New Chairmen at Three Chinese Oil Firms
China has appointed new chairmen for the country's top three energy groups, according to company statements on Monday, in a top-down reshuffle of the industry which faces the challenges of spending cuts, low oil prices and easing demand.
Sinopec: Long Wait for $100 Oil to Return
Asia's largest refiner, Sinopec Corp, said on Monday it expects prolonged weakness in global oil prices, forcing it to cut spending and turn more cautious about acquisitions. "This year's oil prices won't be high.
China Uncovers Power Abuses, Nepotism at Sinopec
China's anti-corruption watchdog said on Saturday that it had uncovered evidence of graft at China Petrochemical Corp (Sinopec Group), warning the state-owned oil giant to take strong action to eradicate kickbacks, nepotism and theft.
China Shale Drilling Costs Expected to Fall
State-run oil company Sinopec Corp said on Monday it expects shale drilling costs in China to drop to $50 million per well from $80 million in three to five years. Chairman Fu Chengyu was speaking at the firm's…
Sinopec Plans $1.5 bln spend To Boost Energy Efficiency
Asia's top refiner Sinopec plans to spend some four billion yuan ($644.23 million) on more than 800 projects in 2014 as part of a strategy to double its energy efficiency in 10 years, local media reported on Friday.
