The Sweet Crude Oil future price has continued to drop on the New York Mercantile Exchange (NYMEX) and the departments in charge of oil pricing in many of China’s cities in China have declared that the price of oil will not change. But late last Monday, Beijing’s Municipal Commission of Development and Reform issued a [...]
The Beijing municipal authorities have raised pump prices by up to 4 percent to cover the cost of cleaner fuel.
From Tuesday, gasoline prices in Beijing have gone up by 200 yuan ($29.18) per ton, or more than 2 percent, with the quantum of the increase depending on fuel quality.
Tags: Gas, PetroChina, Sinopec
Sinopec Group has agreed to buy Tanganyika Oil Co for C$2.07 billion (US$2 billion), the Canada-based company said yesterday.
Tanganyika, listed in Toronto and Stockholm, said its board has unanimously recommended Sinopec’s offer of C$31.50 a share for all the 65.615 million shares outstanding, as it represents a “substantial premium” to its recent prices.
The offer is [...]
China Petroleum & Chemical Corp (Sinopec)<600028><386>, Asia’s largest oil refiner, is likely to beat India’s Oil & Natural Gas Corp (ONGC) in a US$1 billion-plus bid for Canada’s Tanganyika Oil, as ONGC has indicated it has no intention to raise its offer, the South China Morning Post reported on Monday, citing market sources as saying.
Tanganyika [...]
Foreign financial agencies are eager to play a role in China’s coal industry, as the world’s No.1 coal producer looks to diversified sources to finance the fast-expanding industry.
As the world’s No.1 producer and consumer of coal, China needs more energy, especially coal, to fuel its booming economy.
“The central bank would continue to encourage coal companies [...]
PetroChina Co., the nation’s second-largest oil refiner, started construction of an 8.2 billion-yuan ($1.2 billion) oil refinery in western China’s Ningxia province to tap rising demand.
The refinery will process 5 million metric tons of crude a year into products including 1.7 million tons of gasoline, 2.38 million tons of diesel and 210,000 tons of liquefied [...]
