A deal between Chinese and South African companies that includes cooperation on coal-to-oil technology may help reduce China's dependency on imports. The agreement was signed during a visit by Premier Wen Jiabao, who was in South Africa as part a seven-nation tour of the continent. The technology was developed by the world's largest producer of […]
Category: Energy & Environment
Oil giant Sinopec signed a deal worth between US$20 million and US$59 million with Iran for the exploration and potential development of its onshore Garmsar oil block, Chinese state media reported, citing Iranian state radio. Garmsar is one of 16 oil blocks Iran put out to tender in 2003. The exploration deal covers a four-year […]
Some US$162 billion, or 1.6% of the country's GDP over the next five years, will go to clean up the environment and prevent further damage, the South China Morning Post reported, citing Mao Rubai, director of the Environment and Resources Protection Committee of the National People's Congress. Speaking at a forum on Sunday, Mao said […]
China National Offshore Oil Corp (CNOOC) and its Canadian partner Husky Energy have found China’s first deep-water gas field in the South China Sea, the Financial Times reported. Located 250 kilometers south of Hong Kong at a depth of 1,500 meters, the gas block – known as Liwan 3-1-1 could contain 113.3-169.9 billion cubic meters […]
Categories
Sinopec plans Angola deal
China Petrochemical, also known as Sinopec, will pay US$692.2 million for stakes in three deep-water oil blocks off Angola, the Wall Street Journal reported, citing an official at Angola's state oil company Sonangol EP. No contracts have been signed but the terms of the deal have been finalized, the official said. The contract is expected […]