Beijing has given the green light to an asset-restructuring deal involving the country’s largest oil refiner and a leading distributor of jet fuel, reports the South China Morning Post. This is part of continuing efforts to streamline operations of major state-owned juggernauts. China Petroleum and Chemical Corp, better known as Sinopec, and China National Aviation Fuel Group (CNAF) […]
Category: Energy & Environment
China agreed another decades-long liquefied natural gas deal with Qatar in a further move to safeguard its energy security, reports Bloomberg. China National Petroleum signed a 27-year LNG purchase agreement for 4 million tons annually with QatarEnergy on Tuesday. Supply will begin in 2026 and CNPC will take a 5% equity stake in a production […]
A feud between two of China’s biggest auto manufacturers, Great Wall Motor and BYD, spilled out into the open on Thursday, as the rivals traded barbs over environmental standards amid heightening competition in the world’s largest auto market, reports Nikkei Asia. Great Wall Motor issued a statement on Thursday claiming BYD’s plug-in hybrid models Qin […]
Electric vehicle startup Nio plans to set up an additional 1,000 battery swap stations in China this year as part of its dual strategy to push both battery charging and swap facilities for customer convenience, reports Nikkei Asia. Nio has been building a network of battery swap stations since 2018, with more than 1,300 in […]
China Petroleum & Chemical (Sinopec), the world’s largest oil refiner by capacity, will accelerate its energy transition as the rising popularity of electric vehicles reduces demand for fuel, its chairman said on Monday, reports the South China Morning Post. The Beijing-based company will adjust the product output of its refineries, build more petrol stations that […]