China has launched the construction of a national petroleum reserve base in northwest China’s Gansu Province.
The reserve base, located in Yongdeng County of Lanzhou City, has a capacity of three million cubic meters, said an official with Lanzhou Petrochemical Company of China National Petroleum Corporation (CNPC).
Construction of the project, which started Tuesday, is expected to [...]
China’s energy firms are reducing gas supplies to industry to avoid having to cut off households this winter, but risking more factory shutdowns, dampening production and raising costs as shortages may worsen.
The shortfalls began this month when heavy snow hit north China, spiking up heating demand and forcing PetroChina to divert south China’s supplies north. [...]
Oil prices climbed more than 5 percent, surpassing $70 a barrel yesterday after a government report said the nation’s gasoline supply dropped unexpectedly and demand increased from last year, the Associated Press reported.
Benchmark crude for November delivery added $3.90 to settle at $70.61 a barrel on the New York Mercantile Exchange. Brent crude rose $3.58 [...]
Start Date
18-OCT-09
End Date
20-OCT-09
Venue
City / State
Country
Dongying International Trade Centre
Dongying
China
Event Profile:
China International Petroleum Equipment & Technology Exhibition (CIPEE) is the first of its kind festival in China and will be one of the important exhibitions in the world. CIPEE will be held at Dongying International Trade Centre from 18 to 20 Oct 2009. There have been more [...]
Sinopec Group has agreed to buy Canadian-listed Addax Petroleum Corp for C$8.3 billion (US$7.2 billion) in a deal which would become China’s largest single overseas oil acquisition.
The takeover would give Sinopec oil reserves from west Africa to Iraq.
Sinopec agreed to make an offer to buy all of Addax Petroleum shares for C$52.80 apiece, the companies [...]
Sinopec Group, the nation’s largest oil refiner, announced Wednesday it would offer 52.8 Canadian dollars (46 U.S. dollars) per share to acquire all the outstanding common shares of Addax Petroleum Corp.
The deal would cost more than 7.2 billion U.S. dollars.
The 52.8-Canadian-dollar offer represents a 47 percent premium over the closing price on the Toronto Stock [...]
