China National Petroleum Corp (CNPC) and China Petroleum &Chemical Corporation (Sinopec), the country’s leading oil and gas producers, began to heat up wholesale prices of refined oil following the rebound of crude oil prices in the international marketplace.
Between Feb. 20 and Feb. 22, wholesale prices of diesel and gasoline rose more than 100 yuan ($14.64) [...]
The country’s petrochemical industry may see a 13 to 15 percent year-on-year growth in turnover this year, thanks to the economic recovery, an industry association said yesterday.
Full-year profit for the sector will rise 8 to 10 percent, according to China Petroleum &Chemical Industry Association (CPCIA).
“The solid rebound in the petrochemical industry is mainly due 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. [...]
The National Development and Reform Commission decided to raise retail gasoline and diesel prices again from Nov 10.
Ironically, as soon as the decision was announced, service stations including those under Sinopec and China Petroleum have all cut their prices to attract customers.
Following a new pricing system, domestic fuel prices will be adjusted when the moving [...]
An 18.3-billion-yuan (US$2.7 billion) petrochemical complex in north China will start production by the first quarter of next year, top Asian refiner Sinopec Corp and Saudi Basic Industries Corp said yesterday.
The project in Tianjin will be run by a 50-50 joint venture that was set up by the two companies last year.
It will be capable [...]
China Petroleum and Chemical Corp, also known as Sinopec, has signed a preliminary agreement with Exxon Mobil Corp to buy 2 million tons a year of liquefied natural gas from the United States energy giant’s project in Papua New Guinea.
The two firms are working together to finalize a binding sale and purchase agreement by this [...]
