PetroChina<601857><857>, the nation’s top oil producer, is reportedly considering building the third natural gas pipeline from the country’s west to the east to meet the growing demand for the fuel in the affluent coastal regions, said sources.
The planned west-east pipeline is likely to start from Xinjiang region in the west and end at Fujian province, [...]
China Petroleum and Chemical Corporation (Sinopec Corp) is expecting a loss in its August chemical production after reporting huge refining losses.
Soaring naphtha prices and fierce market competition were behind the loss, an insider with the Sinopec Group, parent of Sinopec Corp, told Xinhua on Monday.
The company reaped little profit from its July chemical production, which [...]
China Petroleum and Chemical Corporation (Sinopec Corp) is expecting a loss in its August chemical production after reporting huge refining losses.
Soaring naphtha prices and fierce market competition were behind the loss, an insider with the Sinopec Group, parent of Sinopec Corp, told Xinhua on Monday.
The company reaped little profit from its July chemical production, which [...]
China’s state-owned oil companies are likely to stop imports of refined products such as diesel and petrol next month after a nine-month buying spree that has left stockpiles overflowing, one of Asia’s largest refiners said.
“Since China started whipping up imports in November last year, 25 per cent to a third of our diesel exports have [...]
PetroChina Co. Ltd, China’s largest oil and gas producer, will acquire a 51.89% stake in CNPC (Hong Kong) from its parent China National Petroleum Company (CNPC) for HK$7.59 billion (US$972 million), market sources reported.
Under the agreement, the Beijing-based PetroChina will settle the transaction in cash.
The move is aiming to further expand the company’s gas business [...]
China National Petroleum Corp and two other firms directly controlled by the central government had underreported profit by more than 7 billion yuan , the official Xinhua news agency reported on late Wednesday.
The report did not specify for which period the false statement occurred, nor did it disclose the amount of understatement by each company.
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