Crude oil fell to the lowest since May 2005 as a recession in the U.S., Europe and Japan cuts global energy consumption.
Oil has declined nearly $100 from its July record as the world economic crisis reduced global demand growth to its weakest in 23 years. Crude oil is poised to drop 15 percent this week, [...]
China should encourage the development of electric cars to offset its dependence on imported oil and reduce greenhouse emissions, automakers said.
“We are discussing with the Chinese government about our electric car plan as environmental issues are becoming a critical issue in China,” Yasuaki Hashimoto, president of Nissan Motor (China) Ltd said at the Guangzhou auto [...]
China’s oil imports will account for almost 75 percent of its total oil consumption by 2030, according to the International Energy Agency (IEA).
The Paris-based adviser to 28 oil-consuming nations also predicted that primary world energy demand would grow by 1.6 percent annually between 2006 and 2030 with a total increase of 45 percent. China and [...]
Chinese stocks rebounded on Wednesday, led by oil refiners on hopes that the introduction of a fuel tax in China would lead to higher gasoline prices and improve their refining margins.
Sinopec (600028.SS: Quote, Profile, Research, Stock Buzz), the biggest refiner, surged 8.67 percent to 8.27 yuan in heavy trade and PetroChina (601857.SS: Quote, Profile, Research, [...]
Oil fell for a second day in New York on signs the global slowdown is limiting demand in China and Japan, the world’s second- and third-largest crude users.
Japan entered the first recession since 2001 as its gross domestic product fell an annualized 0.1 percent in the three months ended Sept. 30 after shrinking 3.7 percent [...]
China and Iraq signed Monday an oil deal that would allow China National Petroleum Corporation (CNPC) to help develop al-Ahdab oil field in eastern Iraq’s Wasit province.
Iraqi Oil Minister Hussein al-Shahristani signed the 2.9 billion U.S. dollars deal with CNPC President Jiang Jiemin in a ceremony held in his ministry.
Tags: CNPC, oil, Oilfield
