The China Electricity Council (CEC) issued a report Thursday forecasting the nation may face an electricity shortage of 30 million kW in the summer, according to a Sina.com report.
Sinopec Corp, Asia's top oil refiner, said on Thursday that its net profits in the first quarter this year rose 25.22 percent year on year to 20.64 billion yuan ($3.17 billion).
PetroChina Co, Asia's biggest company by market value, will benefit from higher oil and gas production this year as government controls on diesel and gasoline prices lead to refining losses, analysts said.
Power shortages across the country in recent weeks have forced some provinces to ration electricity for industrial use, causing severe financial losses to private enterprises in Central and East China.
China's offshore oil producer CNOOC Ltd said its revenue rose 59 percent in the first quarter from a year earlier.
China can become a leader in the production of second-generation (2G) biofuels, made from agricultural waste instead of foodstuffs, such as sugar, starch and vegetable oils said a senior executive from one of the industries' leading companies.
China's oil giant PetroChina Co. announced Wednesday that its net profits in the first quarter this year rose 13.9 percent year-on-year to 37 billion yuan ($5.68 billion).
China National Offshore Oil Company Limited announced Wednesday that its sales revenue jumped by almost 60 percent in the first three months driven by soaring output and prices.
The former general manager of Sinopec Guangdong was demoted in reaction to a scandal concerning extravagant liquor bills, the company said on Monday.
The drafting of a nuclear energy law is high on the State Council's legislation agenda for this year as people raise questions about the safety of reactors following the nuclear crisis in Japan.
East China's industry-heavy Zhejiang province is feeling drained as it grapples with strong demand and a resulting shortage of power that insiders say may be the worst since 2004.
Supplies of coal, electricity, crude oil and natural gas will not be abundant this year in China, and the country will address the need to boost domestic energy supplies through economic adjustments, the China Securities Journal reported Tuesday.
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