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Companies & Finance

China Oilfield Services

Despite China Oilfield Services (COSL) having a somewhat difficult year in 2011, CITIC securities believes the company will rebound next year.

22 March 2012
Supply & Demand

Jilin to consume 8.7 bcm/y of gas by 2015

Jilin Province’s gas consumption is forecast to reach 8.7 billion cubic metres per year by 2015, accounting for 9.42% of the province’s energy mix, state-run China News Service reported on Tuesday, citing Jilin’s energy development plan between 2011 and 2015.

22 March 2012
Companies & Finance

China Oil and Gas profit surges 56% in 2011

China Oil and Gas Group’s (COG) gross profit surged by 56% from a year earlier to HK$900.66 million ($116.01 million) in 2011, according to annual results filed with the Hong Kong Stock Exchange (HKSE) on Wednesday.

22 March 2012
Exploration & Production

Huadian unit begins fracturing shale well in Guizhou

Hydraulic fracturing (‘fracking’) of the Cenye 1 shale gas well in Guizhou Province began on Monday, the provincial arm of the Ministry of Land and Resources (Guizhou MLR) said on Tuesday.

22 March 2012
Exploration & Production

Shell signs landmark shale gas deal in China

Royal Dutch Shell has signed a production sharing contract with China National Petroleum Corp. for a shale gas block within the Sichuan Basin, the first deal of its kind in China.

21 March 2012
Exploration & Production

Sinopec targets 2 bcm/y of shale gas output by 2015

Sinopec expects to produce 2 billion cubic metres of shale gas per year by 2015, accounting for nearly one-third of China’s targeted output for the period.

21 March 2012
Companies & Finance

COSL to expand offshore exploration services

China Oilfield Services (COSL), a unit of China National Offshore Oil Corp. (CNOOC), plans to expand offshore oil and gas production services this year despite weakened net profit in 2011, according to a COSL filing with the Hong Kong Stock Exchange on Tuesday.

21 March 2012
Companies & Finance

Green Dragon or paper tiger?

For a company that has produced less than 0.15 billion cubic metres of gas since acquiring its first Chinese production sharing contract in 1999, analysts and investors have been particularly kind to Green Dragon Gas.

20 March 2012
Pipelines, Storage & Power

Hong Kong utilities grapple with cost of gas-fired power

A global financial hub with some of the world’s highest living standards, Hong Kong’s recent ranking in a February study from non-governmental organisation Clean Air Network as the eighth worst place for air pollution mortality out of 193 countries offered another embarrassing piece of evidence in the territory’s widely acknowledged struggle

20 March 2012
Supply & Demand

Beijing consumes 5.3 bcm during winter heating season

China’s capital Beijing has consumed 5.31 billion cubic metres of gas in the past four months, state-run media reported on Tuesday.

20 March 2012
Exploration & Production

China to accelerate deepwater development

As China locks horns with some of its neighbours in pursuit of energy assets in disputed waters, Beijing has unveiled plans that set out a strategy for increasing the exploitation of deepwater hydrocarbon resources and developing domestic energy equipment manufacturing capabilities.

20 March 2012
Pipelines, Storage & Power

Shanxi International Electricity to build CBM-fired power plant

Shanxi International Electricity Group (SIEG) will begin construction in May on a coal-bed methane-fired (CBM) Combined Cooling, Heat and Power (CCHP) plant in Taiyuan, capital of Shanxi Province, SIEG announced.

19 March 2012
Companies & Finance

Towngas China generates $556 mln in 2011 revenue

Towngas China, a Hong Kong Stock Exchange-listed (HKSE) natural gas distributor in China, increased turnover by 44.9% from a year earlier to HK$4.32 billion ($556.55 million) in 2011, Towngas China said in annual results filed with the HKSE.

19 March 2012
Exploration & Production

Eni in China

Eni could finalise a plan for developing shale gas assets in China by the end of the year.

16 March 2012
Exploration & Production

China releases five-year shale gas development plan

China's National Energy Administration (NEA) has released a long-awaited plan charting development of the country's shale gas industry for the next four years, with official production targets largely unchanged from those made public by government officials and industry experts.

16 March 2012
LNG

Sinopec plans LNG transport for Beijing

Sinopec has signed a strategic cooperation agreement with the Beijing municipal government to jointly develop the capital's LNG-powered public transportation sector.

16 March 2012
Companies & Finance

Sinopec to acquire overseas energy assets from parent

Sinopec will acquire overseas oil and gas assets from its parent and controlling shareholder China Petrochemical Corp. (Sinopec Group) to “avoid competition” between the two entities, Sinopec said in a filing with the Hong Kong Stock Exchange (HKSE).

15 March 2012
Exploration & Production

Sichuan targets gas output of 26 bcm in 2012

Sichuan Province, a gas-rich province in southwest China, expects to produce 26 billion cubic metres of gas this year.

15 March 2012
Exploration & Production

Unmasking China’s Arctic gas ambitions

Debate is once again stirring on the extent of China’s ambitions in the Arctic after the country’s State Oceanic Administration (SOA) said last week it was preparing to launch its fifth expedition to the polar region this summer.

15 March 2012
Companies & Finance

Kunlun anticipates net profit growth in 2011 financial report

Kunlun Energy, a Hong Kong Stock Exchange (HKSE)-listed unit of China National Petroleum Corp. (CNPC), will show significant growth in 2011 net revenue and profit in its annual financial report to be released 29 March 2012.

14 March 2012

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