China National Petroleum Corp (CNPC) received just a sixth of the shares it was seeking in Rosneft's US$10.4 billion IPO last week. It placed an order for US$3 billion worth of shares in the Russian oil giant's IPO in London and Moscow, but was allocated a stake worth only US$500 million. CNPC was one of […]
Category: Energy & Environment
PetroChina will open nine exploration blocks covering 110,000 square kilometers within Xinjiang Region's Tarim Basin to foreign investors, unlocking potential resources in the under-explored area and bolstering supply for the 3,800km Xinjiang-Shanghai gas pipeline, China Oil News reported. The cooperation will be in a profit-sharing structure commonly used worldwide, in which foreign firms will foot […]
China's crude oil imports climbed 15.6% year-on-year in the first half of 2006, customs figures show, underlining the difficulty of slowing the country's thirst for energy. The rebound comes after oil imports grew a mere 3.9% in the first half of 2005. China is the second-largest oil consumer in the world and last year imported […]
Yingli Solar, a mainland solar power equipment maker, plans to raise about US$400 million from an initial public offering on the Nasdaq stock market by the end of this year or early next, the South China Morning Post reported, citing market sources. Fund managers said Yingli's offering, which would be twice the size of Focus […]
China National Petroleum Corp (CNPC), the unlisted parent of the mainland's largest integrated oil company, PetroChina, agreed to buy as much as US$3 billion worth of shares in the planned initial public offering of Russian oil firm Rosneft, but only if Rosneft agrees to a "real strategic relationship", the South China Morning Post reported, citing […]