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Archive for January, 2008

Oil output, consumption both hit record high in 2007

China scored new highs both in oil output and consumption in 2007, boosted by the robust growth momentum of its economy. Sources with the China Petroleum and Chemical Industry Association, the industrial association of the ... Read More

Day of Reckoning for China’s Sovereign Fund ?

China’s sovereign wealth fund has overly concentrated its investments in financial assets, leaving it little room to take further advantage of the credit crunch and facing difficulty in paying off debt. Though it has ... Read More

Sinopec to expand refineries

China Petroleum & Chemical Corp (Sinopec), supplier of two-thirds of the nation’s auto fuels, plans to spend about 16 billion yuan expanding plants in central China, a company official said. Capacity at the Changling ... Read More

Fan Jixiang Visits the Democratic Republic of Congo and Signs Package Cooperation Agreement

 From January 26 to 28, on the invition of the government of the Democratic Republic of Congo, General Manager of Sinohydro Corporation Fan Jixiang participated in the delegation which was led by President of Import and Export ... Read More

Rapid Production Growth & New Projects to Be 2008 Highlights for

HONG KONG, Jan. 29 /Xinhua-PRNewswire-FirstCall/ — CNOOC Limited (the “Company” or “CNOOC Ltd.”; NYSE: CEO; HKEx: 883) today announced its business strategy and development plan for year 2008. The ... Read More

CNOOC Ltd. Ink A Deal with Talisman on Tangguh LNG Project

HONG KONG, Jan. 27 /Xinhua-PRNewswire-FirstCall/ — CNOOC Limited (NYSE: CEO; SEHK: 883, “the Company”) announced today, it has reached agreement with Talisman Energy Inc. to sell a 3.06% working interest ... Read More

GDP more than 24 trillion yuan

China’s gross domestic product (GDP) reached 24.6619 trillion yuan in 2007, up 11.4 percent over the year previous, said the National Bureau of Statistics last Thursday. It was the fifth consecutive year in which the ... Read More

Coalbed methane developer gets tech boost

The nation’s main coalbed methane developer signed a deal with two companies on Friday for a new technology to boost production. China United Coalbed Methane Corp Ltd (CUCBM) signed the agreement with Canadian firm ... Read More

China to deliver two 50-seat planes to Bolivia

China will deliver two MA60 regional planes to Bolivia in February, the first Chinese aircraft to enter South America, China National Aero-Technology Import & Export Corp (CATIC) said on Friday. The 50-seat turboprops are ... Read More

Former Sinopec manager expelled from Party for corruption

Chen Tonghai, former general manager of the China Petroleum and Chemical Group (Sinopec), has been expelled from the Communist Party of China (CPC) and the government and officially charged with corruption. The CPC Central ... Read More

ICBC eyes more foreign banks

Industrial and Commercial Bank of China (ICBC), the mainland’s largest bank, is prepared to acquire more foreign banks, possibly this year, a senior executive said. “It’s possible that ICBC will complete ... Read More

China to set up agricultural technology center for Sudan

China will assist Sudan in establishing an agricultural technology demonstration center, according to a cooperative protocol signed in Khartoum by the two countries Thursday. The center, covering about 60 hectares in Al-Qadarif ... Read More

Armed groups in eastern DRC sign ceasefire deal

The armed groups in eastern Nord-Kivu province of the Democratic Republic of Congo (DRC) signed a ceasefire deal Wednesday, officials said. Kambasu Ngeze, delegation chief for the Tutsi renegade ex-general Laurent ... Read More

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