China Economic ReviewOne of China's largest conglomerates, China International Trust & Investment Corp (Citic), is in advanced talks to buy Central Asia-focused oil producer Nations Energy for about US$2 billion, the South China Morning Post reported. If successful, Citic would probably grant a first right of refusal to its commodities arm, Citic Resources Holdings, to buy the […]
China and Arab League nations emphasized the role that cooperation deals on oil, natural gas and renewable energy will play in the two sides' bid to double trade volumes by 2010. An agreement signed at the end of the China-Arab Cooperation Forum in Beijing Thursday outlined plans to start oil talks between Beijing and the […]
With Beijing keen to dispose of some of its huge foreign exchange reserves, domestic firms are busy drawing up wish lists in anticipation of an international spending spree
New oil discoveries will ensure China's supply despite exploration difficulties, said the Chinese Academy of Engineering. The country's annual oil output could soon reach 195 million tons, up from the 182 million tons produced in 2005 when 42.9% of its oil and oil products were imported. By 2020, production could surpass 200 million tons. The […]
Oil prices on the international market may be too high for China to use to fill its reserves, state media reported. Zhang Guobao, vice chairman of the National Development and Reform Commission, said China would likely fill reserves from domestic supply, adding that China's production will likely remain at 3.6 to 4 million barrels a […]