China, the world’s second-biggest energy consumer after the U.S., cut diesel and gasoline imports in August from a record as higher domestic prices spurred oil refiners to boost fuel supplies.
Diesel imports fell to 880,000 metric tons from 970,000 tons in July and gasoline purchases declined to 382,151 tons from 606,000 tons, the Customs General Administration [...]
China has ordered a halt to projects that use coal to make oil as the nation seeks to conserve its supplies of the fuel for power generation.
All coal-to-fuel projects must suspend operations, the Ningxia Hui Autonomous Region Development and Reform Commission said in a statement on its Website.
Shenhua Group Corp’s plants in Inner Mongolia and [...]
Air China Ltd, the nation’s largest international carrier, reported a 21 percent drop in first-half profit and China Eastern Airlines Corp posted a loss after fuel prices doubled and natural disasters disrupted travel.
Air China’s net income slipped to 1.24 billion yuan (US$181.07 million) from 1.57 billion yuan a year earlier, it said in a Shanghai [...]
China Shipping Container Lines Co., the country’s second-largest cargo-box carrier, said first-half profit dropped 45 percent after fuel costs surged and the global economic slowdown stunted demand.
Net income fell to 637.2 million yuan ($93 million), or 0.05 yuan a share, from a restated 1.16 billion yuan, or 0.12 yuan, a year earlier, the Shanghai-based company [...]
Air China Ltd, the nation’s largest international carrier, reported a 21 percent drop in first-half profit and China Eastern Airlines Corp posted a loss after fuel prices doubled and natural disasters disrupted travel.
Air China’s net income slipped to 1.24 billion yuan (US$181.07 million) from 1.57 billion yuan a year earlier, it said in a Shanghai [...]
Cnooc Ltd.’s first-half profit growth may be double that of Exxon Mobil Corp. and Royal Dutch Shell Plc after China’s third-largest oil company increased its crude reserves and output amid record prices.
Net income probably climbed 52 percent to 22.1 billion yuan ($3.2 billion), according to the median estimate of five analysts surveyed by Bloomberg News. [...]
