China Economic ReviewState-owned China National Offshore Oil Corp has begun tapping a natural gas field that has been subject to a dispute with Japan, the Wall Street Journal reported. China's biggest offshore oil and gas producer started production at the Chunxiao field on January 28 – ahead of schedule – a source told the newspaper. A round […]
China has signed an agreement with Australia confirming that any uranium it imports will be used for nuclear power plants rather than nuclear weapons, the Wall Street Journal reported. The signing ceremony of the bilateral nuclear-safeguards treaty was attended by Australian Prime Minister John Howard and Chinese Premier Wen Jiabao, who is touring Australia. Beijing […]
Oil firms will have to pay a windfall tax of 20-40% for every barrel of crude oil they sell above the US$40 mark, the South China Morning Post reported. A 20% tax is to be imposed on prices ranging between US$40 and US$50, with the levy rising five percentage points for every US$5 price increase […]
Sinopec says it has found what is believed to be the country's largest natural gas field in Sichuan Province, the South China Morning Post reported. Recoverable gas reserves at the Puguang gas field were estimated at 251.08 billion cubic meters at the end of last year, based on an assessment carried out by the Ministry […]
Prime Minister Wen Jiabao and Australian Prime Minister John Howard have struck a uranium deal that will allow Australia to sell nuclear fuel to China, Reuters reported. Under the terms of the deal, Beijing will respect international safeguards for the sale of uranium from Australia. China has called for a pricing mechanism that would guarantee […]