The UK- based oil group BP said it was seeking government approval to spend US$400m on expanding its liquefied petroleum gas facility in Zhuhai, Guangdong province. It also said it wants to build a new line making terephthalic acid (TPA), increasing its capac-ity from 350,000 tonnes to 600,000 tonnes a year. TPA is a raw […]
Category: Energy & Environment
Russia's second largest oil company Yukos and China National Petroleum Corp (PetroChina) have signed a US$150hn deal that paves the way for a pipeline to ship up to 700in tonnes of oil in 2005-2030, Reuters reported. The deal was signed during President flu Jintan's visit to Russia at the end of May and announced the […]
China's two oil majors, Sinopec and Petro China, were reported by South China Morning Post to he interested in building terminals for importing liquefied natural gas (LNG), threatening to rival CNOOC (China National Offshore Oil Corporation) which has dominated the market so far. Chen Tong-hai, president of Sinopec's parent, China Petrochemical, led a delegation in […]
Oil well investors and derrick workers in the northern part of Shaanxi province have clashed with police at the confiscation with-out compensation by local authorities of as many as 6.000 small. privately-owned oil wells in the area. The Financial Times said. A lobbyist representing the private oil compa-nies told the newspaper that total investment in […]
China National Petroleum Corporation is close to winning a US$500m investment deal in Sudan, reported China Daily. CNPC and the government of Sudan will each spend US$150m on expanding throughput of their Khartoum refinery joint venture, which was established in 1997. This investment will more than double refining capacity, while the additional funds will be […]