China’s central planning agency has given the go-ahead for planning to begin for the construction of a mega refinery in East China’s Shandong province that will replace at least 10 barely profitable facilities in the oil refining hub, reported Caixin. The approval marks another step forward for a provincial government plan to consolidate the privately owned refineries […]
Category: Energy & Environment
China is moving ahead with its mega plan to consolidate state-owned pipeline and related assets by requiring the country’s three largest oil companies to hand off management of nearly half of their liquefied natural gas (LNG) terminals to a new state-owned giant, reported Caixin. The 10 terminals are among the first batch of assets set […]
BYD will supply batteries for a Ford Motor hybrid vehicle, as the Chinese automaker bets on batteries as a new revenue source, according to government documents. The move comes amid a contraction in China’s new energy vehicle market, reported Caixin. The batteries will be used in one of Ford’s plug-in hybrid models, for which Ford’s China venture with Changan Automobile is […]
China plans to make fossil fuel projects ineligible for financing via green bonds, as Beijing tightens up standards for such investment to follow international practices and push its domestic clean energy strategy forward, reported Caixin. Fossil fuel projects were missing from the latest draft list of projects eligible for green bond financing, which was jointly […]
Volkswagen AG has announced it is making two new-energy vehicle investments in China worth more than €2 billion ($2.2 billion) as it taps into the Asian country’s growing market, reported Caixin. The German automaker said in a statement Friday that it plans to acquire a 50% stake in its Chinese electric-vehicle partner, Anhui Jianghuai Automobile Group. Volkswagen […]