PetroChina, the country’s largest oil producer, signed an agreement to buy assets from its parent China National Petroleum Corporation (CNPC) for RMB 43.8 million, sources said.
Under the terms of agreement, PetroChina will purchase assets of Northeast China Inspection and Maintenance Operations from CNPC.
Tags: CNPC, Gas, LNG, PetroChina, Petroleum
Huaneng Group, parent of China’s largest electricity producer Huaneng Power International Inc, settled its first biomass power plant in Changchun, Northeast China’s Jilin province, with an initial investment of RMB 300 million (US$42.84 million).
The plant, which is scheduled to commence operation by August 2009, has an installed capacity of 50,000 kw, with a designed electricity-making [...]
China’s Juneyao Group, China’s privately-owned conglomerate, aims to list its airline arm in 2010, sources citing Wang Junhao, the group’s vice-chairman as saying.
Shanghai-based Juneyao Air, which started operation in September 2006, is one of China’s leading privately owned carriers, offering services in 27 regional routes. It raked in a net profit of RMB 18 million [...]
Chinese Premier Wen Jiabao and the European Union Commission President Jose Manuel Barroso announced the start-up of Sino-EU high-level economic and trade dialogue on Friday at a press conference in Beijing.
During the two-hour talks, a series of agreements have been reached by the two sides on issues such as continuing to boost Sino-EU comprehensive strategic [...]
Baosteel Group Corp, China’s biggest steel maker, may sell shares in New York, London or Hong Kong to help raise 60 billion yuan (US$ 8.6 billion) to increase capacity by a third in the world’s fastest-growing major economy.
Baosteel may seek to raise 30 billion yuan through loans and stock sales for the Zhanjiang project in [...]
China will have to consider reducing purchases of iron ore from India if Indian suppliers do not moderate their “over-reliance” on spot sales, according to Luo Bingsheng, executive vice chairman of the China Iron and Steel Association.
“Last year India’s spot sales to China led to additional costs of 838.3 mln usd for Chinese steel makers,” [...]
