Russia signed a pipeline deal with China on Tuesday to create a new overland supply route for Siberian oil as the two countries negotiate a package of export-backed Chinese loans expected to exceed $20 billion.
Russian pipeline monopoly Transneft (TRNF_p.MM: Quote, Profile, Research, Stock Buzz) and China National Petroleum Corp (CNPC) agreed to build a spur [...]
China Petroleum & Chemical Corp. and PetroChina Co., the nation’s biggest oil companies, will probably post smaller refining losses in the third quarter after crude prices fell from July’s record.
Operating losses at China Petroleum’s refining division may narrow 42 percent to 34.4 billion yuan ($5 billion) in the third quarter from the April-to-June period, said [...]
China National Petroleum Corp., the nation’s top oil producer, plans to issue 20 billion yuan ($2.9 billion) worth of bonds to buy shares in listed unit PetroChina Co. and fund overseas exploration projects.
The bonds will be issued on Nov. 3, the Beijing-based state oil company said in a statement on the official Chinabond Web site [...]
China Petroleum and Chemical Corp (Sinopec)<600028><386>, Asia’s largest oil refiner, will launch a petrochemical complex project in Hangzhou, capital of eastern China’s Zhejiang province, according to its parent Sinopec Group.
Under a strategic cooperation agreement between Sinopec and the Hangzhou municipal government, Sinopec will build a petrochemical complex including a refinery to produce paraffin and lube, [...]
PetroChina Company Limited will increase its investment in its oil and gas business from 60 to 70 percent in 2009, said company chairman Jiang Jiemin on Tuesday.
PetroChina’s losses during the global financial crisis are “limited and under control”, Jiang told reporters after a shareholders meeting. He said it’s because the company has focused the majority [...]
China National Petroleum Corp., the nation’s largest oil producer, signed an accord with Uzbekistan’s state oil company to jointly develop an oilfield in the central Asian country.
The field has “explorable reserves” exceeding 30 million metric tons and is expected to have an annual output capacity of 2 million tons, or 40,000 barrels a day, the [...]
