China Cash Boosts African FLNG Projects
China aims to become lowest-cost seller of FLNG plants; its shipyards to build floating plants for African projects. China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested technology in the hope that energy markets will recover by the time they start production in the early 2020s. Western banks are wary due to the depressed state of the shipping and gas markets…
Oil Traders who know China, with good heads for liquor
Over 40 traders, others hired away from major Chinese firms. Chinese independent oil companies are luring traders, marketers and risk managers away from dominant state behemoths, offering better pay and perks in a hiring spree triggered by the freeing up of China's crude import trade. Global oil firms and commodity houses have also been raiding state giants such as Sinochem and…
China State Shipbuilding, CNPC Among 11 Caught in Auditor Snare
China's National Audit Office has found irregularities at 11 state-owned conglomerates ranging from misrepresentation of assets to illegal property development, highlighting the challenges the government faces in overhauling the public sector. China National Petroleum Corp (CNPC), the parent of PetroChina Co Ltd , China Resources (Holdings) Co Ltd, the parent of 10 companies listed in Shanghai and Hong Kong…
China Inc Joins the Big League in Oil and Gas Services
Global oil companies are increasingly turning to China for services and equipment, attracted by lower costs and a newly acquired expertise that is challenging more established rivals. State-run and privately controlled Chinese rig makers, oil and gas services and engineering firms are showing up in the supply chain everywhere from the Middle East, the North Sea and North America to frontier areas like Mozambique.
