later than originally scheduled for November last year, a ministry official said on Thursday.
China's apparent natural gas consumption is expected to grow by 22.6 percent in 2011 from 106 billion cubic meters (cu m) in 2010. That's because domestic consumption of the clean fuel is set to surge in accordance with the country's need to reduce carbon emissions.
China is on track to play a leading role in the green sector, as more Chinese companies in the sector are investing in the United States and creating jobs.
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