China Petrochemical Corp yesterday said the government’s stimulus package will help its business and the company may seek to acquire resources assets overseas amid the financial turmoil.
The oil giant, also known as Sinopec Group, parent of Asia’s biggest refiner, said in a company newsletter that it plans to boost major domestic infrastructure projects.
Tags: Fuel, PetroChina, [...]
Sinopec<600028><386>, Asia’s largest oil refiner, will trim crude processing by 10% in November due to lower fuel demand amid economic slowdown nationwide, sources reported, citing the company’s officials.
Sinopec, which supplies more than 50% of fuel in China, will process around 15 million tons a month, or 3.65 million barrels a day, from November, according to [...]
China Petroleum and Chemical Corp, Asia’s biggest oil refiner, will reduce crude processing by 10 percent this month from July’s record as the nation’s economic slowdown cuts fuel demand, company officials said.
The state-owned refinery, which supplies more than half of China’s fuel, will process about 15 million tons a month, or 3.65 million barrels a [...]
China National Petroleum Corp (CNPC), parent of the country’s largest oil and gas producer PetroChina<601857><857>, has signed a 20-year oil service deal with Iraqi state-owned oil company North Oil to help develop the al-Ahdab oilfield in eastern Iraq’s Wasit province, according to sources.
Iraqi Oil Minister Hussein al-Shahristani and CNPC president Jiang Jiemin attended the signing [...]
The government’s economic stimulus package will have a positive effect on the oil sector, analysts said.
If China succeeds in keeping economic growth above 8 percent in 2009, China’s oil demand could continue to grow. This means the potential for huge profits for domestic refiners, especially since the plunge in international oil prices has made domestic [...]
PetroChina, Asia’s top oil and gas firm, will keep investments steady next year, despite the backdrop of a worsening economic crisis, the firm’s chief said on Saturday.
Jiang Jiemin, speaking on the sidelines of a National Oil Company Forum in Beijing, echoed the views of many other top executives from state-owned energy firms when he said [...]
