Latest news
China: CNOOC net profit jumps 29% in 2011
China National Offshore Oil Corporation Limited (CNOOC), the country’s top offshore oil producer, announced a 29% jump in its 2011 profit, posting a record-high of 70.26 billion yuan (11.17 billion U.S. dollars), compared with 54.41 billion yuan in the previous year, mainly due to increasing oil and gas prices.
read more... 29/03/2012
China installed a record 18000 megawatts of new wind capacity in 2011
According to the Earth Policy Institute (EPI), China installed a record 18,000 megawatts of new wind capacity in 2011, raising its total capacity to nearly 63,000 megawatts and spreading its lead in the global wind power sector.
read more... 22/03/2012
Shell and CNPC to jointly explore the Chinese shale gas block
The energy major, Royal Dutch Shell has inked the first-ever production-sharing contract with China’s CNPC in order to explore and produce shale gas from the Fushun-Yongchuan shale gas block in the Sichuan Basin, China.
read more... 22/03/2012
Daily – low economic data from China to spur worries about oil demand
WTi and ICE Brent crude oil futures decreased on Monday ending three consecutive days of gains as low economic data from China increased worries about oil demand. WTi crude oil for April delivery traded at 106.34 dollars a barrel, losing 1.06 dollars after a trading range from 105.38 and 107.56 dollars, while ICE Brent crude for April delivery valued 125.34 dollars a barrel, down 64 cents after having traded between 124.20 and 125.98 dollars.
read more... 13/03/2012
China to end the blind expansion of solar and wind energy in favour of nuclear energy
China is eyeing to speed up the use of nuclear energy and put an end to blind expansion in industries such as solar energy and wind power in 2012, according to the Chinese Premier Wen Jiabao's announcement.
read more... 12/03/2012