China has started building the Lanzhou strategic oil reserve base in northwestern Gansu province after kicking off construction on Dushanzi state oil tanks in Xinjiang in September, part of China’s second phase of its strategic oil stockpiling plan.
Officials from the National Development and Reform Commission (NDRC), the National Energy Administration, top oil firm CNPC and [...]
Energy giant PetroChina Co Ltd has pulled out of a US$40 billion deal to buy natural gas from a project off Australia, leaving Woodside Petroleum Ltd looking for new customers.
PetroChina said yesterday it exited the contract mainly because the Australian energy company was not able to supply liquefied natural gas on time, China Radio International [...]
China National Petroleum Corp (CNPC), along with companies from South Korea and the United Arab Emirates (UAE), has won contracts worth $9.7 billion to develop a large natural gas field in Turkmenistan.
The consortium, comprising of CNPC, South Korea’s LG International Corp and Hyundai Engineering Co, and the UAE’s Gulf Oil & Gas Fze and Petrofac [...]
PetroChina has won approval to buy a stake in two Canadian oil-sands projects in its biggest North American acquisition.
China’s largest oil producer will pay US$1.8 billion to buy a 60 percent stake in MacKay River and Dover oil-sands projects of Athabasca Oil Sands Corp, Canadian Industry Minister Tony Clement said in a statement yesterday.
“To successfully [...]
Brazil’s State-owned oil and gas conglomerate Petrobras on Wednesday signed a Memorandum of Understanding (MOU) with the Chinese oil giant PetroChina to assess the technical and economic feasiblity of launching ethanol production projects in Brazil.
According to the document, projects of ethanol production in Brazil would be developed in partnership between PetroChina and Petrobras’subsidiary, Petrobras Biofuels [...]
The burgeoning demand for liquefied natural gas (LNG) in China has opened a new window for domestic shipbuilders, who are now charting plans to build more LNG carriers to transport the fuel.
The demand surge has been necessitated as winter power demand has already sapped much of the existing LNG supplies.
Leading gas supplier PetroChina had in [...]
