China will continue to implement low-carbon reforms according to the energy regulator
The energy regulator in China said that China would continue to phase out fossil fuels, and reform its electricity system. It issued a paper on Thursday listing achievements, but lacking new plans for China’s energy transition. Zhang Jianhua, the head of China's National Energy Administration, said that China will continue to reform its electric system, expand the market for spot electricity, promote green electricity trade and replace fossil fuels by renewable energy.
China's central Bank will extend the low-carbon loan tool until 2027
China's central banks will extend the programme that provides financial institutions with low cost loans to assist companies in reducing carbon emissions. The government announced this on Sunday. China's State Council announced that the People's Bank of China will extend its policy of supporting carbon-reduction initiatives by companies until the end of 2027. In 2021, the PBOC launched its financing scheme.
China Grants Zheijang First Private Fuel Export License
China has granted Zhejiang Petroleum & Chemical Co (ZPC) a license to export refined oil products, making it the first private oil refiner to win such permission, two sources with knowledge of the matter said on Thursday.The license would allow ZPC to directly sell oil products to the international market, competing against state-owned refiners and helping to ease oversupply pressure in China's domestic market.However…
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), accounted for nearly half (45%) of China’s natural gas supply in 2018, an increase from 15% in 2010, according to the U.S.
Sinochem No Longer Pursuing Stake in Noble Group
China's state-owned Sinochem is no longer pursuing an investment in Noble Group Ltd due to concerns over the finances and business outlook of the loss-making commodity trader, three sources familiar with the matter told Reuters. When it held talks with Noble earlier this year to buy a stake, Sinochem's thinking, sources have told Reuters, was that a deal could help the oil, gas and petrochemicals producer to become a globally active energy trader.
China's Coal Producers Seek to Increase Output
China's coal producers have sought government approval for a plan to increase output, sources said on Thursday, partially reversing efforts to cut capacity that has sent prices soaring and depleted domestic stockpiles this year. The State Council must now decide whether to give the greenlight to the draft proposal, which was discussed at a meeting in Beijing of major producers, provincial officials and the state planner…
Issues on China-Russia Gas Deal Addressed
A Gazprom delegation headed by Alexey Miller, Chairman of the Company's Management Committee, paid a working visit to China today. During the visit a meeting was held between Alexey Miller and Zhang Gaoli, First Vice Premier of China's State Council. The parties addressed strategic bilateral cooperation. It was noted that the collaboration between Gazprom and Chinese energy companies and financial institutions was consistently developing.
Gazprom, CNPC Ink Power of Siberia Gas Pipeline Deal
Alexey Miller, Chairman of the Gazprom Management Committee and Wang Yilin, Chairman of the Board of Directors of CNPC signed today in Beijing an Agreement to design and construct the cross-border section of the Power of Siberia gas pipeline, including its submerged crossing under the Amur River. Besides, a Memorandum of Understanding in the oil sector was entered into by Gazprom Neft and CNPC.
Russian Gas Supply to China
At a meeting hosted by Beijing today the issues of bilateral cooperation, particularly the preparations for the contract on Russian natural gas supply to China via the western route were addressed. At today's working meetings Alexey Miller, Chairman of the Gazprom Management Committee, Zhang Gaoli, First Vice Premier of China’s State Council and Wang Yilin, Chairman of the Board of Directors of China National Petroleum Corporation (CNPC) participated.
Tesoro CEO: State Review for Washington Railport 'Incredibly Slow'
Goff said "something could happen" with the project in early 2016 if it is ultimately approved by the government. A state council expects to release an environmental impact statement by mid-summer - later than the May time frame Tesoro had expected - and a trial-like adjudication process has begun. The committee will submit its recommendation of whether to approve or reject the project to Washington Gov. Jay Inslee once that process concludes.
China Could Struggle to Meet 2020 Nuclear Targets
China could struggle to meet its 2020 nuclear energy targets with the industry still waiting on a cautious government to speed up the approval process, a senior industry executive said on Saturday. But as it waits for domestic projects to go ahead, the state-owned China National Nuclear Corporation (CNNC) is now ready to start selling reactors overseas, said the firm's chairman Sun Qin, speaking to Reuters on the sidelines of the annual session of parliament.
Gazprom in Talks with China on Gas Supplies
A meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Zhang Gaoli, First Vice Premier of the State Council of the People's Republic of China took place in Beijing today. The parties addressed the state of the Intergovernmental Agreement on arranging supplies of Russian pipeline gas to China via the western route. Alexey Miller also met with Wang Dongjin, Vice President of CNPC.
Gazprom & CNPC Agree on Gas Supplies
A Technical Agreement was signed today by Alexey Miller, Chairman of the Gazprom Management Committee and Wang Dongjin, Vice President of CNPC in the House of the Russian Government in Moscow. It is a supplement to the Purchase and Sale Agreement on natural gas supplies via the eastern route. The document was inked in the presence of Dmitry Medvedev, Russia's Prime Minister and Li Keqiang, Premier of China's State Council.
Power of Siberia construction launched
Yakutsk hosted today celebrations dedicated to welding the first joint of the Power of Siberia gas transmission system (GTS) meant to be a crucial element of the gas supply system being built in eastern Russia. The GTS will convey gas from the Yakutia and Irkutsk gas production centers to the Far East and China. The attendance was comprised of Russian President Vladimir Putin, Zhang Gaoli…
China's National Carbon Market to Start in 2016
China plans to roll out its national market for carbon permit trading in 2016, an official said Sunday, adding that the government is close to finalising rules for what will be the world's biggest emissions trading scheme. The world's biggest-emitting nation, accounting for nearly 30 percent of global greenhouse gas emissions, plans to use the market to slow its rapid growth in climate-changing emissions.
CNOOC to Export 100,000 T Oil Products in H2
CNOOC to export diesel, gasoline, kerosene or naphtha in H2; volumes likely to be in 10,000 T parcel sizes. China National Offshore Oil Corp (CNOOC) has received a quota from the government to export about 100,000 tonnes of oil products in the second half of the year, its first such permit, sources close to the matter said on Wednesday. Overseas sales by CNOOC are expected to drag…
Rosneft & Cupet to Cooperate at Brownfields, Cuba
On July 11, Head of Rosneft Igor Sechin and General Director of Union CubaPetroleo (CUPET) Juan Torres Naranjo signed in Havana the Agreement on Cooperation in the Area of Enhanced Oil Recovery at Brownfields. The Agreement was signed in the presence of the Russian President Vladimir Putin and the President of the State Council of Cuba Raul Castro. The document provides for the…
Nanjing Tanker To Be Delisted, First By Central Gov't Backed Firm
Loss-making shipping company Nanjing Tanker Corp will be delisted from the Shanghai Stock Exchange after a five-day grace period, marking the first time for a company backed by the central government to be dropped from a domestic exchange. The delisting comes after the government allowed China's first-ever public bond default in March and underscores the difficulties facing domestic companies saddled with record debt in a slowing economy.
