China Economic ReviewChina National Offshore Oil Corp president Zhou Shouwei said that the company had met last year's production target of between 125m and 130m barrels and would increase production of oil and gas in 2003, South China Morning Post reported. This year, it plans to spend between US$1bn and US$1.5bn to fund acquisitions and to explore […]
The State Economic and Trade Commission closed 4,855 filling stations in 2002, Xinhua reported. Reasons for closure were breaches of local laws including unauthorised use of land, low fuel standards and improper weights and measures. More than 20,000 filling stations were shut down in 2001. The campaign against private operators is helping to reinforce the […]
Power generation in China has gone from surplus to a surfeit that is limiting economic growth and dimming the lights across the east 2003 was a year of power shortages for China. The blackouts that affected the east of the country (particularly Shanghai) in the summer rolled on into the winter, causing disruption, slowdown and […]
China is to spend about Yn300bn by 2010 to double its hydroelectric capacity, said Chen Dongping, a deputy director general of the State Power Corp. Generating capacity is set to increase to 150,000MW in the next eight years, the equivalent of eight Three Gorges dams. Chen said China needed these plants to reduce its dependence […]
China's second largest oil producer, China Petroleum and Chemical (Sinopec), said it aims to double natural gas production to 10bn cubic metres in 2005 from 2002 levels. An investment plan of up to Yn14bn to develop proven reserves over this period will also increase crude oil production by 6.5 per cent, to 40m-41m tonnes a […]