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Policy & Regulation

CNOOC-Nexen deal faces reciprocity concerns

CNOOC is seeking Canadian government approval for its purchase of Nexen, but the deal has raised reciprocity concerns in the Canada-China bilateral investment relationship.

31 August 2012
Policy & Regulation

China’s shale gas subsidies set to exceed CBM incentives

China’s finance ministry is drafting state subsidies for shale gas that will likely be much higher than those for CBM, ranging from RMB 0.26 ($0.04) to RMB 0.3 for every cubic metre (cm) produced, a source close to the Ministry of Land and Resources (MLR) told Interfax on Wednesday.

30 August 2012
Companies & Finance

Hubei Energy gas revenue drops by 20%

Hubei Energy recorded RMB 125.92 million ($19.85 million) in operating revenue from its gas division for the first half (H1) of 2012, a 20.74% decline from the same period last year, according to a company filing on the Shenzhen Stock Exchange on Thursday.

30 August 2012
Gas for Transport

China lagging in construction of vehicular LNG stations

China’s ambition to run more vehicles on clean-burning LNG is being hampered by a lack of suitable fuelling infrastructure, an industry consultancy told Interfax on Wednesday.

29 August 2012
Exploration & Production

Chevron joins hunt for shale gas in China

Chevron began exploring for shale gas in China last year, joining a handful of other foreign supermajors that are aiming to unlock the country's immense reserves of the unconventional resource.

29 August 2012
Exploration & Production

Private equity fund signs China shale gas agreement

IDG Capital Partners, a China-focused private equity fund, has signed a framework agreement with Jinshiqi International Holdings and Guizhou province’s Bureau of Geology and Mineral Exploration and Development to invest in the exploration and development of shale gas in Guizhou, an IDG representative confirmed to Interfax on Wednesday.

29 August 2012
Exploration & Production

CNOOC announces second offshore blocks tender

China National Offshore Oil Corp. (CNOOC) has made 26 offshore blocks available for joint development with foreign companies, two months after it sparked controversy by offering nine blocks within Vietnam’s exclusive economic zone.

28 August 2012
Companies & Finance

Sinopec’s gas output up by 14% amid profit slump

Sinopec’s gas output over the first half of 2012 (H1) rose by 14.1% year-on-year to 8.2 billion cubic metres, a silver lining for the company amid poor interim results that saw net profits tumble by 40.5% to RMB 24.50 billion ($3.85 billion).

28 August 2012
Exploration & Production

Huadian taps Hunan geological bureau for shale gas JV

The engineering division of state-owned power giant China Huadian and a provincial coal geological bureau have teamed up to develop shale gas, adding to a growing list of strategic alliances piling into China’s shale gas sector.

28 August 2012
LNG

East China’s Hefei to build second LNG depot

Hefei Gas Group, a gas distributor in the eastern Chinese city of Hefei, will build a second LNG storage depot early next year, company President Wu Zhengya said in an interview with the state-run Jianghuai Daily.

28 August 2012
Policy & Regulation

Taiyuan in Shanxi hikes residential gas prices

Taiyuan, the capital of Shanxi province in central China, raised residential gas prices on Thursday for the first time in five years.

24 August 2012
Companies & Finance

Kunlun Energy doubles H1 profit and revenue

Kunlun Energy, a large Chinese gas distributor, more than doubled its net profit and revenue in the first half of 2012 from a year earlier, thanks to rapid growth in its gas business and buoyant global oil prices.

24 August 2012
Companies & Finance

Oilfield market growth lifts COSL’s profit

China Oilfield Services, the listed drilling unit of China National Offshore Oil Corp., posted double-digit growth in revenue and profit for the first half of the year amid strong Chinese demand for oil services and equipment.

23 August 2012
Companies & Finance

PetroChina’s gas business stumbles in Q2

PetroChina’s gas and pipeline business lost ground in the second quarter of 2012 (Q2) because of widening losses from sales of imported gas.

23 August 2012
Supply & Demand

China’s LNG imports rise 13% to 1.33 million tons in July

China imported 1.33 million tons (mt) of LNG in July, up by 12.62% from last year and an increase of 9.91% from June, figures released on Tuesday by the country’s General Administration of Customs (GAC) showed.

22 August 2012
Exploration & Production

Sinopec boosts gas output at Fushi 1 shale well

Shale gas output at Sinopec’s Fushi 1 shale well in Chongqing municipality reached a record 126 thousand cubic metres per day on 7 August, the country’s second-largest energy producer announced on Tuesday.

22 August 2012
Companies & Finance

CNOOC Ltd.’s H1 net profit tumbles by 19%

Shares of CNOOC Ltd. on the Hong Kong Stock Exchange closed down by nearly 3% on Tuesday, after the state-owned energy giant reported a 19% annual decline in first-half (H1) net profit.

21 August 2012
Pipelines, Storage & Power

Hebei gas grid to span province by 2015

A gas pipeline network in the northern Chinese province of Hebei will cover every county and more than 100 cities in three years, local media reported on Monday.

21 August 2012
Exploration & Production

Analysts unmoved by China’s latest shale gas auction delay

China's decision to delay its second tender for shale gas blocks came as no surprise to analysts, who expect further holdups as Beijing attempts to draft a viable strategy for tapping its vaunted shale resources.

21 August 2012
Supply & Demand

China’s gas consumption rises by 10.5% in July

China’s apparent gas consumption in July increased by 10.5% from last year to 11.4 billion cubic metres, the National Development and Reform Commission said on Monday.

20 August 2012

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