Crude oil rose more than US$2 a barrel and gasoline climbed to a record on BP Plc’s plans to shut down a North Sea pipeline, plunging Nigerian output and after a ship carrying United States cargo fired warning shots at Iranian boats.
BP shut the Forties Pipeline System over the weekend because of a two-day strike [...]
Sinopec Shanghai Petrochemical Co, China’s largest ethylene maker, posted a loss in the first quarter because government controls on fuel prevented the refiner from raising prices as crude costs soared.
The firm made a loss of 200 million yuan (US$29 million), or 0.028 yuan a share, versus a profit of 1.07 million yuan, or 0.148 yuan [...]
China Petroleum and Chemical Corporation (Sinopec), China’s largest oil refiner, announced Sunday that its net profits slumped 65.78 percent in the first quarter from the same period of last year, and were only kept in the black by a 7.4 billion yuan government subsidy.
The 6.7 billion yuan net profit came after Sinopec got 7.4 billion [...]
The Australian Resources Minister Martin Ferguson said here on Sunday that no Chinese companies had been told to withdraw investment applications to buy into Australian resources companies.
Ferguson said that while a rigorous national interest test would be applied to such applications, state-owned Chinese firms were not being treated differently.
Tags: investment
Hong Kong’s new mortgage loans drawn down in March rose 12.3 percent to 20.6 billion HK dollars ( 2.65 billion U.S. dollars), while new loans approved grew 5.2 percent to 24.7 billion HK dollars (3.17 billion U.S. dollars), Hong Kong Monetary Authority said here Friday.
According to the 23 authorized institutions that participate in the authority’s [...]
Ningbo Free Trade Zone (NFTZ) was one of fifteen free trade zones approved by the State Council since 1990 and is now over 15 years old.
Xia Qun, vice-director of Administrative Committee of NFTZ, said,’In 1992, the State Council approved the setup of the NFTZ; in 2002, the State Council approved Ningbo Export Processing Zone, and [...]
