China National Offshore Oil Company Limited (CNOOC Ltd) said on Wednesday that it has signed an agreement with UK-based Tullow Oil plc (Tullow) for a one-third interest in three exploration areas in Uganda for $1.467 billion.
Installed wind power capacity in Inner Mongolia, China's leading builder of wind farms by region, will top 13 gigawatts (gW) by the end of this year, Reuters reported Wednesday, citing an executive with local power grid firm.
China was the leader in clean energy investment last year. The country spent $54.4 billion on clean energy development in 2010, according to statistics from Pew Charitable Trusts, an independent nonprofit group from the US.
China's resource conservation and environmental protection goals for 2011 were released by the National Development and Reform Commission on Tuesday, and related regulations are likely to be announced soon, the Shanghai Securities Times reported.
China may double its target for photovoltaic power capacity over the next five years in the wake of Japan's nuclear crisis, Reuters reported, citing a China Securities Journal report.
China Guangdong Nuclear Power Group will buy the pharmaceutical supplier Vital Group Holdings Ltd, giving its uranium unit a listing in the city.
China came in first and Germany second in clean-energy investment last year, while the United States fell one spot to third place, a report said on Tuesday.
China should trim its planned nuclear capacity and slow down the development of nuclear power plants in inland regions, the China Electricity Council (CEC) has suggested.
China may face a shortfall of 56 million tons of coking coal this year, the China Securities Journal reported on Tuesday, pushing Chinese steel mills to look further afield to make up the supply gap.
China Shenhua Energy Co Ltd, China's largest coal producer, expects to sell 360 to 370 million tons of coal in 2011, up from its previous forecast of 350 million tons, its chairman said.
China Petroleum & Chemical Corp (Sinopec), Asia's biggest oil refiner by capacity, aims to produce 45.59 million metric tons of crude oil in 2011.
The Inner Mongolia autonomous region will form more than 20 large-scale coal companies by the end of 2013, each with a production capacity of more than 10 million tons through restructuring, according to the local government's development plan for the industry.