China Keen on Canadian Crude
Financial Post reported that China is competing with the US to secure supply of crude oil from Canada.
Articles Tagged "china"
China Bio Energy Holdings declared acquistion of Gas Station
China Bio Energy Holdings Group, a leading manufacturer and distributor of bio-diesel and distributor of petroleum-related products including gasoline, diesel, and heavy oil in China, declared that it has reached an agreement to acquire, through a thirty-year lease, all of the assets of a gas station located in the city of Xi’an, Shaanxi Province, PRC. [...]
Iran’s China Oil Outfit will battle to enhance exports
National Iranian Oil Company has set up its first Beijing office to push for crude sales in China, but the world’s No.4 crude exporter will have a tough job boosting volumes sharply in the absence of a refinery. For full story, click here
Petrobras has signed agreement with China Development Bank
State-controlled Petrobras declared that it has signed a deal with China Development Bank through which it will receive a 10-year loan worth $10bn. For full story, click here
Sinopec has launched Cangzhou Refinery Upgrade Project
The upgrade project of China National Petroleum and Chemical Corporation’s Cangzhou Refinery formally commenced on March 26. The project includes technology upgrades of its 1.2 million-ton-per-year coking unit and the construction of a new 900,000-ton-per-year catalytic gasoline absorption desulfurization facility, an 80,000-ton-per-year benzene extraction project and auxiliary facilities. For full story, click here
China will shut down its outdated Oil Refineries
China will eliminate outdated refining capacity over the next few years in order to promote an industry upgrade, the National Development and Reform Commission declared over the weekend. For full story, click here
Sinopec raised Canadian Oil sand stake to 50%
Sinopec, China’s leading oil producer, has just purchased a further 10% equity stake in the Canadian oil sand project ‘Northern Light’ from Total, making its stake in the project an equal 50/50 split with Total. For full story, click here
CNOOC’s 1st Refinery Starts Commissioning in Huizhou
China National Offshore Oil Corp. (CNOOC), China’s biggest offshore oil and gas producer, will put into operation the first phase of a refining project in Guangdong, south China, on March 20. For full story, click here
CNOOC ‘s Refining Project to process 12 mln tons of heavy oil a year
China National Offshore Oil Corp will put into operation the first phase of a refining project in Guangdong, south China, on March 20. For full story, click here
China and Venezuela increase ‘strategic fund’ for development
Venezuelan President Hugo Chavez and Chinese Vice-President Xi Jinping have entered into an agreement to increase an existing bilateral strategic fund for oil development to $12 billion. Chavez said: Some 30 international oil companies are quantifying the reserves of heavy oil in Venezuela’s Orinoco belt, and that some 174 million bbl of crude already had been [...]
