China’s crude oil imports jumped 25 percent last month from a year earlier as state refiners boosted production to meet higher demand in the southwestern regions affected by the May 12 earthquake.
Crude imports rose to 16.2 million metric tons in May, or about 3.8 million barrels a day, the Customs General Administration of China said [...]
Global oil production fell for the first time in five years in 2007 and reserves also declined as prices rose to records, BP has said in its annual Statistical Review of World Energy.
Crude oil production dropped 0.2 percent to 81.533 million barrels a day last year, from 81.659 million barrels a day in 2006, the [...]
Chinese ambassador to the World Trade Organization (WTO) Sun Zhenyu expressed on Monday serious concerns about the continuous depreciation of the US dollar and urged the United States to stabilize the currency.
The continued depreciation of the dollar “aggravated the inflation pressure worldwide and further added fuel to the rapid increase of the crude oil and [...]
Energy ministers from Japan, the United States, China, India and South Korea agreed on Saturday to adopt comprehensive measures to deal with the current rocketing crude oil prices.
The measures include improving investment environment, strengthening energy saving efforts, expanding oil stockpile for emergency use and developing alternative energy forms, according to participating officials at a joint [...]
Taiwan-based Formosa Petrochemical Corp (FPC), Asia’s largest ethylene producer, plans to increase the prices of oil products from Thursday this week, in a bid to secure its earnings amid surging crude oil prices, according to local newspapers.
The private-owned company will raise the prices of gasoline and diesel oil by NTD 1.1 and NTD 1.3 per [...]
China Petroleum and Chemical Corp. (CPCC), the country’s largest oil refiner, said it received 7.1 billion yuan (one billion U.S. dollars) in oil subsidies in April.
Board chairman Su Shulin released the information at the annual shareholder’s meeting on Monday.
Tags: crude-oil, oil, Petroleum, Sinopec
