China Petroleum and Chemical Corp's Shengli Oilfield plans to realize up to 7 billion yuan ($1.07 billion) in annual revenue in its overseas petroleum-engineering sector during the 12th Five-Year Plan period (2011-2015), making it one of Shengli's major growth engines, a top official from the oil field said on Thursday.
China's energy development strategy for the 12th Five-Year Plan (2011-2015) will focus on a structural adjustment of its energy resources, China Securities News reported Monday, citing a top official at the National Energy Administration (NEA).
China Petrochemical Corporation (Sinopec), the nation's biggest fuel supplier, plans to shut its 160,000- barrel-a-day refinery in Luoyang city in Central China in September for maintenance, said the head of the plant, Bloomberg reported Saturday.
China will not change its plan for developing nuclear power projects but will learn a lesson after a massive earthquake in Japan resulted in a radioactive leakage, vice-minister of Environmental Protection Zhang Lijun said Saturday.
A senior energy official has warned the government to be "fully aware" of the risk of imported inflation as spreading uncertainty in the oil-rich Middle East and North Africa keeps driving up the global oil price.
A Chinese State-owned nuclear power producer could be forced to make a bid for Australia's Extract Resources worth $2.7 billion as part of a bid for Kalahari Minerals, as China looks to secure uranium from Africa.
China's strategic oil reserve capacity is enough for one month's use, and the storage proportion of crude oil to product oil is 3:1, according to Wang Qingyun, director of the State Bureau of Material Reserve, the National Business Daily (NBD) reported Wednesday.
China has been extremely cautious about building hydropower projects on the Nu River, or the Salween, in the southwestern Yunnan province, Yunnan's Party chief Bai Enpei said Wednesday.
China should raise the threshold for the government's windfall tax on sales of crude oil to at least $60 a barrel from the current $40, said an executive with the nation's largest oil company.
China will surpass the United States as the world's largest consumer of uranium during the 2020s as the nation's imports rise sharply to feed a growing nuclear industry, a high-level energy official told China Daily.
PetroChina Jilin Oilfield aims to produce about 10 million tons of oil and gas in 2015, Hou Qijun, general manager of the oilfield, said Monday.
Construction of China's national strategic oil reserve site in Tianjin city, which will have a storage capacity of 3 million cubic meters, will begin as early as May, a city official said on Friday.
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