China, the world’s biggest producer of greenhouse gases, has said it will cut its carbon dioxide emissions to nearly zero by 2060, in a surprise move announced at the virtual UN General Assembly in New York, reported the Financial Times. President Xi Jinping told the UN meeting that China planned to be “carbon neutral” before […]
Category: Energy & Environment
Growth in China’s natural gas imports may slow this year, according to an official estimate released on Friday, reported Caixin. Natural gas imports may reach around 140 billion cubic meters in 2020, the country’s energy watchdog and two state-backed research institutes said in a jointly released report. That would represent annual growth of roughly 3.6%, down […]
Sinopec, China’s biggest oil refiner, posted its first ever loss over a half-year period, on the back of collapsing oil prices and the coronavirus’s impact on demand for fuel in the country, reported the Financial Times. The state-backed company reported a loss of RMB 21.7 billion ($3.2 billion) in the six months to the end […]
A subsidiary of one of China’s five-biggest power generators saw its profit spike almost 50% in the first half of 2020, thanks to slumping fuel prices and despite widespread business shutdowns during the Covid-19 pandemic, reported Caixin. Shanghai-listed Huaneng Power International Inc., which is owned by energy giant China Huaneng Group, saw its first-half profit jump […]
Power conglomerate State Grid Corp. of China is giving away its real estate subsidiary as it refocuses on its core electricity transmission business, reported Caixin. State Grid has transferred its 100% share in property firm Luneng Group free of charge to a state-owned enterprise specializing in logistics and packaging that is jointly owned by State Grid and […]