China National Petroleum Corp. said it has discovered oil and natural gas in two blocks in Kazakhstan as the biggest Chinese oil producer steps up exploration to meet rising domestic demand for energy.
PetroKazakhstan Inc., a unit of China National, made the discoveries in the Karaganda and Doshan blocks, the Beijing- based company said in a [...]
China National Petroleum Corp. (CNPC), the country’s largest oil producer, is mulling over increasing its portfolio in the urban gas distribution sector.
CNPC, also the country’s leading company in natural gas production and transportation, said it would use its dominance role in domestic gas production and supply upstream business to further develop its gas retail operation, [...]
Shanghai stocks yesterday climbed over 1 percent, led by energy-related companies after crude oil traded at US$119 a barrel, the lowest since early May.
The benchmark Shanghai Composite Index added 28.62 points, or 1.06 percent, to close at 2,719.37. Gainers outnumbered losers 494 to 338 and 75 remained unchanged. Turnover fell to 41.13 billion yuan (US$6 [...]
China will import less transport fuel in the month of the Olympics as domestic refiners raise output to ensure stable supply and as stockpiling slows amid a drop in crude oil prices, a Reuters survey showed.
The country will import 530,000 tonnes of diesel for August, almost 40 percent below last month’s 860,000 tonnes, trade estimates [...]
PetroChina Co Ltd will release official gas reserve estimates for Longgang field in southwestern China’s Sichuan province in October, the China Business News reported.
The paper quoted a company official as saying that the field, situated on the boundary between the three counties of Yilong, Yingshen, and Pingchang, holds at least 300 bln cubic meters of [...]
China’s top oil producer, PetroChina, announced its shareholders had agreed at a Thursday board meeting to issue up to 60 billion yuan (8.6 billion U.S. dollars) of corporate bonds on the mainland market.
The move was intended to “satisfy the operational needs of the company, further improve its debt structure, reduce financing costs and supplement working [...]
