Sinopec's Q3 profits fall by 52.1% due to lower oil prices and refining margins
Sinopec, a Chinese refiner, reported a 52.1% drop in its net profit year-on-year to $8.54 billion yuan (US$1.2 billion) during the third quarter due to lower oil prices. Sinopec, the world's biggest refiner based on capacity, reported 790.4 billion Yuan in revenue for its third quarter…
Andy Home: Zinc concentrations are squeezed but metal is not in short supply
The global zinc mine production is continuing to decline and raw material shortages are now beginning to affect China, in particular. The 14 Chinese smelters that account for 70% of China's refined Zinc production agreed to postpone new capacity…
Andy Home: Zinc concentrations are squeezed but metal is not in short supply
The global zinc mine production is continuing to decline and raw materials are now beginning to squeeze, especially in China. In an effort to maintain operating margins, a group of 14 Chinese zinc smelters that accounts for 70% of the country’s…
Sinopec Gets Weirong Green Light
China's Sinopec has received approval from the ministry of natural resources to develop shale gas at the Weirong gas field in the southwestern province of Sichuan, the refiner said on Tuesday.The company plans to build 166 wells at the gas field…
China Aims to Boost Natural Gas Production
Following several years of natural gas consumption outpacing local production growth, China is introducing incentives to spur several forms of domestic production in hopes of reducing its reliance on imports.China’s natural gas imports, both by pipeline and as liquefied natural gas (LNG)…
Sinopec Resumes Production at Sichuan Gas Processing Unit
China's Sinopec Corp last month resumed production at a key natural gas processing plant in southwestern Sichuan province after a planned maintenance, the parent company of the state oil and gas group said on Tuesday.By August-end, Sinopec had completed…
BP Plans to Exit China's Shale Gas
European oil major BP plans to exit from two production sharing contracts (PSC) for projects drilling for shale gas in the southwestern Chinese province of Sichuan, three sources with the knowledge of the matter said this week.BP is the last of the international oil majors…
Sinopec to Develop Weirong Shale Gas Field
Sinopec Corp, China's biggest shale gas operator, said on Monday it plans to develop a new field this year able to produce 1 billion cubic meters (bcm) of shale gas annually.The state-run company said the field will tap a proven reserve equivalent…
Changing Shale Field to Boost Gas Output
China's Changning shale gas field in southwestern Sichuan province will more than double its output during the winter heating season after putting new wells into operation, China's top oil and gas group CNPC said on Wednesday.Daily output at the field, which began operating in 2015, is expected to reach
China to take action against 'uncontrolled' hydro on Yangtze
China's has urged local governments along the Yangtze river to survey the environmental damage done by the "uncontrolled" development of small-scale hydropower, warning that some plants could be closed, according to a government notice on Wednesday.Local…
Sinopec to Double LNG Capacity, Boost Shale Ops
China's Sinopec group, parent of Sinopec Corp, aims to more than double its receiving capacity of liquefied natural gas over the next six years and lift domestic shale gas production by two thirds by 2020. The plans are part of the state energy…
Delfin Taps China for US FLNG, but Final Investment Decision 'Challenging'
Delfin Midstream, developing the first floating facility to export U.S. natural gas, has sealed a preliminary 15-year sales deal with city gas distributor China Gas Holdings, Delfin founder and Chief Executive Officer Frederick Jones said. But industry…
China LNG Plant Reopened to Meet Winter Demand
Kunlun Energy Co Ltd has resumed or was in the process of resuming production at seven liquefied natural gas (LNG) plants, including China's largest, to meet upcoming winter demand, its parent PetroChina said on Tuesday. The biggest plant, located in Huanggang in central Hubei province…
BP, CNPC Ink Second Chinese Shale Gas Deal
BP today announced that it has signed a second production sharing contract (PSC) for shale gas exploration, development and production with China National Petroleum Corporation (CNPC). The PSC, signed on 27th July, covers an area of approximately 1…
Sinopec to Sell Gasline Unit Stake
China's Sinopec Corp said on Tuesday it would sell half of its premium natural gas pipeline business to investors, a move spurred by Beijing's reform push to boost efficiency and increase infrastructure investment in cleaner fuel. Sinopec, the country's second-largest oil and gas group…
BP, CNPC Ink BP’s Gas Production Sharing Contract
BP and China National Petroleum Corporation (CNPC) today signed a production sharing contract (PSC) for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan Basin, China. Witnessed by BP Group Chief Executive Bob Dudley and CNPC Chairman Wang Yilin…
Canada's Liard Basin Among World's Biggest Shale Gas Plays
Northwest Canada's remote Liard Basin is the world's ninth largest shale gas resource, according to a new assessment released by Canadian regulators on Wednesday, although it may take years to develop given depressed global energy prices. The basin…
Chevron Hits First Gas with Chuandongbei
Chevron Corporation announced today that its fully-owned subsidiary Unocal East China Sea, Ltd. began natural gas production from the first stage of the Chuandongbei Project in southwest China. Chuandongbei is one of the largest onshore gas projects…
PetroChina-Chevron Sour Gas Project Begins Production
PetroChina and Chevron began production at an onshore natural gas field in China's southwest at the end of 2015, PetroChina's parent said on Monday, after years of delays. The Luojiazhai field, whose 'A' well began operating on Dec. 30, has an annual production capacity of 3 billion cubic metres of gas…
Kenya Coal Power Plant Delayed
A plan to start building Kenya's first coal-fired power plant in October has been delayed as the consortium involved awaits a government plan to resettle people on the coastal site, the group's chief executive said on Monday. The Kenyan and Chinese venture plans to build the 1…
