China will import less transport fuel in the month of the Olympics as domestic refiners raise output to ensure stable supply and as stockpiling slows amid a drop in crude oil prices, a Reuters survey showed.
The country will import 530,000 tonnes of diesel for August, almost 40 percent below last month’s 860,000 tonnes, trade estimates [...]
China’s Sinopec Yizheng Chemical Fibre Co. Ltd. said it is now in talks with Unifi Asia Holding for buying the shares it doesn’t hold in its joint venture with the latter.
Sinopec Yizheng said in a statement filed with the Shanghai Stock Exchange. The announcement emphasized the possibility for Yizheng to buy out 50% shares of [...]
PetroChina Co Ltd will release official gas reserve estimates for Longgang field in southwestern China’s Sichuan province in October, the China Business News reported.
The paper quoted a company official as saying that the field, situated on the boundary between the three counties of Yilong, Yingshen, and Pingchang, holds at least 300 bln cubic meters of [...]
China Petroleum & Chemical Corp.(Sinopec), the country’s biggest state-owned oil refiner, is bidding for the London-listed Imperial Energy as part of its overseas expansion to secure crude oil supplies for the country, according to sources.
Imperial Energy’s board has allowed Sinopec to start due diligence by giving it access to its data room after an approach [...]
The government may not consider a further boosting of refined oil prices and pricing deregulation until the end of the Olympics in spite of the recent global drop in oil prices.
Speaking to China Daily, experts and industry insiders said the government would not regard the fall in world oil prices as a “window opportunity” for [...]
Shanghai’s key stock index dropped today as coal producers paced the decline on expectations a decline in the price of crude oil will reduce demand for the alternative fuel.
The Shanghai Composite Index lost 0.48 percent, or 13.64 points, to 2,836.67 at 3pm.
Losers in the Shanghai market outnumbered gainers 496 to 317 while 15 did not [...]
