China Petroleum & Chemical Corp. and PetroChina Co., the nation’s biggest oil companies, will probably post smaller refining losses in the third quarter after crude prices fell from July’s record.
Operating losses at China Petroleum’s refining division may narrow 42 percent to 34.4 billion yuan ($5 billion) in the third quarter from the April-to-June period, said [...]
China increased crude-oil imports to a record last month, taking advantage of falling prices, as domestic refining capacity climbed.
Crude imports surged 46 percent to 20 million metric tons or 4.87 million barrels a day in September from a year earlier, according to Bloomberg News calculations based on figures provided by the country’s Customs administration on [...]
The Sweet Crude Oil future price has continued to drop on the New York Mercantile Exchange (NYMEX) and the departments in charge of oil pricing in many of China’s cities in China have declared that the price of oil will not change. But late last Monday, Beijing’s Municipal Commission of Development and Reform issued a [...]
Hong Kong-based investment company China Oil Resources Holdings Ltd<850>, formerly known as Wing Shing International Holdings Ltd, announced that it has agreed to acquire a 43% stake in Profit Success Industries Ltd, a paint, resin, dye and thinner wholesaler, from Mr. Chan Wan Kim, for HK$63 million.
Tags: crude-oil, investment, oil
China’s crude oil imports amounted to 15.65 million tons in August this year, representing a rise of 11.4% from 14.04 million tons a year earlier, or about 3.7 million barrels per day, according to statistics from the General Administration of Customs.
In the corresponding period, China imported 3.34 million tons of oil products, compared with 2.53 [...]
An overnight fall in the crude oil price on the New York Mercantile Exchange (NYME) is a good news for China’s economic development and its industries, market analysts said.
The price of oil plunged more than $5 on the NYME on Tuesday after producers said Hurricane Gustav had wrought less damage than feared to Gulf of [...]
