Unipec, the trading arm of top Asian refiner Sinopec, has so far declined Saudi Aramco's offer of more Saudi crude oil to replace Libyan crude supplies, Reuters reported citing trading sources Monday.
The world's first 660-kilovolt direct current power transmission system began to supply energy from Northwest China's Ningxia Hui Autonomous Region to the eastern Shandong province Monday.
Chinese Premier Wen Jiabao said Sunday that the country aims to reduce energy consumption per unit of gross domestic product (GDP) by 16 to 17 percent by 2015 from 2011 levels.
China's energy consumption per 10,000 yuan ($1,520) of gross domestic product went down 4.01 percent year-on-year in 2010, said the National Bureau of Statistics Monday.
There are six significant factors to know about the rise in the price of oil when we look at the NYMEX West Texas Crude price chart:
China Petrochemical Corporation (Sinopec) announced Friday that it has signed a heads of agreement with Australia Pacific LNG Pty Ltd (Australia Pacific LNG) establishing non-binding key commercial terms for the supply of up to 4.3 million tons per annum of liquefied natural gas (LNG) for 20 years.
China Petroleum & Chemical Corp, Asia's largest refiner, is selling the world's biggest convertible bond issue of this year, raising money at a lower cost than by selling shares or plain debt.
Companies are looking for official approval for natural gas project
Oil prices will keep their growth momentum in the long run , said Fu Chengyu, chairman of China National Offshore Oil Corporation.
China must devise an emergency natural-gas storage plan during the 12th Five-Year Plan period (2011-2015), said a senior researcher at the country's energy think tank.
BHP Billiton is buying shale gas reserves from Chesapeake Energy Corp for $4.75 billion, pitting itself for the first time against oil giants and China in the battle for the fast-growing energy source in North America.
Oil major aims to double the length laid during the past five years