China's largest offshore oil and gas producer, China National Offshore Oil Company Limited (CNOOC Ltd), announced Thursday that its 2011 oil and gas output target is set at 355 to 365 million barrels of oil equivalent (BOE).
China imported 164.83 million tons of coal in 2010, up 30.99 percent on the previous year and coal exports declined 15.03 percent for the same period to 19.03 million tons, the Beijing News reported Thursday, citing data from the nation’s top economic planner.
China's strategic petroleum reserve capacity is expected to reach 274 million barrels by 2012.
Tianjin has been selected for development into a world-class petrochemical industry base and national crude-oil reserve hub within 10 years, with an annual 40 million ton refining capacity and 2.5 million tons of ethylene production, and a 30 million cubic meter (cu m) crude oil reserve.
Datang International Power Generation Co Ltd (Datang Power) reported a 110 million yuan ($16.7 million) deficit last year, and sources said the deficit is a result of the high cost of thermal power generation, the 21st Century Business Herald reported Wednesday.
China will step up efforts on forming large-scale coal production bases, aiming at increasing the production capacity to 90 percent by the end of the 12th Five-Year Plan (2011-2015), according to the National Energy Administration (NEA).
China's crude oil consumption is projected to grow 6.6 percent in 2011, down from a 13.1 percent pace in 2010, data from the China Petroleum and Chemcial Industry Federation showed on Wednesday.
The nation will approve another 10 nuclear power projects during the 12th Five-Year Plan (2011-2015), according to Zhang Guobao, former director of the National Energy Administration.
China will ratchet up its efforts to construct the second phase of the national crude oil reserve base project in 2011, as part of the country's endeavor to secure strategically important natural resources and stabilize the petroleum market.
China's Finance Minister Xie Xuren said the country will extend the resource tax - currently only in force in the Xinjiang Uygur autonomous region - to other areas in the coming five years while stepping up a revision of the country's fiscal and tax system.
China Datang Corp is poised to win China's first solar photo-thermal power plant project because the company offered a lower-than-expected price in its bid for the project, China Business News reported on Tuesday, citing an unnamed source.
China National Electric Engineering Co Ltd (CNEEC) says it secured most of its 2010 revenue from overseas power station projects, representing the Chinese contractor's capacity in the international Engineering, Procurement and Construction (EPC) market.
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